MF Wannabe - Sights firmly set on 2030 - Mortgage Free!

MFWannabe
MFWannabe Posts: 2,451 Forumite
Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
edited 27 December 2024 at 11:50AM in Mortgage-free wannabe
Morning everyone 
Have been reading everyone’s diaries here and have decided to start my own to live up to my name! 😃
I officially have 11 years left on our mortgage but aiming to have it paid off by 2030 
Current mortgage debt is £69,278.38 and our lovely low interest rate ends in Dec 2025 😰
Who knows what it will be then 🙄
We currently overpay by a £100/ month and aiming to save to make an overpayment when the low rate ends 
This morning I paid off our other debts from savings to start 2025 afresh and to concentrate on savings and mortgage (While still enjoying life but debt free!) 
MFW 2025 #50: £711.20/£6000

07/03/25: Mortgage: £67,000.00
18/01/25: Mortgage: £68,500.14
27/12/24: Mortgage: £69,278.38 

27/12/24: Debt: £0 🥳😁
27/12/24: Savings: £12,000

07/03/25: Savings: £16,500

Comments

  • beanielou
    beanielou Posts: 94,960 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!
    Happy shiny new diary. 
    How much will you have to OP each month to reach your goal?  
    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.
  • MFWannabe
    MFWannabe Posts: 2,451 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Approx £400 a month but that will of course be dependent on how much I overpay when the current fix ends in Dec 25 and how much the interest rate will be then 
    MFW 2025 #50: £711.20/£6000

    07/03/25: Mortgage: £67,000.00
    18/01/25: Mortgage: £68,500.14
    27/12/24: Mortgage: £69,278.38 

    27/12/24: Debt: £0 🥳😁
    27/12/24: Savings: £12,000

    07/03/25: Savings: £16,500

  • That’s a really exciting goal @MFWannabe, I look forward to to hearing more about your journey. All the best 
     Debt = £8017/£8017 (100% paid - cleared 26th August 2020) Boiler Fund = £2500/£2500 (100% saved - 26th August 2021)Emergency fund = £5000/£5000 (100% saved - 5th Jan 2025) | Mortgage  = £113,431/£132,469 (14% paid)

    Goal for 2025:
    1) MFW £2548/£3000



  • Exciting times ahead for you! x
    Debt Remaining: £8,781.53
    3 Month EF: £1,000/£4,494
    2025 MFW Challenge #9: £999.00/£4,000
  • MFWannabe
    MFWannabe Posts: 2,451 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    No New Year’s resolutions from me as I gave up making those a long time ago! 

    Some intentions from me going into the New Year:

    Make more time for myself 
    Look after myself better, eating, exercise, overall health wise 
    Build savings back up so I feel more comfortable with the amount and hopefully to pay a chunk off when we reach end of fix late this year 

    MFW 2025 #50: £711.20/£6000

    07/03/25: Mortgage: £67,000.00
    18/01/25: Mortgage: £68,500.14
    27/12/24: Mortgage: £69,278.38 

    27/12/24: Debt: £0 🥳😁
    27/12/24: Savings: £12,000

    07/03/25: Savings: £16,500

  • seventh88
    seventh88 Posts: 109 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    They sound like really sensible intentions to aim for. All the best with them :) happy new year to you 
     Debt = £8017/£8017 (100% paid - cleared 26th August 2020) Boiler Fund = £2500/£2500 (100% saved - 26th August 2021)Emergency fund = £5000/£5000 (100% saved - 5th Jan 2025) | Mortgage  = £113,431/£132,469 (14% paid)

    Goal for 2025:
    1) MFW £2548/£3000



  • Squirrelz92
    Squirrelz92 Posts: 770 Forumite
    Sixth Anniversary 500 Posts Debt-free and Proud! Photogenic
    Happy new year to you. Great goals for 2025. x
    Debt Remaining: £8,781.53
    3 Month EF: £1,000/£4,494
    2025 MFW Challenge #9: £999.00/£4,000
  • CrazyBee787
    CrazyBee787 Posts: 683 Forumite
    500 Posts Name Dropper Photogenic
    Good luck MFWannabe...we'll be cheering you on at the sidelines. All the best CrazyBee XX
    Pay off Credit Card Balance right now £289.75 by the end of the month (End of June 2025).
  • V3cash
    V3cash Posts: 234 Forumite
    Eighth Anniversary 100 Posts Name Dropper Photogenic
    edited 17 January at 8:06AM
    happy new year from  a new mortgage free wannabe.
    great 2025 goals!
    good luck

    Mortgage total 57980 June 26

    Barclaycard £58000% ends April 26
    New MFW Target £13,500/ £12,654.82
    Mortgage  free Aim July 2027
    house improvement/emergency budget/holiday fund£2500/£3000

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