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GAP and LMG, can we become mortgage free?
Comments
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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.beanielou said:Italian afternoon tea sounds a delight
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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I just like everything
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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 -
This is my problem too .beanielou said:I just like everything
Well done on the OP GAP. Afternoon tea sounds lovely. Lovely to have a dipping pot.
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 -
Lucky to have a dipping pot.savingholmes said:
This is my problem too .beanielou said:I just like everything
Well done on the OP GAP. Afternoon tea sounds lovely. Lovely to have a dipping pot.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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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 = £24Mortgage 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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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 = £161,690.76
300 271 payments to go.House buyout fund £21,000/£40,000
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OPs are coming along well already given how little time you've had your mortgage.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 -
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.savingholmes said:OPs are coming along well already given how little time you've had your mortgage.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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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 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 10/10/252 -
That does help a little, thank you.savingholmes said: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.
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 = £161,690.76
300 271 payments to go.House buyout fund £21,000/£40,000
2
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