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Mortgage free by 2025

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  • Mickyh-s
    Mickyh-s Posts: 287 Forumite
    Seventh Anniversary 100 Posts Photogenic Name Dropper
    I have burgers out the freezer (leftover from a bbq). DH wants chilli for dinner so I am going to try my best to deliver - I think lots of seasoning is in order!
    Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,000
  • Mickyh-s
    Mickyh-s Posts: 287 Forumite
    Seventh Anniversary 100 Posts Photogenic Name Dropper
    At the weekend, I decided I wanted to try to get some sun before the winter set in. Not very MSE but I booked a holiday to Tenerife for 4 weeks time. I usually book a year in advance but like the new me who's attitude was 'sod it, you only live once!' I have been throwing all spare cash at the mortgage from the beginning of this year and didn't have as much fun as I should have had. So what with that and DH diagnosis earlier this summer the holiday is booked.

    I put it all on my cc and have applied for a balance transfer card with no fees for 15 months. It will be paid off by end of January at the very latest as I want to op the 10% off the mortgage by the end of 2022 also but it's all doable. 

    The new me is to be a bit more spontaneous!
    Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,000
  • Mickyh-s
    Mickyh-s Posts: 287 Forumite
    Seventh Anniversary 100 Posts Photogenic Name Dropper
    The seasoning worked a treat. I can confirm, the chilli tasted like chilli and not burgers! 😂 Got approx. 6 portions so will pop some in the freezer for another week. 
    Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,000
  • savingholmes
    savingholmes Posts: 28,426 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I would want the holiday too. 

    You are heading in the right direction overall. 

    Life is for living too - and if you do manage to sell the BTL it will likely take care of your mortgage anyway. 
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 231 payments to go - now £178.5K Equity 28.6% cf £250K purchase
    2) Spend on handyman, external building works, patio door, hard landscaping, floor £25.3K
    3) CC £20.8K on 0% spends card offset by £31.3K savings
    4) Mortgage neutral by 06/2030 (AVC £15.1K + Lump Sums DB £4.6K + SiPP 1K) 20.6/£127.5K target 16.16% value at 15/11/24
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.5K at 15/9/24
  • Mickyh-s
    Mickyh-s Posts: 287 Forumite
    Seventh Anniversary 100 Posts Photogenic Name Dropper
    It's difficult to treat yourself when you have been careful for so long @savingholmes . I always feel guilty spending money on my wellbeing!

    We have had an offer on the BTL which we have accepted. It is an investor so there is no chain and hopefully things will move quickly which will enable us to pay off the mortgage on our home. I feel the noose starting to loosen slightly...
    Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,000
  • Mickyh-s
    Mickyh-s Posts: 287 Forumite
    Seventh Anniversary 100 Posts Photogenic Name Dropper
    Got some chicken legs out of the freezer this morning.  I will cook them this evening for DH to have for lunch. They were leftover from the bbq so even though the bbq cost me approx. £100, we have eaten for the last 10 days the food which didn't get cooked. I think I even have a bit of salad left to use up in the fridge and a packet of chipolatas. The leftover chilli from last night DH wants for dinner again tonight and two portions went into the freezer for another night.
    Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,000
  • savingholmes
    savingholmes Posts: 28,426 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Great news on the sale! That must be such a relief. 

    Well done on using up all the BBQ leftovers. Sounds like a triumph.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 231 payments to go - now £178.5K Equity 28.6% cf £250K purchase
    2) Spend on handyman, external building works, patio door, hard landscaping, floor £25.3K
    3) CC £20.8K on 0% spends card offset by £31.3K savings
    4) Mortgage neutral by 06/2030 (AVC £15.1K + Lump Sums DB £4.6K + SiPP 1K) 20.6/£127.5K target 16.16% value at 15/11/24
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.5K at 15/9/24
  • Mickyh-s
    Mickyh-s Posts: 287 Forumite
    Seventh Anniversary 100 Posts Photogenic Name Dropper
    edited 15 September 2022 at 5:24PM
    Thanks @savingholmes. Just hope it all goes through smoothly. 

    Sausages out of the freezer for dinner tonight (left from the bbq). Just doing mash, veg and gravy with them. 

    We are out with friends tomorrow night at a nice little pizza !!!!!! then on Saturday night we are at my sister's for dinner. Sunday we are going to the coast. Dh has relatives ashes to scatter and will have fish and chip supper whilst the dog plays in the sea!  Monday is a day to reflect and I have some chores which will need doing too. Off work tomorrow so it will be a long 4 day weekend.
    Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,000
  • Mickyh-s
    Mickyh-s Posts: 287 Forumite
    Seventh Anniversary 100 Posts Photogenic Name Dropper
    I'm off today and the sun is shining! I got up and went out for a walk this morning. Put two loads of washing on and dried on the line, done some ironing, made lunch for dh and I. Had lots of bits that needed using up. I washed up, walked the dog and put the washing away. Going to sit with the dog for a bit and have a cheeky nap - I need it as I'm out this evening! 🤣
    Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,000
  • savingholmes
    savingholmes Posts: 28,426 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Enjoy your nap. I had one today too.

    Hope trip to coast and seeing relatives goes well.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 231 payments to go - now £178.5K Equity 28.6% cf £250K purchase
    2) Spend on handyman, external building works, patio door, hard landscaping, floor £25.3K
    3) CC £20.8K on 0% spends card offset by £31.3K savings
    4) Mortgage neutral by 06/2030 (AVC £15.1K + Lump Sums DB £4.6K + SiPP 1K) 20.6/£127.5K target 16.16% value at 15/11/24
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.5K at 15/9/24
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