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Long time lurker with some decisions to make

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Comments

  • hartlepool_jono
    hartlepool_jono Posts: 31 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Well... I decided to just pay the penalty for early redemption and get it done. I'm 150400 lighter but it feels good.. 42 years old. 500k ish value house. And all paid for. Over the moon. 
  • Mortgage_Minimiser
    Mortgage_Minimiser Posts: 341 Forumite
    Part of the Furniture 100 Posts Name Dropper
    Congratulations! Great  achievement, it must feel amazing! 
    Mortgage 1 - 01/2/2015 - £243,750 ; Mortgage 01/11/2024 - £132,576.55
    Mortgage 2 - 2019 - £76,600 ; Mortgage 01/10/2024 - £47,763.29
    MFit-T5 - reduce to £140,000 MFiT-T6 - reduce to £110,000

    01/10/2024 Daily Interest - M1 = £18.27 (!!); M2 = £7.41

    Debt at highest point in 24 -£21,344
    Debt 1st November 24 - £16,192.18 24% paid. Focusing on this in earnest!!!
  • South_coast
    South_coast Posts: 5,935 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    Congratulations, well done 😀😀😀!
    Mortgage start: £65,495 (March 2016)
    Cleared 🧚‍♀️🧚‍♀️🧚‍♀️!!! In 5 years, 1 month and 29 days
    Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed

    Finally earning interest instead of paying it!!!
  • powerspowers
    powerspowers Posts: 1,347 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Congratulations Jono!! Exciting times 
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £6,055
    MFW 2025 #27 £2,850/£5,000


  • killerpeaty
    killerpeaty Posts: 2,658 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Congratulations! Glad you made your decision!!
  • savingholmes
    savingholmes Posts: 29,034 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Congratulations
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £172.5K Equity 36.11%
    2) £1.6K Net savings after CCs 14/8/25
    3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
    (If took bigger lump sum = 53.3K or 41.8%)
    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 £4.8K updated 29/7/25
  • hartlepool_jono
    hartlepool_jono Posts: 31 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Thanks all,,, now i just need to try and build my (depleted) pot back up. 
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