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Five Year Fix, Five Year Plan

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  • 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. 
    If it came to it and I didn't have the funds ringfenced, I'd drain the emergency fund to add to trade in value + whatever I had saved (and shuffle from elsewhere if necessary). Definitely not considering finance.

    You've stumped me with the easily accessible place near the airport 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 2025
  • redofromstart
    redofromstart Posts: 5,852 Forumite
    Eighth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 19 December 2023 at 9:01PM
    Cryptic crossword time.
  • Motorway 🤔?
    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!!!
  • rtandon27
    rtandon27 Posts: 5,689 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Merry Christmas MB 🎄🤶🎅 - Wishing you a very festive season!
    4 YEARS 10 MONTHS DEBT FREE!!! (24 OCT 2016)
    (With heartfelt thanks to those who have gone before us & their indubitable generosity.)
    ...and now I have a mortgage! (23 AUG 2021)
    New projection - 14 YEARS 10 MONTHS LEFT OF 20 YEARS (reduced by 15 mths)
    Psst...I may have started a diary!
  • savingholmes
    savingholmes Posts: 28,971 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Sorry you're not getting much of a break. Hope the time off that you do have helps.
    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
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