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Five Year Fix, Five Year Plan

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  • Merlin's_Beard
    Merlin's_Beard Posts: 1,484 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    Hurray! Exchange has happened. Literally zero guilt for setting the house developer, who has been characteristically aggressive, onto the solicitor - because it worked!
    Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
    Current mortgage amount: £226,957.97
    Start student loan 2012: £29,750; current student loan: CLEARED July 2025
  • savingholmes
    savingholmes Posts: 28,971 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Great news
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £2.6K Net savings after CCs 6/7/25
    3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
  • Merlin's_Beard
    Merlin's_Beard Posts: 1,484 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    edited 18 June 2022 at 5:45PM
    Good progress after week one of holiday.

    Tried to break down my tick list into two -

    At my current place, I've been through my wardrobe and created a pile of clothes that don't fit me anymore - mainly jeans/trousers/shorts, because I've put on weight and my backside and thighs are about two sizes bigger now. My mother is characteristically horrified that I'm not planning to lose this weight despite not noticing that I'd gained anyway. I'm choosing not to care about anything except that I'll need to go shopping again (which I hate) but it does mean I can get rid of the 10 year old low rise jeans that I felt guilty about getting rid of while I still fit into them, and get something more comfortable and small-belly hiding.

    Also done some sort of generalised tidying - garden has been given a good going over, oven has been deep cleaned, I'm in the process of using up the meat in the freezer.

    Still need to donate clothes, and do other bits and pieces - bleaching the very countertops to remove all teastains for one.

    In the new house I've got some estimates off the plans for the floors, and then had a little cry about them. I think I was expecting about £4000, but most estimates have been coming in for nearly £6000. Asked the house developers to give me a quote for theirs, because the local small business promises to beat them, then I'll organise him to go in and measure up and get a proper quote.

    I've also been able to go in this weekend and measure up for curtains. Obviously, standard sizes of drop don't fit the windows with radiators underneath but we'll see if we can alter where the curtain poles are going to go and if not my mum's offered to alter (I'm not to be trusted with sewing machines unfortunately).

    Curtain poles are ordered - off ebay, so we'll see what they look like when they get here.
    Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
    Current mortgage amount: £226,957.97
    Start student loan 2012: £29,750; current student loan: CLEARED July 2025
  • killerpeaty
    killerpeaty Posts: 2,658 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Congratulations on exchanging! When is completion? (Might have missed it)

    Will the auction house be able to deliver? Or would you rent a trailer ? I got most of my furniture from charity shops, family or FB marketplace. Off the top of my head I got my bed/mattress, a roll along bookcase (£4 because the packaging was open) and my sofa (from a discount place which deals with returns) new. Also going to an auction is actually on my bucket list so I'm jealous.
  • South_coast
    South_coast Posts: 5,884 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    Well done on having a mother that doesn't notice you've gained weight - mine always points it out 🤣!
    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!!!
  • Merlin's_Beard
    Merlin's_Beard Posts: 1,484 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    Congratulations on exchanging! When is completion? (Might have missed it)

    Will the auction house be able to deliver? Or would you rent a trailer ? I got most of my furniture from charity shops, family or FB marketplace. Off the top of my head I got my bed/mattress, a roll along bookcase (£4 because the packaging was open) and my sofa (from a discount place which deals with returns) new. Also going to an auction is actually on my bucket list so I'm jealous.
    Still not sure on completion - due July at some point - when we were in there today half the wall sockets were just a wire hanging out a hole in the wall. Radiators on though, so at least I can start visualising where stuff can fit.

    Online auction unfortunately so no coughing in the wrong place and accidentally buying a lot or being the mystery bidder. :D

    Anything I end up getting from there I'll have to pick up so trying to limit to things I can lob in the car. Thankfully been renting for 10 years so I don't desperately need big stuff until I'm in and settled. And it's meant to be good for things like light fittings. Also keeping an eye on FB marketplace.
    Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
    Current mortgage amount: £226,957.97
    Start student loan 2012: £29,750; current student loan: CLEARED July 2025
  • Merlin's_Beard
    Merlin's_Beard Posts: 1,484 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    Well done on having a mother that doesn't notice you've gained weight - mine always points it out 🤣!
    It balances out all the times she's asked me if I've gained weight when nothing's happened, gotta get lucky once  :D
    Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
    Current mortgage amount: £226,957.97
    Start student loan 2012: £29,750; current student loan: CLEARED July 2025
  • savingholmes
    savingholmes Posts: 28,971 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    On the carpets / flooring you don't need to do it all at once. 

    In our first newbuild we lived without flooring for quite a while - and just polished the black cement type floor.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £2.6K Net savings after CCs 6/7/25
    3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
  • killerpeaty
    killerpeaty Posts: 2,658 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    On the carpets / flooring you don't need to do it all at once. 

    In our first newbuild we lived without flooring for quite a while - and just polished the black cement type floor.
    This is a good point, you can get some nice rugs to cover up the floors if you really don't like it. Rugs don't have to be expensive.
  • Merlin's_Beard
    Merlin's_Beard Posts: 1,484 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    Thanks @savingholmes and @killerpeaty

    I have thought about doing it piecemeal, but I will get a discount for doing the whole thing in one go so it's going to work out cheaper in the long run to get it done in one go. It is within budget still even at the higher price, and possibly room to haggle down (the company I'm using has promised to beat any offer by the developer so I've asked them for a quote as well).
    Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
    Current mortgage amount: £226,957.97
    Start student loan 2012: £29,750; current student loan: CLEARED July 2025
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