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GAP and LMG, can we become mortgage free?
Comments
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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 in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
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 £4.8K updated 13/9/251 -
Yes, repayment mortgage so it will come down. All the more reason to save 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
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I promised that if we got a garden I would look after it. I got home from work just after 5pm today and did two hours of gardening. Cut the grass, dug out most of the weeds, put down feed/seed/weed stuff and watered it in. It's my first time doing it so I might have made a complete pigs ear of it but at least I'm trying. I planted two little fuchsia plants in one of the hanging baskets on Friday and some of the little buds have now opened. They're so pretty and I'm so chuffed. Also, I planted radish seeds in pots and they have green bits coming through already. I know it's not rocket science but I haven't done this before and I've wanted it for so long, I'm so happy it's working so far. I'll be interested to see how the grass looks in a week or so.
Today's OP = £2Mortgage 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 planted 7 seeds in each pot and have got lucky 13 throughMortgage 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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So pleased for you
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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 -
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 in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
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 £4.8K updated 13/9/251 -
Thank you 🙂beanielou said:So pleased for yousavingholmes said: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 = £161,690.76
300 271 payments to go.House buyout fund £21,000/£40,000
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Great news on the refunds - and lovely OP to comeAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
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 £4.8K updated 13/9/251 -
Yes. That's another two off my list.savingholmes said:Great news on the refunds - and lovely OP to come
Today's OP = £69
😁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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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 20212
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