Progress is...

rtandon27

Starting a Mortgage Free Diary!

rtandon27

A place to hold my thoughts on heading to being mortgage free and what that actually means to OH & me!

...that is once I've formed the thought(s)

ETA - 07 Nov 24
I'm still trying to formulate my thoughts about the mortgage free goal but for now, my dear OH sent me a quote which I love!  "Every step you take, no matter how small, is still a step forward,"

ETA - 01 Jan 25
Have finally found a mortgage overpayment simulator that doesn't involve a fancy spreadsheet and is visual!  My initial end date for the mortgage was Sep 2041.  A bit worrying as it is 2.25 years past my projected retirement date & state pension.  We'd like to shorten that term by 10 years if at all possible which will mean putting a lump sum towards the principle when the current fix ends in Sep 2026 and upping the monthly payment to 1500.  This is apparently possible as OH has a financial settlement which is due over the course of the next year & there will also be no more legal fees to pay so that amount can be put to the mortgage as well.  This would bring the projected end date to Jul 2030 at the earliest and Sep 2031 at the latest.
In the meantime we have pots of money building up to reseal the windows, repoint the brickwork and re-felt the shed & summer house roofs.  Ideally a bathroom reno sooner rather than later and a kitchen redo are both our wishlists, but not yet budgeted for!  OH who does not actually do the budgeting has solar panels and finishing the attic space on his wishlist, but tbh I don't see these being a reality anytime soon!

rtandon27

Welcome one and all to my virtual kitchen!

Especially those who are saying "About d@mn time RT - you've been on these here boards for how long?"

redofromstart

Hurrah, dropping in to say happy new diary.

Greying_Pilgrim

Pulls up a chair in RT's kitchen..... Happy New Diary, dear heart!

Greying X

teapot2

Happy shiny new diary 😙⌨📝✏

beanielou

Happy shiny new diary.  Welcome to MF!

rtandon27

@redofromstart & @Greying_Pilgrim & @teapot2 & @beanielou - welcome to the table & thank-you for visiting!

Another virtual pot of tea and a plateful of biscuits is being passed round this morning while I admit that I'm still having thoughts, but nothing yet to commit to any sort of grand statement!  Please do hang around when you have a minute though, as it's always good to have company.

So my thought for the day is...
Progress is...
...finding ourselves mortgage neutral after I was paid yesterday! This will of course change as soon as the bills are paid today and over the next few days, but it did feel good even if fleetingly!  I know that this won't become an permanent reality anytime soon, as the pots of money that give the illusion of cash on hand are actually all ear-marked with their various jobs (so effectively spent) but it does help me visualize the freedom of no mortgage! 
...I also had the thought that I could even quit outright today and pay off the house (and that would feel sooooo good) - now mind you there would be nothing left to live off of but we would have a roof over our heads if nothing else 🤣🤣🤣

themadvix

*pulls up chairs, nabs and biscuit and pours a cuppa* Thanks RT! Nice to see you've made yourself a proper home here 😊

Cheery_Daff

rtandon27 said:

Welcome one and all to my virtual kitchen!

Especially those who are saying "About d@mn time RT - you've been on these here boards for how long?"

🤭🤭 tee hee, that's exactly what I was just thinking! 😂😂

*nabs virtual cuppa and Biscuit* 

(Nice to see that I have referred to Biscuit,  a famous forumite chicken, so often that my phone has started capitalising the word 😂😂)

Exciting to be immediately mortgage neutral even if you would then be foraging for grubs in the garden if you did pay it off 😂

ladybird1106

Bringing an own gluten free biccie and a g&t. Well somewhere in the world it’s gin o clock. Good luck on your journey 
love 🐞