Burning the mortgage and kindling FIRE

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Hello everyone, I have been following along on this thread for a long time. I have learned so much from you and have changed our plans for the better due to nuggets shared. I hope to use this thread as a diary to capture our journey with its twists and turns.
I live in Scotland with my husband and two school age kids, a dog, a cat, a hamster and chickens.
We completed building our home a number of years back and have been recovering financially since. Now the debt has gone the current plan is to be mortgage free in 4 years and FIRE in 10. We are paying down the mortgage, increasing our savings by both increasing pension contributions and ISA contributions. Along the way I want to knock the garden into shape and enjoy what we have.
Edgeoftheburn
«1345

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  • South_coast
    South_coast Posts: 4,977 Forumite
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    Welcome and good luck - I LOVE your title 😀😀😀!
    Mortgage start: £65,495 (March 2016)
    Cleared 🧚‍♀️🧚‍♀️🧚‍♀️!!! In 5 years, 1 month and 29 days
    Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed

    Finally earning interest instead of paying it!!!
  • Edgeoftheburn
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    Thank you for the welcome South_coast! You are so close, I hope you have a suitable celebration planned 🥳
  • South_coast
    South_coast Posts: 4,977 Forumite
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    Thank you 😀! Nothing planned yet, will have to get my thinking cap on....
    Mortgage start: £65,495 (March 2016)
    Cleared 🧚‍♀️🧚‍♀️🧚‍♀️!!! In 5 years, 1 month and 29 days
    Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed

    Finally earning interest instead of paying it!!!
  • Chiglepig
    Chiglepig Posts: 611 Forumite
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    Looking forward to following your progress, @Edgeoftheburn, I was a lurker too!
    2014 starting mortgage £165,000
    2015 second charge £20,000 - Jan 2021 paid off in full
    Current outstanding balance - £115,856



  • ilselm
    ilselm Posts: 132 Forumite
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    Great thread title. I’ll be looking forward to seeing how your journey progresses and cheering from the sidelines as we share some similar goals and timeframes; including taming the wild garden! 
  • Edgeoftheburn
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    It is great to have your company Chiglepig and ilselm, much more fun to have chat along the way with like-minded folks!
  • Poppycat1
    Poppycat1 Posts: 376 Forumite
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    Welcome, I'm looking forward to reading about your journey.  
    Without overpayments: 15 years, 1 monthsBecause of overpayments: 10 years, 10 months left until paid off
  • Edgeoftheburn
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    Thanks for the welcome Poppycat1, I have found your diary and will follow your journey too. Keen to learn more about these surveys!
  • kaycastle
    kaycastle Posts: 363 Forumite
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    edited 20 May 2021 at 4:35PM
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    I love the diary title too and will be following along :)

    I too have a crazy garden, done a lot of cutting back last few years. Today we got out two stumps and started taking up the grass on an area we are going to turn into raised beds separated by little stones.
  • Edgeoftheburn
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    Hello kaycastle, digging out stumps and lifting grass is hard work will be totally worth it when you can start growing in the space. What are you using for raised beds? We used pallet collars for our veg beds, they are now in their third year and going strong was a really inexpensive and easy way to do it.
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