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Ninety months to pay off mortgage - or as near as dammit!

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Comments

  • beanielou
    beanielou Posts: 99,789 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!
    Glad that you had a good day  :)
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** in ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger.
    One debt remaining. Home improvement loan. 19months left.
  • skint_spice
    skint_spice Posts: 13,747 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Thanks Beanie x
    Mortgage OP 2026 £860/2000
    Mortgage balance: £31,763

    Make £50 a month Jan £20, Feb £0, March £31, Apr £20, May £20


  • savingholmes
    savingholmes Posts: 29,200 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Wow those views are stunning. Gorgeous. Thanks for sharing.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £167.4K Equity 38% 3/4/26
    2) £2.1K Net savings after CCs 14/5/26 (but owed £1.3K) so £3.4K
    3) Mortgage neutral by 06/30 (AVC £42.2K + Lump Sums DB £4.6K + (25% of SIPP 1.4K) = 48.2K of £127.5K target 37.8% 24/5/26 (If took bigger lump sum = 70.1K or 55%)
    4) FI Age 60 income target min £17.1/30K 57% (may need more) If bigger lump sum £15.8/30K 52.67%
    5) SIPP £5.6K updated 16/5/26
  • skint_spice
    skint_spice Posts: 13,747 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    It was lovely to see those blue skies and talk nonsense to Elantan just floating about watching those clouds felt so peaceful.  I was totally chilled then I went back to work today...
    I am going to have a glass of something fizzy and alcoholic and try to get back to that calm place.
    Mortgage OP 2026 £860/2000
    Mortgage balance: £31,763

    Make £50 a month Jan £20, Feb £0, March £31, Apr £20, May £20


  • elantan
    elantan Posts: 21,022 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Friday ? a wee adventure waiting to happen ? get out to a happy place for the two of us 
  • elantan
    elantan Posts: 21,022 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Although Mr El is making jelous grumbling noises  :D  :D  :D 
  • skint_spice
    skint_spice Posts: 13,747 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    elantan said:
    Although Mr El is making jelous grumbling noises  :D  :D  :D 
    You will have to take him somewhere nice on saturday!

    Adventuring it is!

    This morning I have been mainly playing with the snowball calculator as my cc has crept up, if I do as planned I will be rid of that and my car loan by 2025 which isn't bad as car loan was supposed to end in 2027.
    Mortgage OP 2026 £860/2000
    Mortgage balance: £31,763

    Make £50 a month Jan £20, Feb £0, March £31, Apr £20, May £20


  • savingholmes
    savingholmes Posts: 29,200 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Sounds like time well spent then
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £167.4K Equity 38% 3/4/26
    2) £2.1K Net savings after CCs 14/5/26 (but owed £1.3K) so £3.4K
    3) Mortgage neutral by 06/30 (AVC £42.2K + Lump Sums DB £4.6K + (25% of SIPP 1.4K) = 48.2K of £127.5K target 37.8% 24/5/26 (If took bigger lump sum = 70.1K or 55%)
    4) FI Age 60 income target min £17.1/30K 57% (may need more) If bigger lump sum £15.8/30K 52.67%
    5) SIPP £5.6K updated 16/5/26
  • skint_spice
    skint_spice Posts: 13,747 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Had a lovely MSE day yesterday putting the world to rights with El but it was back to work today😱

    Mortgage OP 2026 £860/2000
    Mortgage balance: £31,763

    Make £50 a month Jan £20, Feb £0, March £31, Apr £20, May £20


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