GAP and LMG, can we become mortgage free?

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  • girlatplay
    girlatplay Posts: 3,883 Forumite
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    beanielou said:
    Italian afternoon tea sounds a delight  :grin:
    It was actually lovely.  We love an afternoon tea but we are more savoury than sweet people and there was more savoury than sweet so suited us very well.
    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: 90,117 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
    I just like everything  :neutral:
    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: 27,280 Forumite
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    beanielou said:
    I just like everything  :neutral:
    This is my problem too .

    Well done on the OP GAP. Afternoon tea sounds lovely. Lovely to have a dipping pot.


    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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    beanielou said:
    I just like everything  :neutral:
    This is my problem too .

    Well done on the OP GAP. Afternoon tea sounds lovely. Lovely to have a dipping pot.


    Lucky to have a dipping pot.
    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
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    Slightly bigger OP this morning.  Paid off this month's cc bill and had £24 left in the cc account.  That's quite a lot to be left, I usually have anything up to about £10 so I've either miscalculated somewhere or something is not showing up yet.  If it's something not showing up I'll just take the hit when it does and pay from either the dipping fund or from the slush fund when I get paid.  I've miscalculated before (always over-calculated, never under, thankfully) so there's a good chance this is correct.

    So, today's OP = £24
    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've had the final bill from my previous broadband supplier.  They owe me £7.49 which I will get by cheque, apparently.  I had my usual £22 ready for July's bill so I have paid £14 of that to the OP account and will hang on to the other £8 for now.  I'll probably use it for OPs in the next few days.

    Further OP today = £14.
    That rounds the OPs to a nice £60.
    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
  • savingholmes
    savingholmes Posts: 27,280 Forumite
    Name Dropper First Anniversary Photogenic First Post
    OPs are coming along well already given how little time you've had your mortgage.
    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
    Photogenic Name Dropper First Anniversary First Post
    OPs are coming along well already given how little time you've had your mortgage.
    When I'm in the zone, I'm truly in the zone.  This is how I paid my debt off faster.  Just wish it was going directly to the mortgage.
    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
  • savingholmes
    savingholmes Posts: 27,280 Forumite
    Name Dropper First Anniversary Photogenic First Post
    If it's any consolation most of my spare £ is going to EF and pension as a version of mortgage neutral rather than direct off the mortgage. 
    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
    Photogenic Name Dropper First Anniversary First Post
    If it's any consolation most of my spare £ is going to EF and pension as a version of mortgage neutral rather than direct off the mortgage. 
    That does help a little, thank you.


    Nearly forgot my OP today but remembered in the nick of time.  Today's OP = £2.
    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
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