More Effort Required - the next 5 years

SandyShores

Thank you AgathaSquirrel and savingholmes. I never ever thought we could be in reaching distance of paying off our mortgage by SPA. But it's possible now (I have to pinch myself when I think of this). Our OPs have included taking tax free sums from our pensions and a redundancy payment along the way. We've also kept up the pressure by keeping our monthly payment at its original huge amount. Its easier now its just the two of us too.

SandyShores

I made a decision over the weekend to pay off the remainder of this year's 10% OP allowance from savings. I feel slightly nervous at using up the savings, but it makes financial sense for interest saved. I'm looking forward to watching the effect on actual interest in the future statements.

We have approx. 4 years left of our 3.84% fixed rate, then maybe another 6 months on SVR, until I reach SPA (f we can get close to full MF in that short time). Although it's a huge challenge, it was similar to our DFW journey and that worked out, so fingers crossed. I'm finding a great way to keep motivated is by following other forumites MFW journeys - some great tips and positivity there.

beanielou

You are on fire. 🔥