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Mortgage free mayhem
Comments
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Well done, you're smashing those goals!
2 -
Congratulations. You are doing so well.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! Really nice to have this forum for inspiration.Mortgage in July 2023: £84206
Mortgage in September 2025: £677282 -
Stick with it over the long term and you will see the difference.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 -
Good morning everyone, really happy to say the mortgage is down to £79,720.
The Pilates instructor course is finished and all the assessments passed, just one piece of coursework left that I'll finish this weekend.
This month I won't be able to overpay the mortgage by much because some car repairs have wiped out my emergency fund completely. Yikes.
I also upped my pension contribution at work by adding salary sacrifice, so I've got less take-home pay to play with.
But still trying to keep the mortgage a priority. So, for October:
1. Finish Pilates coursework and get that qualification.
2. See if I have some stuff I could sell on ebay (not sure).
2. Add £300 to emergency fund.
3. Put at least £100 extra into that mortgage!Mortgage in July 2023: £84206
Mortgage in September 2025: £677282 -
Vinted are also good for selling.I do chair pilates!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.2 -
Oh cool, thanks for the tip on vinted. I did a big clear out this summer so I really don't know if I've got anything left at all! But I'll have a scour.Mortgage in July 2023: £84206
Mortgage in September 2025: £677282 -
A bit gutted at the stupid car repair, really set me back, but trying to console myself that at least I could cover it.Mortgage in July 2023: £84206
Mortgage in September 2025: £677281 -
It's natural to be upset when your savings got wiped out - but at least it wasn't extra debt. You are ahead of most people.mathilde said:A bit gutted at the stupid car repair, really set me back, but trying to console myself that at least I could cover it.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 13/9/252 -
Hi everyone, it's been quite a month.
Mortgage now at 78585. That's nearly 6k off since July.
In addition to the car repair from last month, I had my MOT and service which was another £300. Yikes.
But I sold an old laptop and a some old clothes plus did some contract work. So it's all paid plus I managed to put an extra £110 as a mortgage overpayment.
But then yesterday I put £275 on my credit card to pay for trip to see family. My dad is unwell.
Also finished the Pilates qualification.
I had to have a serious talk with myself. I've put so much into the mortgage but the fact is that I don't have enough in my emergency savings.
Goals for this month:
1. Pay off credit card!
2. Skip the mortgage overpayment so that I can put at least £300 into the emergency fund.
Mortgage in July 2023: £84206
Mortgage in September 2025: £677281
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