GAP and LMG, can we become mortgage free?

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  • Caught up and followed you over GAP. You're doing great with the OP fund! 
    Debt at LBM (Dec 2018): £23,167
    Debt free Feb 2021
  • girlatplay
    girlatplay Posts: 3,883 Forumite
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    Caught up and followed you over GAP. You're doing great with the OP fund! 
    Thank you.  It feels a bit slow but I'm only a couple of days in.

    We have ordered a sofa.  I had to compromise on where the dining table is in the room but I'm looking forward to having something comfortable to sit on in around 6 weeks.  That wasn't cheap, even though we chose the cheaper option.  One thing ticked off the list though.

    Was hoping to have a bit more to OP today but not had payouts yet so today = another £1.
    Mortgage at 12/07/2022 = £175,000
    Mortgage today = £166,457.86
    300 282 payments to go.
    House buyout fund £3,261.67/£40,000
    Random Pick Fridays = £80.01
  • beanielou
    beanielou Posts: 90,107 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
    Good news on the forthcoming sofa  :)
    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.
  • savingholmes
    savingholmes Posts: 27,259 Forumite
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    Sofa will be worth it. You spend a lot of your life on it. 

    Your mortgage is making great progress already.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • girlatplay
    girlatplay Posts: 3,883 Forumite
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    I'm so looking forward to sitting on a sofa again @beanielou and @savingholmes.  Getting a bit sick of the garden chairs.  Good for lounging in, in the garden but not so much when you want to cozy in in front of the telly of an evening.  Not that we have telly, no wifi so no TV, but you know what I mean.

    Just another small OP today = £1.
    OPs up to £15 now.  Hoping I'll put a wee bit more in next week.
    Mortgage at 12/07/2022 = £175,000
    Mortgage today = £166,457.86
    300 282 payments to go.
    House buyout fund £3,261.67/£40,000
    Random Pick Fridays = £80.01
  • joedenise
    joedenise Posts: 16,544 Forumite
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    Is LMG matching your OPs or are you just putting them into a savings account for the time being?

  • savingholmes
    savingholmes Posts: 27,259 Forumite
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    Glad you have something to sit on while you wait - but it will make you appreciate the new sofa all the more. 

    Well done on the OPs.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • girlatplay
    girlatplay Posts: 3,883 Forumite
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    joedenise said:
    Is LMG matching your OPs or are you just putting them into a savings account for the time being?

    I'm putting them into a savings account so they are not actually true OPs, I'm just calling them that.  I've added the last line to my signature as it seems that my brain likes to see balances reducing.

    Glad you have something to sit on while you wait - but it will make you appreciate the new sofa all the more. 

    Well done on the OPs.
    Yes, it could be worse, but garden chairs are not a long term solution for seating requirements.  I do feel lucky and appreciate that we are in a position to buy new furniture.
    Mortgage at 12/07/2022 = £175,000
    Mortgage today = £166,457.86
    300 282 payments to go.
    House buyout fund £3,261.67/£40,000
    Random Pick Fridays = £80.01
  • girlatplay
    girlatplay Posts: 3,883 Forumite
    Photogenic Name Dropper First Anniversary First Post
    I had an Italian afternoon tea with my sister this afternoon.  Was my gift to her for her birthday last month.  That was us just getting around to having it.  We had an extra drink which came to more than I anticipated.  Payday is not until Friday so I had to dip the dipping account a little.  No big drama and we had a lovely afternoon.

    I had a survey payout today so OP = £7
    Mortgage at 12/07/2022 = £175,000
    Mortgage today = £166,457.86
    300 282 payments to go.
    House buyout fund £3,261.67/£40,000
    Random Pick Fridays = £80.01
  • beanielou
    beanielou Posts: 90,107 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
    Italian afternoon tea sounds a delight  :grin:
    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.
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