Burning the mortgage and kindling FIRE

Edgeoftheburn

Thanks @powerspowers, well done reaching the £108's you must feel that double figures is within touching distance!

powerspowers

Yes it feels close, if we chucked our savings at it we’d be under £100k so that’s a win 🏆 

Edgeoftheburn

Popping back with an update, just completed the annual review and totally shocked to realise we are now mortgage neutral. We have more in various savings than left on the mortgage. 

With these interest rates I am so happy we decided a number of years ago to prioritise paying down the mortgage aggressively.

Current projection for mortgage free is Jan 2026, hoping to bring that in to 2025 but we do want to have fun along the way. Holidays are very important to us and the kids are growing fast so not so many family trips left.

South_coast

Wow, congrats on the neutrality 😀😀😀!!! 

Cornish_mum

Congratulations 

Edgeoftheburn

Thanks South_coast and Cornish_mum!

We have enjoyed a nice bottle of wine tonight to celebrate 🎉. 

savingholmes

Congrats on being mortgage neutral. 

Chuckled at the bank person querying the small overpayment amounts.

beanielou

Amazing result 

Edgeoftheburn

It's been a while since I last posted, mortgage burning down nicely and fingers crossed will be gone in the next 7 paydays. It feels incredibly surreal and will be down to a combination of chucking everything at it, an old endowment maturing and my brother sharing some good fortune.
Beginning to think about how to best save the current mortgage payment to edge towards fire, all while racing against my Mum's dementia decline. I hope to have enough saved so I can care for her full time when needed. The bonus of living well below income for so long is that we can survive on one salary quite well but a nice buffer would help with the scariness of stopping work.

Edgeoftheburn

Still ticking along and putting every penny to the mortgage. Hoping the wind stays behind us and if so we should be opening a bottle of fizz in 5 months. I applied for parental leave for October, just for 2 weeks, but it will be possible as the mortgage will be gone, kids are growing so want to make the most of the holidays with them from now on.