GAP and LMG, can we become mortgage free?

1235733

Comments

  • savingholmes
    savingholmes Posts: 27,282 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Are you also on a repayment mortgage now? Assuming you are that will chip away at what's owed overall - I know it doesn't help the buy-out bit...

    Well done on today's OP.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26%
    2) Spend on handyman & external building works £11.1K
    3) CC £2.5K on 0% spends card but offset by £34K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £9.6K/£127.5K AVC target 7.5% value @15/4
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • girlatplay
    girlatplay Posts: 3,883 Forumite
    Photogenic Name Dropper First Anniversary First Post
    Yes, repayment mortgage so it will come down.  All the more reason to save up!
    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 planted 7 seeds in each pot and have got lucky 13 through 
    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: 90,118 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
    So pleased for you  :)
    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: 27,282 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Your gardening is coming along fine.

    I let my radish go to flower by accident and ended up with really tall white flowers - you could try that with some of them - if you don't need them all to eat!
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26%
    2) Spend on handyman & external building works £11.1K
    3) CC £2.5K on 0% spends card but offset by £34K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £9.6K/£127.5K AVC target 7.5% value @15/4
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • girlatplay
    girlatplay Posts: 3,883 Forumite
    Photogenic Name Dropper First Anniversary First Post
    beanielou said:
    So pleased for you  :)
    Thank you 🙂

    Your gardening is coming along fine.

    I let my radish go to flower by accident and ended up with really tall white flowers - you could try that with some of them - if you don't need them all to eat!
    Thank you.
    That's an idea.  I'm not sure how many radishes you get from a seed.  Is it one per seed?  If so, I'll eat all 13, I love radishes.  I might plant some out the front and purposely let them flower.


    In exciting OP news, I mentioned in my last (DFW) diary that I found a balance on an old council tax account from a property I lived in, in 2000.  They paid that into my account this morning so I'll have £34 to OP later.  Also, I've been awaiting a refund from my old energy supplier and they have said I should receive it by the end of today.  It is around the £220 mark so I'm going to transfer £200 into the joint account to get us a bit ahead for October and I'll OP the rest.  It's payday tomorrow so I'll round down the accounts ready.  It will be a bumper (for me) OP today.

    I'm still waiting for £7 odds from VM and a survey payout but no sign of them yet.  
    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: 27,282 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Great news on the refunds - and lovely OP to come
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26%
    2) Spend on handyman & external building works £11.1K
    3) CC £2.5K on 0% spends card but offset by £34K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £9.6K/£127.5K AVC target 7.5% value @15/4
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • girlatplay
    girlatplay Posts: 3,883 Forumite
    Photogenic Name Dropper First Anniversary First Post
    Great news on the refunds - and lovely OP to come
    Yes.  That's another two off my list.


    Today's OP = £69

    😁
    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
  • So happy about your gardening! I now hear the rain and think ‘oh good, the garden will be getting a good soak’ - it’s still such a novelty 😄
    Debt at LBM (Dec 2018): £23,167
    Debt free Feb 2021
Meet your Ambassadors

Categories

  • All Categories
  • 343K Banking & Borrowing
  • 250K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.1K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards