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    • museumworker
    • By museumworker 15th Jul 17, 10:22 PM
    • 2,095Posts
    • 12,452Thanks
    museumworker
    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 27
    • greent
    • By greent 11th Sep 18, 12:14 PM
    • 7,340 Posts
    • 74,430 Thanks
    greent
    Amsterdam sounds like a fab break - except for the part DD was ill xx
    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) 6100/7500
    Net sales 2018 655.15/1000 PAYDOX18 (#15) Done 18918.90
    • Courgette
    • By Courgette 11th Sep 18, 3:06 PM
    • 1,754 Posts
    • 18,554 Thanks
    Courgette
    Oh MW! You're my role model! All that family fun, career on track and your mortgage is getting tiny!

    When you get chance can you remind me about the house swapping. I'd completely discounted it (strangers in my home??? No way!!!) but actually leaving the house empty for 2 weeks didn't feel great either so I'm much more open to it, DH is too

    Glad to hear you've got some extra money coming in for DS2. That's a relief for you xx
    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%
    • XSpender
    • By XSpender 14th Sep 18, 9:56 PM
    • 3,050 Posts
    • 31,269 Thanks
    XSpender
    Hello I've been reading your diary from the beginning this week and picked up some good tips. Lemon drizzle banana cake is now on my list of new things to do with dodgy bananas
    Will update when remortgage gone through....

    Big black hole of debt - 53,515.15 @ 16.12.17
    • jodles16
    • By jodles16 15th Sep 18, 3:21 PM
    • 1,353 Posts
    • 4,040 Thanks
    jodles16
    Have just caught up with your diary, holidays all sound amazing, pleased that your DS is getting some support via DLA. It makes sense if it allows you to more comfortably work three days a week!


    Very impressed by all your finacial planning, amazing!


    Jodles
    MFW2017 #29 1200.24/4524
    MFiT #66
    Overall aim 10,124.20/21,743 (156,000)
    2016- Jan-177,472, Apr-173,195.04, July- 171,417.47 Oct- 169,366
    2017- Jan- 167,347.80 Apr- July- Oct-

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