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    • museumworker
    • By museumworker 15th Jul 17, 10:22 PM
    • 2,057Posts
    • 11,883Thanks
    The mindful MFW: A healthy, happy journey to a mortgage free life!
    • #1
    • 15th Jul 17, 10:22 PM
    The mindful MFW: A healthy, happy journey to a mortgage free life! 15th Jul 17 at 10:22 PM
    Hi all! Some of you may know me from my last two diaries (museumworkers quest to consign the mortgage to history and Making the Future Happen). A lot DID happen during my last diary, mostly things that threw me off the MFW course, including an unexpected (but much loved) third child and a new full time job! These are both changes for the better, but adjusting to even less time with even more responsibilities unfortunately took its toll on my health and wellbeing as well as our finances.

    Anyway, I now feel like I've turned a corner - my health is improving, I'm settled at work, we have local childcare arranged (no more commuting with a toddler and buggy come September!) and we are starting to tackle the mortgage again. Rather selfishly I would like a new diary to mark this new phase as I feel a bit like my old one is, well, if not stained then a bit dog-eared. And who doesn't like the feel of a crisp new diary, all shiny, new and full of hope!

    This time my journey to mortgage freedom has to be healthy and happy. I can't let myself get ill again, the whole family suffers. The mindfulness part is more aspiration than reality at the moment! However I've gained so much benefit from the mindfulness work that I have done that I really want to make it an integral part of my life. And I really want to enjoy my time with the kids, aged (nearly) 3, 5 and 14, and nurture my relationship with the very neglected OH. We love to travel and have days out, though usually there's a discount voucher and a packed lunch to hand if you look closely enough! Of course there will be challenges along the way, but if I can build personal resilience and keep a positive outlook I'll be much better placed to deal with them.

    I would love it if you read and posted along - words of encouragement, suggestions, comments, questions, observations, witticisms, light ribbing - and the occasional reprimand if I start being self-negligent!

    Some facts that always help at the start of a diary:
    Mortgage balance at start of MF journey, March 2011: £190,000
    Current balance July 2017: £95,979.89
    Mortgage rate: 2.39% fixed at Feb 2016 for 5 years.

    OPs in 2017 to date: £9,249.16
    Total OPs 2011-16: £45k

    LTV when house purchased 2008: 83%
    Estimated Current LTV: 15%
    Old mortgage rate: 5.09%
    Old mortgage monthly payment: £1,200
    Current mortgage monthly payment: £623.15

    Original end date at renewal: February 2036
    Current end date with no further OPs: October 2033 [guestimate, will check next time I call]
    Target: April 2022 = £1,200 pm OP / £14,400 pa OP
    Stretch target: September 2021 = £1,400 pm OP / £16,800 pa OP
    Super stretch target: April 2021 = £1,600 pm OP / £19,200 pa OP

    Just realised that means am possibly talking only 4 years or so until we're mortgage free ! Wow, that feels so unreal - but incredibly motivating!!

    Lots more to say, but right now we're off to bed. Thanks for reading!
    Last edited by museumworker; 19-07-2017 at 1:07 PM.
    Mortgage 16/03/2011: £190K 01/01/2017: £107,729.65 01/07/2017: £95,979.89
    OPs 2011-2016 = £45K 2017 OPs = £9250.20
Page 24
    • newgirly
    • By newgirly 11th Apr 18, 2:21 PM
    • 6,217 Posts
    • 42,913 Thanks
    Good luck for mot day, it's always nerve wracking!
    MFW 21
    Target for 2018 £40k/£9,626 paid so far

    Mortgage £39,159.44 -4yrs 2 mths left. Total owed £52,364 plan to clear in 14 months
    • museumworker
    • By museumworker 12th Apr 18, 9:49 AM
    • 2,057 Posts
    • 11,883 Thanks
    Thanks all, the car is being looked at today so I have everything crossed. We can make a very good OP if it sails through, our first for a year!

    Today's enough list:
    * pick new blog template
    * send mum birthday card
    * passport photos for DS

    Get ahead:
    * washloads x3
    * put laundry away
    * empty OH bag and put all bags away
    Originally posted by museumworker
    DS currently playing lego so I get a few minutes to myself, we might be meeting a friend later today, just waiting to hear. Otherwise am considering a visit to use our museum membership, which we will do late afternoon to avoid the queues .

    OH has booked DD2 into nursery for tomorrow, its an extra £50 but having both on my own is really stressful. Both can and do go into meltdown frequently, and only one pair of hands is not enough!

    Today's enough list:
    * call mum to wish happy birthday
    * pick new blog template Done, ended up choosing the first one I originally liked, after spending hours since thinking about the benefits of all the others .
    * confirm would like to attend DD1 event tomorrow

    Get ahead:
    * pick up another passport form as mucked one up already!
    * last 3 washloads
    * put laundry away
    * pay for self-hosting Done, my blog should be up in new format and self-hosted in next couple of days .
    Last edited by museumworker; 12-04-2018 at 7:49 PM.
    Mortgage 16/03/2011: £190K 01/01/2017: £107,729.65 01/07/2017: £95,979.89
    OPs 2011-2016 = £45K 2017 OPs = £9250.20
    • museumworker
    • By museumworker 12th Apr 18, 7:21 PM
    • 2,057 Posts
    • 11,883 Thanks
    Good news... car passed MOT!
    Bad news... it needed work to front and back brake pads, so including service, MOT the total was £600 !

    Having checked what we spent on holiday (£590), we now have £2,500 to overpay the mortgage . Will make that call as soon as kids in bed .

    Eta: nope, forgot about the car tax! So will be £2,400 OP, and need to call the blinking house account bank as they wouldn't allow the transfer online
    Last edited by museumworker; 12-04-2018 at 7:50 PM.
    Mortgage 16/03/2011: £190K 01/01/2017: £107,729.65 01/07/2017: £95,979.89
    OPs 2011-2016 = £45K 2017 OPs = £9250.20
    • themadvix
    • By themadvix 13th Apr 18, 11:35 AM
    • 1,541 Posts
    • 9,120 Thanks
    Even with the reductions, that's still a very impressive OP!
    OPs 2017 = £3103
    S&S ISA 2017 = £626
    OPs 2016 = £6142.12
    Starting balance 2012: £132000; balance Dec 2017: £96,822
    MFW2017 no. 38
    • greent
    • By greent 15th Apr 18, 11:35 AM
    • 6,896 Posts
    • 70,609 Thanks
    That's a brilliant OP! x
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £577.06/£4000
    Net sales 2018 £357.79/£1000 PAYDOX18 (#15) £12808.40/£18694.38
    • Courgette
    • By Courgette 16th Apr 18, 1:16 PM
    • 1,706 Posts
    • 18,094 Thanks
    Great work, mw!

    What's the balance on your mortgage now? Can't see it in your sig
    A reminder to myself: Persistence Pays Off
    Mortgage 1: £95,000 £78,900 at 3.1%
    Mortgage 2 (BTL): £83, 489.15 at 2.99% (I.O.)
    Savings (S&S ISA): £3000 Plus 6 months emergency savings earning 3%
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