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Mortgage Freedom Sanity Check - one week to go!

hjghg5 · 2022-10-13 13:40:54

Hello! It's been a while since I was last here, to the point that my old thread (https://forums.moneysavingexpert.com/discussion/5898509/5-years-to-freedom#latest) has been closed. But I have an update... As per the previous thread, I last remortgaged in October 2018. At the time I took out £100k over 10 years, fixed at…

Comments

savingholmes Posts: 29,200 Forumite

21 September 2023 at 9:55PM

Exciting times

Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £167.4K Equity 38% 3/4/26
2) £2.1K Net savings after CCs 14/5/26 (but owed £1.3K) so £3.4K
3) Mortgage neutral by 06/30 (AVC £41.6K + Lump Sums DB £4.6K + (25% of SIPP 1.4K) = 47.6K of £127.5K target 37.33% 16/5/26 (If took bigger lump sum = 69.5K or 54.5%)
4) FI Age 60 income target min £17.1/30K 57% (may need more) If bigger lump sum £15.8/30K 52.67%
5) SIPP £5.6K updated 16/5/26
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