Mortgage free in Forever Home :-)

f0xh0les

There used to be a template, back in the dim and distant past, of a house made up of 100 bricks.
It was a crude depiction as it was made out of [] [] and // and ^^s , but it was house shaped,  and brick shaped, and two stories tall, and we all printed one out and stuck it on the fridge door ( before kitchens were sterile food  operating theatres to be envied by peacocks), we worked out what our 1% was and coloured in a brick every time that 1% was paid off. Mortgage payment +o/p.    Low- tec I know 
We celebrated everybody's brick.
We celebrated each time someone 'owned' their roof ( I think there was a chimney)
We celebrated every time someone 'owned' their ground floor. 
We celebrated every tiny brick, because they all add up to 100.
DH could not see past the 'whole' and did not get on board until we were under £90k because then 10% was doable in his head. He thought I was insane, if I could not pay off the whole 10%  what was the point? Well..... It means a better deal when you come to remortgage, if you scrape under the 80% 70% 60% LTV etc. The monthly payment goes down, and you have more money to throw at o/ps.  So 1%s might well be the way to go. 

Brie

KajiKita said:

Sympathies @greenbee and hugs x

Interesting thoughts @MissRikkiC … and yes, it seems interminable … Sympathies to you too. 

Actually, whilst cogitating on this, I think a lot of it is tied up in how insecure I feel in paid employment these days. Not because I think I am at risk for any particular reason, but probably because I am constantly doubting myself so much after my last role. I have a loop going around in my head saying something along the lines of:
”You’re going to fail / not be good enough,
you won’t see it coming,
they will get rid of you, 

you will be out of work,
you won’t get another job,
you won’t be able to afford the mortgage,
you will lose everything”. 

Real doomsday-scenarioing when I stop and look at it actually. 

KK

I quite get this as it's how my OH thinks a lot of the time.  

So when I found out I was being made redundant I thought through all the positives so I had them ready when I told him.  Like the redundancy money was a year's pay tax free and immediate, that I could immediately take all my shares out of the company which was about another year's pay, that I was so close to retirement age I could start collecting my pension.  Now 3 years later not all of these things have happened (i.e. haven't sold all the shares and am still wrangling my pensions) but things have drifted along quite nicely.

So to rethink your scenario....

You'll be surprised by the unexpected but have the background to deal with it.
You have the support network of friend and family both online and IRL.
Your network will support you emotionally and give practical assistance to find you a new role.
You'll continue to have an income from work as long as you want one and will pay off your mortgage before you want to retire.  
You will gain fulfillment and satisfaction for being financially prudent and organised and realise the unexpected can add delight to your life.

edited to add - (& not in a smug way) - being mortgage free is lovely.  Happened about 5 years earlier than I had planned.

Twolabsandacat

I wonder if our core values are helpful here?  By that, I mean that there was a reason you choose this house and made these decisions which I suspect are linked to your personal core values?  Whilst we dont have long left on our mortgage, i sometimes wonder if we could have pushed ourselves further - bigger, in a nicer area etc but we have stayed in the same house for 20 odd years and renovated, changed and extended it as the children grew because my core value was to provide a safe stable home for them.  When i think of things in these terms things just feel easier, if that makes sense.  What is it about the house that feels 'right' for you? Hold on to that and maybe the mortgage term will feel easier, even if it is actually not.

LadyWithAPlan

Loving everyones wisdom here - and the 1% slice £2400 op a year is a great goal to aim for and hopefully get above each year 

KajiKita

Thanks All. I haven't been ignoring you but quietly cogitating.

@f0xh0les I have a fill in £500 'bricks' spreadsheet but I don't find it especially motivating ....

Thanks @Brie, all true, encouraging, reassuring things (though I am less sure about the family support!  ) 

@Twolabsandacat, wow this really resonates. I have realised that I am so focused on where I am going, what is left to achieve, I have forgotten where we have come from and where we are now. To that end I have been focusing quite strongly on gratitude this week - for our home, our location, the garden, for all the things we have done to improve it already, for Mr KK, for our daft little cat Chloe, our mostly okay health and mobility etc. It has really shifted something and I feel much more evenly focused and balanced. Thank you for that

Yes, @LadyWithAPlan, I think a 1% OP is probably the most realistic aim

In other news .... work has been a bit grim this week. I am getting cut down and treated like an idiot (being left to fail at things she is asking me to do) by the woman I am working with and meant to be taking over from. We are MASSIVELY different people but she is verging on rude and I find it pretty unconstructive and unprofessional. I came really close to losing my temper twice with her earlier in the week. I am also struggling with another manager and the whole place is pretty shambolic but I can't change anything as every time I do or suggest something I get flattened by the person who has already been doing the job. 

I am getting frustrated with the 8.30am to 5pm fixed working hours, as I feel its a late finish and leaves me with very little evening, by the time have driven home, cooked, prepped for the following day and showered. I am meant to be getting a £5K payrise in June if I pass my probation (do I trust this?) but I suspect that H&S will be added to my existing role which I really don't want (I really ought to start leaving this out of my CV! )

I had a message from a recruiter this morning who is recruiting for my kind of role 12 minutes from me. They want someone personable who can properly deal with and not hide from customers. The salary is a bit low (they might be willing to move on it) but that commute could be life changing in terms of quality of life! The MD is brand new, been in the role for c. 8 weeks and is recruiting a new team. It sounds like they are in a mess atm but the parent company believes in them and will give them the time to sort themselves out. It's (another!) new industry but one I would find interesting. There is no job spec to review as yet ...

 Apparently the way this recruiter works is to make a video of the person who is recruiting, talking about what they want from the role and then the candidate makes one to respond. I should be getting the video over the weekend and I have an appointment with the recruiter at 6pm Monday to make my reply-video! Who knows ... could be interesting and nothing to lose by trying, hey?  

KK

KajiKita

Oh and payday has landed - so money -shuffle this weekend   

KK

redofromstart

Sounds like a good fit for you, although the video bit is an interesting approach.  

dawnybabes

Supposes it speeds stuff up - you don’t owe this company anything and you work to live not live to work ! 

debtfreewannabe321

Could you survive on the wage from the other company? Thrive on it? 
I think a tiny commute, getting in whilst the MD is relatively new and time back into you would be amazing. My DP new job was a new role with a new boss above him, and so he's been able to mould the role around his strengths. Is that something you would be able to do? If so that would be another tick for me! Hope you have a great weekend 😊

Watty1

oh I love the video idea - you can get so much from seeing a person, how they present, how personable they are and bluntly if you could work with them instinctively.    Plus 12 mins from home would score highly for me who, until I only had to walk downstairs, had journeys that took at least an hour.  Being close to home is an absolute win and the life balance thingummy we all talk about would so improve!