We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
More Effort Required - the next 5 years
Comments
-
Nice to see you back posting. You've made huge inroads into your mortgage. Huge congrats.
Exciting on your pension too.
Achieve FIRE/Mortgage Neutrality
1) MFW Nov 21 £202K now £165K Equity 38.88% 6/9/26
2) £1.5K Net savings after CCs 29/8/26 (but owed £130) so £1.6K
3) 47/82K @29/8/26 = 57.31% AVC Goal by mid 20281 -
Really happy to report another £10k OP has been made - we now have a £168k mortgage! Interest update - £18.76 per day on the last statement. That's 78p less than last month and should be even better next month with the new OP :)
Thanks savingholmes :). Yes it's been a real boost.
"Think of many things, do one"
DFW 2019: MFW aim 2031: bal Sep26 £161k / £310k 2020
Seven Goals; and healthy diet/walk/run/exercising/weights/yoga4 -
Well done.
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*** in ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger.
One debt remaining. Home improvement loan. 13 months left.2 -
Monthly mortgage statement has arrived, showing that daily interest for September was £17.64. That's another £1.12 down on the previous month and really satisfying to see 😁. I've also made the monthly £500 OP, and the direct debit has gone out. Balance at end of September will be approx. £166k (adding on the Sept interest) so its coming down around £2k per month currently.
If we keep up these OP's the mortgage could be finished in as little as 6 years, which is 2 years after the fixed rate ends (and the year after my SPA). I wonder what rates will be doing then - it would be great to avoid the whole remortgage process again. I've got another small deferred pension, a small SIPP and some gold jewellery which I'm planning to throw at it when it's possible. It would be fantastic to be able to pay the whole thing off as soon as the fixed rate expires but that will take some serious saving - so we have a challenge ahead.
"Think of many things, do one"
DFW 2019: MFW aim 2031: bal Sep26 £161k / £310k 2020
Seven Goals; and healthy diet/walk/run/exercising/weights/yoga5 -
Be proud. 😊
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*** in ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger.
One debt remaining. Home improvement loan. 13 months left.2 -
Amazing progress. Well done.
2017 - mortgage of £140,000 and interest rate of £10 a day
Feb 2021 £103000
November 2021 £93000
December 2022 £79000
December 2023 £73000
March 2024 £70000
May 2024 £68000
October 2024 £65000
February 2025 £63000
March 2025 £45000, interest of £6.07 per day
November 2025 £41000, interest of £5.62 per day
March 2026 £38000, interest of £5.22 per day
July 2026 mortgage of £34,000 and interest of £4.97 per day2 -
That's amazing progress. Definitely be proud of yourself.
Achieve FIRE/Mortgage Neutrality
1) MFW Nov 21 £202K now £165K Equity 38.88% 6/9/26
2) £1.5K Net savings after CCs 29/8/26 (but owed £130) so £1.6K
3) 47/82K @29/8/26 = 57.31% AVC Goal by mid 20281 -
Thank you beanielou, Agathasquirrel and savingholmes :). I'm usually just stunned that I've made it this far, but yes I will take a moment to be proud too 😁. Just worked out we've seen off £142k of mortgage in the last 6 years (and the house has also gone up in value for another half of that). Takes moment to let that sink in …..
Six years before that I started DFW, so here's to the next 6 (or less) 😁😁😁
"Think of many things, do one"
DFW 2019: MFW aim 2031: bal Sep26 £161k / £310k 2020
Seven Goals; and healthy diet/walk/run/exercising/weights/yoga2 -
That’s phenomenal progress. The mortgage I’m currently ploughing through started at £140000 and 9 years later we’ve cleared £108000 so to clear over my total mortgage in 6 years is mind blowing.
Great news about the price increase too.2017 - mortgage of £140,000 and interest rate of £10 a day
Feb 2021 £103000
November 2021 £93000
December 2022 £79000
December 2023 £73000
March 2024 £70000
May 2024 £68000
October 2024 £65000
February 2025 £63000
March 2025 £45000, interest of £6.07 per day
November 2025 £41000, interest of £5.62 per day
March 2026 £38000, interest of £5.22 per day
July 2026 mortgage of £34,000 and interest of £4.97 per day2 -
Great news on your equity and progress. Utterly phenomenal.
Achieve FIRE/Mortgage Neutrality
1) MFW Nov 21 £202K now £165K Equity 38.88% 6/9/26
2) £1.5K Net savings after CCs 29/8/26 (but owed £130) so £1.6K
3) 47/82K @29/8/26 = 57.31% AVC Goal by mid 20281
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.6K Banking & Borrowing
- 254.8K Reduce Debt & Boost Income
- 456.1K Spending & Discounts
- 248.2K Work, Benefits & Business
- 605.7K Mortgages, Homes & Bills
- 179K Life & Family
- 263.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards