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Mortgage free in Forever Home :-)

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Comments

  • Humdinger1
    Humdinger1 Posts: 2,887 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper
    edited 26 November 2023 at 10:41PM
    Mmm," loving the terracotta paint xx
  • Much sympathy for me on the work challenges.

    I've only got 4 more Mondays to go but also only two more paydays...
  • skint_spice
    skint_spice Posts: 13,728 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Well done on the OP and a big yes to messy cats!
    Mortgage OP 2026 £640/2000
    Mortgage balance: £32,222

    Make £50 a month Jan £20, Feb £0, March £31, Apr
    Boiler fund £1981/3000

  • savingholmes
    savingholmes Posts: 29,167 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Well done on the OP.

    Enjoy your paint when it comes 
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £167.4K Equity 38% 3/4/26
    2) £2.5K Net savings after CCs 14/4/26 (but owed £1.1K) so £3.6K
    3) Mortgage neutral by 06/30 (AVC £38.5K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 44.4K of £127.5K target 34.8% 17/4/26 (If took bigger lump sum = 66.4K or 52%)
    4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
    5) SIPP £5.3K updated 17/4/26
  • KajiKita
    KajiKita Posts: 9,937 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    Mmm," loving the terracotta paint xx
    I’ve been calling it ‘mushroom’ - way prefer calling it ‘terracotta’!! 😊

    Thanks @redofromstart (kind of envious, kind of not 😉), @skint_spice (yaay for messy cats! 😂❤️) and @savingholmes (looking forward to seeing what the whole wall looks like in it) 😊

    KK

    As at 17.03.26:
    - When bought house £315,995 mortgage debt and end date at start = October 2039 - now £219,071
    - OPs to mortgage = £17,793 Estd. interest saved = £9,021 to date
    c. 16 months reduction in term
    Fixed rate 3.85% ends October 2030

    Read 26 books of target 52 in 2026 as @ 12th April. 
    Produce tracker: £78 of £400 in 2026

    Watch your thoughts, they become your words.
    Watch your words, they become your actions. 
    Watch your actions, they become your reality. 
  • beanielou
    beanielou Posts: 99,259 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!
    Always good to clear the air 😊
    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.
  • Glad that that's resolved - always uncomfortable to have those kind of situations hanging over you
    Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
    Current mortgage amount: £224,460.73
    Start student loan 2012: £29,750; current student loan: CLEARED July 2025
    Unread owned books Jan 2026: 256
    Undone crafts 2026: +1
  • savingholmes
    savingholmes Posts: 29,167 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Glad that that's resolved - always uncomfortable to have those kind of situations hanging over you
    Sounds well handled 
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £167.4K Equity 38% 3/4/26
    2) £2.5K Net savings after CCs 14/4/26 (but owed £1.1K) so £3.6K
    3) Mortgage neutral by 06/30 (AVC £38.5K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 44.4K of £127.5K target 34.8% 17/4/26 (If took bigger lump sum = 66.4K or 52%)
    4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
    5) SIPP £5.3K updated 17/4/26
  • Great you have moved forward on this. 
    I am glad he was spoken to about it 
    And fabulous OPs wow over £360 is no small feat 

    maybe a cat can trash their litter tray in celebration :) 
    DON'T BUY STUFF (from Frugalwoods)
    No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff.    Money doesn’t walk out of your wallet on its own accord.
    https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest
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