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  • FIRST POST
    • ajmoney
    • By ajmoney 5th Aug 16, 10:50 AM
    • 5,197Posts
    • 57,128Thanks
    ajmoney
    Project Mortgage Neutral Begins
    • #1
    • 5th Aug 16, 10:50 AM
    Project Mortgage Neutral Begins 5th Aug 16 at 10:50 AM
    Hi. We have just remortgaged on our larger product and while mortgage freedom is still the ultimate goal I am working on the smaller challenge of mortgage neutral first.

    We have a smaller mortgage that we transferred when we moved 5 years ago and a larger mortgage that topped it up.

    Mortgage 1

    Total 32097.21
    Interest 2.68%
    Redemption Date Februray 2030
    This is a tracker mortgage, we are not tied into anything but the deal is so good that unless things change substantially I don't intend to change this.

    Mortgage 2

    Total 103615.51
    Interest 1.74%
    Redemption Date February 2030
    This a tracker mortgage too with the current deal ending in August 2018.

    First and foremost I want to get rid of the larger mortgage even though it has the lower interest rate as it is the biggest debt and is the one product we have that could be a struggle if we ever got stupid interest rates.

    We are due to hit mortgage neutral in July 2021. This is worked out with all our mortgage rates staying the same and not receiving any interest on our savings. I am hoping the fluctuations in these will even each other out.

    While Mr AJM is happy to reach mortgage neutral, mortgage free and therefore retire early this a solo journey with it all being my effort. We haven't changed our lifestyle at all so there are always other things we can do but this is not so important to us at the moment.

    I will add more as the next few days go by. Recently I have been guilty of ignoring my thread but I am hoping starting a new thread will get me on here a little bit more.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
Page 23
    • ajmoney
    • By ajmoney 4th Apr 19, 5:26 AM
    • 5,197 Posts
    • 57,128 Thanks
    ajmoney
    22 days until move in day we are confirming our removals today so hopefully we have got most things sorted. Starting to pack the boxes next week, I would like to ditch what I don't want beforehand but time may dictate that I sort through all this once I am in the new house.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • CathT
    • By CathT 4th Apr 19, 6:10 PM
    • 6,250 Posts
    • 43,392 Thanks
    CathT
    Wow things are moving fast. I forget house selling seems to be more straightforward where you are.

    Sounds like you have a firm plan in place for your mortgage freedom, very inspiring to read.

    Btw, that swim sounds pretty fast!
    Nov 2019 - part 1 - 66,153 part 2 - 42,004
    Total - 108,157 96 months to go!
    • juliejim
    • By juliejim 6th Apr 19, 8:47 PM
    • 7,681 Posts
    • 152,567 Thanks
    juliejim
    Great news on the bungalow - 20 days to move - better get packing!

    Jue
    NST #10 Steps 7K 2/30 10K 2/12 5 a day 3/30 NSD 0/20
    MBNA 5500
    • ajmoney
    • By ajmoney 7th Apr 19, 6:18 PM
    • 5,197 Posts
    • 57,128 Thanks
    ajmoney
    We don't have any boxes yet but once the cleaner has been for the final time on Tuesday we will be ready to start. Seeing as our penultimate landfill bin day is tomorrow the plan is to go through the food cupboards, chuck what is well and truly beyond its date and get a rough plan for the rest.
    Mr AJM has the next two weeks off so is planning to go through all his stuff so he isn't taking things he doesn't want. I have just about done this, just my stuff in the garage to be ruthless with. So long as the weather is fine Friday is garage day.
    Definitely starting to feel very sentimental about the whole thing, because we are getting on so well I need to keep reminding myself why I am doing this.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 12th Apr 19, 6:09 PM
    • 5,197 Posts
    • 57,128 Thanks
    ajmoney
    The worst part of the house has pretty much been sorted and packed up...the garage. The plan over the next 2 days in to sort out everything paperwork related and any boxes that have been brought in from the garage. We have done well in 1 day, we have 2 more full days, plus a couple of half days and some evenings where we are both off and a week off from work each so we should be done in plenty of time. I would like everything that we don't need packed up by the end of the easter weekend so I don't need to do too much by myself and can get a hand with the trips to the tip.


    Bills etc I have to sort out my home and life insurance and let the window cleaners know not to come again. Then it is just a case of changing my address everywhere, I have already set up the redirecting of mail so that should cover everything.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 14th Apr 19, 6:03 AM
    • 5,197 Posts
    • 57,128 Thanks
    ajmoney
    I have my first ever triathlon today, on a night where I could have done with the sleep it hasn't been that restful. Running and swimming events are easy as you just turn up but this has specific times for everything to be done and it is getting me all panicky. Whatever happens, so long as I don't get disqualified later today I will be able to call myself a triathlete

    And then it will be back to packing boxes. We packed up the living room yesterday and today is the random pile of stuff in the small bedroom and sorting through the filing cabinet.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • CathT
    • By CathT 14th Apr 19, 4:59 PM
    • 6,250 Posts
    • 43,392 Thanks
    CathT
    Hope the triathlon went well. What an achievement!
    Nov 2019 - part 1 - 66,153 part 2 - 42,004
    Total - 108,157 96 months to go!
    • ajmoney
    • By ajmoney 14th Apr 19, 8:38 PM
    • 5,197 Posts
    • 57,128 Thanks
    ajmoney
    Hope the triathlon went well. What an achievement!
    Originally posted by CathT
    It was fine thanks. I was quite nervous but I usually am when I feel underprepared for something. I didn't hate it which I guess is a good start. I may do another but I would need to dedicate some time to getting comfortable on the bike first. I am shattered now though, sitting in bed to support my legs while trying not to fall asleep yet. I know my body probably needs it but I don't fancy waking up earlier than I normally do. Needless to say, I didn't do any packing today, I will play catch up through the week.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 17th Apr 19, 10:15 PM
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    • 57,128 Thanks
    ajmoney
    One day left at work and then I have 2 weeks off and I can focus on the house move. I haven't had a chance to do anything more since the weekend but don't think it should take too long once I get started.
    I am going for another look around the bungalow on Friday, measure up a couple of spaces and have a look in the kitchen cupboard and built in wardrobes to get an idea of how I might store things to help me pack sensibly. Hopefully I can also use the time to ask the agents if I can get access once more before move in day to clean and air the house.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 21st Apr 19, 6:54 AM
    • 5,197 Posts
    • 57,128 Thanks
    ajmoney
    Why oh why oh why didn't we start sorting through the cupboards months ago ditching what we wouldn't be taking with us. The house is an absolute bomb site, we still have a fair amount to do and ideally need to get it all packed today as Mr AJM goes back to work tomorrow. I am sure we will manage it, it is just so time consuming, I guess the bonus is we should just be able to unpack once we get to our houses as we have already got rid of the excess stuff.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 21st Apr 19, 8:20 PM
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    • 57,128 Thanks
    ajmoney
    We are quite a way from finishing but I have had enough for today. I am going to concentrate on my own stuff tomorrow, a tip run, a "ditch stuff in the recycling bins at work" run and try and get some boxes from the supermarket to put our wine/alcohol in. Hopefully that should mean we can get things a lot closer to being finished on Tuesday evening.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 24th Apr 19, 9:43 AM
    • 5,197 Posts
    • 57,128 Thanks
    ajmoney
    The time is ticking away. Whatever happens, in 2 days time the removal vans will probably be loaded and away and we will be cleaning the house. I am adopting a 30 min sort out and 10 minute sit as I am feeling quite overwhelmed with the stuff sitting around the house.
    I am going to make a list any try to stick to it for sorting things in the new house, that way I can do what needs to be done and not what I want to do as I have a habit of doing that!


    Old passport, what should I do with it? It is going in the filing cabinet to be sorted once we have moved as we have run out of time to do it but just wondering...
    Last edited by ajmoney; 24-04-2019 at 12:02 PM.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 25th Apr 19, 6:47 AM
    • 5,197 Posts
    • 57,128 Thanks
    ajmoney
    The money for my new mortgage is now showing in my online banking so it looks like my total mortgage is over 200k
    2019 MFW No. 70 4211.74/4000
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    • edinburgher
    • By edinburgher 25th Apr 19, 7:28 AM
    • 11,530 Posts
    • 61,649 Thanks
    edinburgher
    You'll get there AJM - the Pomodoro packing sounds like a great technique
    • ajmoney
    • By ajmoney 25th Apr 19, 7:41 AM
    • 5,197 Posts
    • 57,128 Thanks
    ajmoney
    You'll get there AJM - the Pomodoro packing sounds like a great technique
    Originally posted by edinburgher
    I have learned some thing this morning Pomodoro still get confused whether I should use learned or learnt, not as confused as I get with passed and past, I never had this problem when I was younger
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 25th Apr 19, 8:39 AM
    • 5,197 Posts
    • 57,128 Thanks
    ajmoney
    So...based on my current mortgages I am due to be mortgage free in February 2030 without any OPs. I have just set up my OP spreadsheet for the new mortgages based on a very conservative monthly OP until I know what I can definitely afford and I am currently on target for May 2029 when it should be April 2041. So already down to 10 years instead of 22 and I think there will definitely be scope to bring this down even more.

    Plan of action is to work on OPing the new extra mortgage which is due to be cleared in January 2021 (3 months before I remortgage) and then see how I go.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • juliejim
    • By juliejim 25th Apr 19, 12:08 PM
    • 7,681 Posts
    • 152,567 Thanks
    juliejim
    Are you all set then? Is tomorrow the big day?
    NST #10 Steps 7K 2/30 10K 2/12 5 a day 3/30 NSD 0/20
    MBNA 5500
    • ajmoney
    • By ajmoney 25th Apr 19, 12:16 PM
    • 5,197 Posts
    • 57,128 Thanks
    ajmoney
    Are you all set then? Is tomorrow the big day?
    Originally posted by juliejim
    No and yes. I will be all ready to go by the time I get to bed tonight...whenever that is! Mr AJM should be home by 3.30 and then it is all systems go to pack the final bits. I have done a bit of cleaning where possible this morning in the bathrooms to make life a bit easier tomorrow and am tryign to do a bit in the kitchen too. It is a little frustrating as I kow this won't be done in the house I am moving to so I will have it all to do again over the next few days.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • juliejim
    • By juliejim 25th Apr 19, 12:26 PM
    • 7,681 Posts
    • 152,567 Thanks
    juliejim
    But it will be in your new house and be all exciting lol!
    NST #10 Steps 7K 2/30 10K 2/12 5 a day 3/30 NSD 0/20
    MBNA 5500
    • ajmoney
    • By ajmoney 25th Apr 19, 11:28 PM
    • 5,197 Posts
    • 57,128 Thanks
    ajmoney
    Jeez, just got into bed and alarm is set for 5.30 to get as much done as possible before the removals arrive. Not sure how much sleep I will get tonight but here goes nothing.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
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