The Skylarks Journey

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  • Merlin's_Beard
    Merlin's_Beard Posts: 1,424 Forumite
    First Post First Anniversary Name Dropper
    Just a little update for the month;

    Mortgage payment went out followed by an overpayment so currently dropped below the £157k. 

    Made over £60 from Chase so far and got another 3 referrals to go however they are in the waiting room for Chase. 

    Applied for a new job and was meant to hear back at the end of June…Got an email last week offering me the position! Just waiting on the start date which also comes with a much better salary 🎉
    Congratulations on the new job! And definitely congratulations on the pay rise!
    Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
    Current mortgage amount: £233.529.75
    Start student loan 2012: £29,750; current student loan: £11.400.50; OP offset fund: £750
  • savingholmes
    savingholmes Posts: 27,259 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Congratulations on the new role and your OP.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • Wow…It’s nearly been 6 months since we got the keys to our home :o So just a little update;

    Started my new job a few weeks ago and currently just trying to settle in and find how everything works…It’s also a shock to the system only working 8am till 4pm - I’ve still kept my previous job on as well however on a reduced hours contract as it’s some extra money in the bank every month for a few hours working at night. 

    So far we’ve only overpaid the mortgage by just over £400 however I’m hopeful come October we can start overpaying more depending on the bills situation. We extended the patio out for the Summer, tiled the Kitchen and done some landscaping at the front which all reduced the overpayments.

    We have also spotted a potential future home on the development that isn’t move in until 2024…We’ve enquired at the office and have our names listed as an interest. We’re hoping that this gives us enough time to continue overpaying and saving for a potential move. If it doesn’t happen we’ll just use the saved up money to overpay the mortgage anyway.  :)
    Mortgage Starting Balance - £158,000.00
    Mortgage Outstanding - £157,271.91
    Term Left - 39 Years / 10 Month 

  • savingholmes
    savingholmes Posts: 27,259 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Sounds like things are going well 
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
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