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Comments
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Glad that you had a great time. Well done on the OP of your student loanAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.3K Equity 36.55%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £30.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 35.5/£127.5K target 27.8% 14/11/25
(If took bigger lump sum = 62K or 48.6%)
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 £5.1K updated 14/11/253 -
Wow, that is a cracking amount to pay off in one go. That must have felt pretty amazing 👍!
Glad you had a good break, shame you can't come home to wads of cash every time though!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!!!4 -
I'm quite happy to repeat the experiment, just to see if it happens againSouth_coast said:Wow, that is a cracking amount to pay off in one go. That must have felt pretty amazing 👍!
Glad you had a good break, shame you can't come home to wads of cash every time though!
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 20258 -
I like your enthusiasm for this idea 😊❤️😂Merlin's_Beard said:
I'm quite happy to repeat the experiment, just to see if it happens againSouth_coast said:Wow, that is a cracking amount to pay off in one go. That must have felt pretty amazing 👍!
Glad you had a good break, shame you can't come home to wads of cash every time though!
KKAs at 15.12.25:
- When bought house £315,995 mortgage debt and end date at start = October 2039 - now £227,385
- OPs to mortgage = £12,822 Estd. interest saved = £6,166 to date
Fixed rate 3.85% ends October 2030
Read 79 books of target 52 in 2025, as @ 24th December
Produce tracker: £453 of £300 in 2025
Watch your thoughts, they become your words.
Watch your words, they become your actions.Watch your actions, they become your reality.6 -
Glad you had a good break and well done on the tax rebate
MFW 2024 £27500/7500 Mortgage £129,500 Jan 22 Final payment June 38 Now £68489.08 FP May 36 Emergency Fund £20,000 100% Added to ISA 24 £8,060 Save 12k in 24 #31 £20,034.76/20,000 Debt Free 31.07.144 -
How much have you got left to go?Merlin's_Beard said:
I'm quite happy to repeat the experiment, just to see if it happens againSouth_coast said:Wow, that is a cracking amount to pay off in one go. That must have felt pretty amazing 👍!
Glad you had a good break, shame you can't come home to wads of cash every time though!Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.3K Equity 36.55%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £30.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 35.5/£127.5K target 27.8% 14/11/25
(If took bigger lump sum = 62K or 48.6%)
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 £5.1K updated 14/11/251 -
I think that's probably all the tax rebate I'm due, sadly. Until the whole thing starts again next year.savingholmes said:
How much have you got left to go?Merlin's_Beard said:
I'm quite happy to repeat the experiment, just to see if it happens againSouth_coast said:Wow, that is a cracking amount to pay off in one go. That must have felt pretty amazing 👍!
Glad you had a good break, shame you can't come home to wads of cash every time though!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 20253 -
Never rains but it pours - driving out to an appointment and the car went clunk and started sounding like a boy racer revving up for a drag race.
So now it's at the garage getting fitted with a new exhaust backbox and I am not going out. It circles me back to the whole "how much do I need to start looking for a new car" debate again as well as "how seriously do I need to start saving for a new car instead of getting house stuff". I was quite lucky today in that it broke two minutes from my house, on my day off, and there was a garage in my village that had space to see it and fix it (even if I can't tell my dad because it's the one he has Beef with).
When I look back on my YNAB categories, it's cost me about £1350 in repairs over 2022 and 23 (including what I'm expecting today to be) as well as £700 in services/mots (I think the timing belt change is included in that category).
I'm also lucky because if I genuinely was struggling, I could borrow a family car that isn't often used and still get to work (my parents have two cars but since they're both retired they rarely need both at the same time).
At the minute I'm throwing £100 a month into a "new car" category, and have £500 in there. If I was going to do what I did last time and buy a 2-3 year old car then that's potentially about £15-20,000 at the minute. The vague, vague plan was to let that category build up slowly for a few years, then turn my attention to it a bit more once the house was a bit more sorted. Do I still stick with that? Who knows.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 20255 -
I’m having a similar sort of debate about my car too …. It’s developing electronic ‘opinions’ …. 🙄 (I.e. it has faults that flash up and then stop again ….
KKAs at 15.12.25:
- When bought house £315,995 mortgage debt and end date at start = October 2039 - now £227,385
- OPs to mortgage = £12,822 Estd. interest saved = £6,166 to date
Fixed rate 3.85% ends October 2030
Read 79 books of target 52 in 2025, as @ 24th December
Produce tracker: £453 of £300 in 2025
Watch your thoughts, they become your words.
Watch your words, they become your actions.Watch your actions, they become your reality.4 -
I'd start ringfencing the savings at the car savings fund till it does get to 'beyond economical repair' stage, we have had a few from the easily accessible place near the airport without problems but I've always had the funds and traded in rather than finance and private sale.My mortgage free diary: +++ Divide by Cucumber Error. Please reinstall universe and reboot+++
GNU Mr Redo4
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