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plodding along one step at a time

the_cross_rabbit · 2022-07-05 12:02:32

I've decided a new diary is needed to refocus my mind on getting this mortgage paid off as quick as possible. Checked the mortgage balance this morning and it currently stands at £60,568,56 and has 14 yrs and 8 months to go. Our current mortgage deal ends 31/3/2024, I dread to think what the interest rates will be like…

Comments

savingholmes Posts: 29,017 Forumite

21 October 2022 at 6:42PM

Sorry that the unit hasn't been great. Well done to your DD on persevering. It can be such a struggle as a parent to watch your kids suffer and not really be able to offer the help they need/want.

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
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