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GAP and LMG, can we become mortgage free?
Comments
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Missed a wee day there but my excuse is that we're really busy at work and I couldn't look at a screen any longer last night. Probably shouldn't be tonight either but I'm heading to bed shortly.
Kept up the PAD so got £2 to report, one each for yesterday and today.Mortgage at 12/07/2022 = £175,000
Mortgage today = £161,690.76
300 271 payments to go.House buyout fund £21,000/£40,000
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Hope you sleep well 😴I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.2 -
Well done on the PADs. Sleep well.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
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 £5K updated 10/10/251 -
Good work on keeping up the PADs. I'm debating going with the PAD method in the new year but it would involve a big change around in the way we do things financially I think, and I probably wouldn't be able to do them directly to the mortgage either as MrEH would be driven mad by daily OP's!
Yes - lack of space definitely focuses the mind on emptying boxes after a move. I am glad we decided to do the same thing this time regardless mind you. Having been in 3 months we are now starting to hit the point of "wonder where we put X..." though!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
Balance as at 31/08/25 = £ 95,450.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her2 -
Proof 😂😂😹
It looks slightly better the way up!! 😹😹 I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.2 -
beanielou said:Hope you sleep well 😴
Thank you both. I seem to be sleeping okay which is good.savingholmes said:Well done on the PADs. Sleep well.
I used the PAD method to get debt free at one point. I joined the thread and it was absolutely brilliant for me. I'm only really doing it now to keep adding a little every day. I know it's better to be saving but it doesn't have the same competitive (with myself) feeling that paying off debt did. I wouldn't go back though.EssexHebridean said:Good work on keeping up the PADs. I'm debating going with the PAD method in the new year but it would involve a big change around in the way we do things financially I think, and I probably wouldn't be able to do them directly to the mortgage either as MrEH would be driven mad by daily OP's!
Yes - lack of space definitely focuses the mind on emptying boxes after a move. I am glad we decided to do the same thing this time regardless mind you. Having been in 3 months we are now starting to hit the point of "wonder where we put X..." though!
🤣🤣🤣 I absolutely love this. Totally made my day seeing that. You could get a job in your local chippy. It's better wrapped than not though.beanielou said:Proof 😂😂😹It looks slightly better the way up!! 😹😹Mortgage at 12/07/2022 = £175,000
Mortgage today = £161,690.76
300 271 payments to go.House buyout fund £21,000/£40,000
3 -
It's been a busy old week. I'm glad that's over. Not much planned for the weekend but I'm looking forward to having a quiet one and just pottering.
I did £1 PAD on each of Wednesday and Thursday, and I cashed out £5.38 from surveys today so rounded that up to £6 and PADed that today.
Total PADs from last couple of days = £8.
Buy out fund balance at today = £2470.Mortgage at 12/07/2022 = £175,000
Mortgage today = £161,690.76
300 271 payments to go.House buyout fund £21,000/£40,000
1 -
Nearly at £2.5k
Enjoy your weekend.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.2 -
Great PADs they make a difference and you are earning interest which is lovely.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
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 £5K updated 10/10/251 -
Yesbeanielou said:Nearly at £2.5k
Enjoy your weekend.
It's the next weekend now!
They really do make a difference.savingholmes said:Great PADs they make a difference and you are earning interest which is lovely.Mortgage at 12/07/2022 = £175,000
Mortgage today = £161,690.76
300 271 payments to go.House buyout fund £21,000/£40,000
2
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