Mortgage free by 2021?!

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Comments

  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
    £9.05 off to the mortgage - £5 from sw@gbucks, £4.05 from sh0pit!ze

    Had a bit of a mental debate on the OPs - assuming I do leave my current job I'll have to pay back my season ticket loan, which means my final paycheque will be quite low compared to regular. I'd been planning to pad out our savings for the next few weeks to make up for the shortfall, but our savings level is pretty much fine as long as it stays the same. It doesn't make sense to pull money out of a 5% interest account to pay down a 2.4% mortgage, so I'll reduce our OPs as necessary whenever my pay drops.

    On the plus side, my take-home pay should go up as I won't be paying off the season ticket loan, so the effect on the mortgage forecast should be minimal. :)

    Also, 1,000th post! That happened quickly.
  • Ali-OK
    Ali-OK Posts: 4,073 Forumite
    First Anniversary Debt-free and Proud!
    Congrats on 1000 posts - I'm guessing the ratio is £20 payment per post to mortgage! :D
    Back on the DFW Wagon:

    CC - £3,300 on 0% til 04/2020
    CC - £4,500 on 0% til 02/2019
    Loan - £12,063.84 as at 4/1/18
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
    Ali-OK wrote: »
    Congrats on 1000 posts - I'm guessing the ratio is £20 payment per post to mortgage! :D

    Haha! Now you made me look. :p

    Total net reduction from September 2015 - March 2016: £24,364.91 :D You weren't far off! (Though that counts the regular payments, not just OPs. And I suppose half of Sept shouldn't count, either. Close enough!)
  • lippy1923
    lippy1923 Posts: 1,374 Forumite
    First Anniversary First Post Combo Breaker
    Yay to post 1000 :)
    Total Mortgage OP £61,000
    Outstanding Mortgage £27,971
    Emergency Fund £62,100
    I AM NOW MORTGAGE NEUTRAL!!!! <<Sep-20>>

  • debtfreeoneday
    debtfreeoneday Posts: 4,814 Forumite
    Mortgage-free Glee! Name Dropper First Anniversary First Post
    hiddenshadow wrote: »
    Hope the neighbours sell quickly, DFOD! An extra £80k (or £120k?) equity would be brilliant. :)

    Shame it takes months for the sales figures to go up...

    ha sod that, I'll be the nosy neighbour and ask her when I see her!!
    DFW (08/08) £64,346.53 Gone (02/19)
    MFW (08/08) £118k Gone (09/23)
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
    debtfreeoneday wrote: »
    ha sod that, I'll be the nosy neighbour and ask her when I see her!!

    Nice. :D I don't think we've ever met the neighbours of ours who are selling, though maybe this could be a conversation starter...
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
    Well, the house down the street is Sold STC! Even if they accepted a lower amount than the asking price, that's a nice turnaround (1-2 weeks, depending on when the sign went up). Now to see what the sale price ends up as...
  • EatingTheElephant
    EatingTheElephant Posts: 1,373 Forumite
    Congrats on the 1000th post, itching to know how much house down the road sold for, thinking about it there is one in our road that has just sold. Must check that out too!
  • Petal88
    Petal88 Posts: 272 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    hiddenshadow wrote: »
    Had a bit of a mental debate on the OPs - assuming I do leave my current job I'll have to pay back my season ticket loan, which means my final paycheque will be quite low compared to regular. .

    Any chance a new employer would pay off the loan for you? Mine will be paying off 4k's worth of study costs for me, but unfortunately I'll have to pay it off first before they reimburse me, so my March/April pay is going to be 0 I imagine....

    Congrats on over 1000 posts! :j
    Mortgage Oct '20: £615k
    Mortgage Feb '24: 590k
    Debt Feb'24: £35,501.54
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
    Petal88 wrote: »
    Any chance a new employer would pay off the loan for you?

    Hm, I hadn't thought of that option. Could be worth asking - to be honest I only got it so that we could keep up the large OP trend rather than pay a chunk towards the travel ticket in one go.
    Congrats on over 1000 posts! :j

    Thanks, though I feel sometimes like I post far too much about boring/mundane things! At least it's mostly in this thread so no one has to pay attention if they don't want to...:o
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