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The Case of the Overwhelming Mortgage

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Comments

  • AgathaSquirrel
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    Thank you all. It is great progress, though daunting, we have to do it almost twice more in ideally 6.5 years.

    Feeling better. Still not exercising but hopefully soon.
    2017 - mortgage of £140,000 and interest rate of £10 a day
    Feb 2021 mortgage of £103000
    May 2021 mortgage of £100000
    July 2021 mortgage of £97000
    November 2021 mortgage of £93000
    July 2022 mortgage of £84000
    December 2022 mortgage of £79000
    December 2023 mortgage of £73000
    March 2024 mortgage of £70000
    May 2024 mortgagee of £68000
  • AgathaSquirrel
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    Made the payment, first goal achieved now under £90000. New mini-goal to get as low as we can before remortgage, aiming for £85000. Next goal is to get below our original balance on our old house £77000.
    2017 - mortgage of £140,000 and interest rate of £10 a day
    Feb 2021 mortgage of £103000
    May 2021 mortgage of £100000
    July 2021 mortgage of £97000
    November 2021 mortgage of £93000
    July 2022 mortgage of £84000
    December 2022 mortgage of £79000
    December 2023 mortgage of £73000
    March 2024 mortgage of £70000
    May 2024 mortgagee of £68000
  • smetf
    smetf Posts: 279 Forumite
    Name Dropper First Post Photogenic First Anniversary
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    Great progress, I'm looking forward to the mortgage starting with an 8 in the next few months!

    How're you feeling? I had Covid in December and am just beginning to feel like I'm getting back to fitness levels over the past few weeks.
    S
    Emergency fund 10k Holiday/ home fund 6k
      Mortgage £59,996.65
  • AgathaSquirrel
    Options
    That’s good to hear @smetf. My fitness levels are still poor. I swam for 40 minutes today and had to sleep for an hour and a half. Not ready to return to the gym yet but I do think it’s moving in the right direction.
    Good luck with your mortgage journey.
    2017 - mortgage of £140,000 and interest rate of £10 a day
    Feb 2021 mortgage of £103000
    May 2021 mortgage of £100000
    July 2021 mortgage of £97000
    November 2021 mortgage of £93000
    July 2022 mortgage of £84000
    December 2022 mortgage of £79000
    December 2023 mortgage of £73000
    March 2024 mortgage of £70000
    May 2024 mortgagee of £68000
  • Ibrahim5
    Ibrahim5 Posts: 1,055 Forumite
    First Post First Anniversary Name Dropper
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    Brings back memories. We took out a 'liar loan' in 2001. An IFA told us she could get us a mortgage and when we had paid for deposits and surveys presented me with a form with false salary. She said I was 'tight enough' to cope. We had a fixed interest rate for the first five years. We overpaid so after 5 years we wouldn't be repossessed if interest rates shot up. Interest rates shot down but we had got used to overpaying. The 25 year mortgage was gone in 14.
  • AgathaSquirrel
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    Not been here for a while.

    Fitness levels improving. Not back to normal but will be having a break from studying soon and can give a bit more time to going to the gym.

    Mortgage is I think at £87000. Waiting for the bank notification to say we can remortgage. Had it for the smaller one but we want to combine the mortgages into one. The second one should be end of June and we can remortgage at a lower rate. Aiming to get below £85000 by then.
    2017 - mortgage of £140,000 and interest rate of £10 a day
    Feb 2021 mortgage of £103000
    May 2021 mortgage of £100000
    July 2021 mortgage of £97000
    November 2021 mortgage of £93000
    July 2022 mortgage of £84000
    December 2022 mortgage of £79000
    December 2023 mortgage of £73000
    March 2024 mortgage of £70000
    May 2024 mortgagee of £68000
  • CCW007
    CCW007 Posts: 873 Forumite
    First Anniversary First Post Name Dropper
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    Just read through your diary - amazing progress and some really good goals there.  Well done on focussing on pensions as well, it's easily forgotten.  Hope you can get back to the gym soon.
  • AgathaSquirrel
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    No real news. We, like a lot of people, seem to be struggling more financially than usual thanks to all the price rises. I’m trying to keep the mortgage overpayments at the same level until we fix to a new deal but it’s a struggle.

    Health wise I’m doing much better. Back at the gym and improving my eating habits.
    2017 - mortgage of £140,000 and interest rate of £10 a day
    Feb 2021 mortgage of £103000
    May 2021 mortgage of £100000
    July 2021 mortgage of £97000
    November 2021 mortgage of £93000
    July 2022 mortgage of £84000
    December 2022 mortgage of £79000
    December 2023 mortgage of £73000
    March 2024 mortgage of £70000
    May 2024 mortgagee of £68000
  • savingholmes
    savingholmes Posts: 27,901 Forumite
    Name Dropper First Anniversary Photogenic First Post
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    Glad you are feeling healthier. That's the important thing.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 234 payments to go - now £181,773 Equity 27.3%
    2) Spend on handyman & external building works & new patio door £13.45K
    3) CC £8K on 0% spends card but offset by £34.3K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £11.3K/£127.5K AVC target 8.97% value at 15/7//24
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.3K at 12/7/24
  • AgathaSquirrel
    Options
    Interest down to £4.98 a day.
    2017 - mortgage of £140,000 and interest rate of £10 a day
    Feb 2021 mortgage of £103000
    May 2021 mortgage of £100000
    July 2021 mortgage of £97000
    November 2021 mortgage of £93000
    July 2022 mortgage of £84000
    December 2022 mortgage of £79000
    December 2023 mortgage of £73000
    March 2024 mortgage of £70000
    May 2024 mortgagee of £68000
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