GAP and LMG, can we become mortgage free?

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  • girlatplay
    girlatplay Posts: 3,883 Forumite
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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 😄
    I found myself thinking "Oh good, saves me doing it tonight."  Not that I don't like doing it, just that it was one less job to do.


    Payday today so I'll need to do the money shuffle later but I've transferred over my share to the joint account with LMG.  Our first mortgage payment is not due until 1st September and the other bills are not set up yet so there is plenty in there for now.

    Update with today's OP will follow later.
    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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    Playing it safe with the OP today.  We are going to visit my Mum's family at the weekend and it might not be cheap.  I don't want to leave myself short for the month.

    Today's OP = £10
    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: 27,355 Forumite
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    Your OPs are gathering pace. Great result.
    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 & new patio door £12.3K
    3) CC £4.9K on 0% spends card but offset by £34.1K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £9.6K/£127.5K AVC target 7.5% value at 15/4
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • girlatplay
    girlatplay Posts: 3,883 Forumite
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    edited 2 August 2022 at 5:23PM
    Thanks SH.  I'm really trying.  It's amazing where I manage to find OPs from when I try.


    We had a lovely weekend with my Mum's family.  I spent a lot more than I had hoped to and the dipping pot has taken a bit of a hit but I'll be frugal now for the rest of the month.

    I managed a couple of small OPs but they work out at £1.50 per day since I last posted so I'm ok with that.

    I had an email from the sofa shop.  Our sofa should be with them (from the manufacturer) by 10th August.  That is much quicker than we were expecting, by about a month.  We still need to move some furniture and boxes, and paint a wall.  I think we have decided on the wall colour - Egyptian Cotton, it might sound a bit boring but it will go with the suite.  We still need to pick curtains and lampshades.

    We now have broadband so I am going to set up my workstation on the dining table for now.  My work are going to pay for a new desk and chair but I don't have them yet.  I need to do that now before it gets too late as I don't want to try to set it up tomorrow morning before work.

    OP total from the weekend to today = £6
    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: 90,255 Ambassador
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    Woohoo on the 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.
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    One debt remaining. Home improvement loan.
  • joedenise
    joedenise Posts: 16,560 Forumite
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    £1.50 day is good.  When I was doing small overpayments I often sent less than 20p!  My mortgage statements were really long, LOL!

  • savingholmes
    savingholmes Posts: 27,355 Forumite
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    Great news on the sofa.

    Well done on the PADs
    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 & new patio door £12.3K
    3) CC £4.9K on 0% spends card but offset by £34.1K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £9.6K/£127.5K AVC target 7.5% value at 15/4
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • girlatplay
    girlatplay Posts: 3,883 Forumite
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    Thank you Beanie, @joedenise and SH.  We are not sure what date the suite will be delivered to us but we were originally told that it would be with them by 6th September.  We need to get our skates on with decorating.

    joedenise said:
    £1.50 day is good.  When I was doing small overpayments I often sent less than 20p!  My mortgage statements were really long, LOL!

    I did that when I was paying off the loans.  Every penny counts and it all adds up!  I now have a Tilly Tidy account and anything under £1 goes in there.  I started it last year in a FB group and I have around £70 in it.  Just for the odd 10p here and 75p there.
    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: 16,560 Forumite
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    What plans do you have for the Tilly Tidy account and how much are you planning on going to before spending it?

  • girlatplay
    girlatplay Posts: 3,883 Forumite
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    joedenise said:
    What plans do you have for the Tilly Tidy account and how much are you planning on going to before spending it?

    I don't really have proper plans for it.  It was put in place for if I needed money to set up a side hustle.  I'm not very imaginative or very good at anything so I thought I would just put anything under £1 into it, whenever it became available.  Crazy how it has added up.  I'll just keep doing that until a use for it makes itself known.
    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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