The Mortgage Free in Three - Take 4 challenge (MFiT-T4)

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  • SuperSecretSquirrel
    SuperSecretSquirrel Posts: 1,045 Forumite
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    First update already... Doesn't time fly?

    Mortgage: -£31,246.39
    Tax: -£616.53
    Cash: £43,069.43
    S&S: £8,250.58
    MN+: £19,457.09

    We need to increase that MN+ number by an average of nearly £3,800 per quarterly update if we are to hit our target of mortgage neutral +60k by the end of the challenge. We're off to a good start having increased it by £4,724.01 this first quarter :) I doubt it will always be such smooth sailing though!
  • ourcornercottage
    ourcornercottage Posts: 1,526 Forumite
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    no 12 updated with a £4300 reduction in the first quarter and a balance of £122700 left.

    Target is to reduce by £3333.33 per quarter so a very good start :)
  • Rachiedabbler70
    Rachiedabbler70 Posts: 303 Forumite
    First Anniversary First Post Debt-free and Proud!
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    Hi number 49 here. Managed to meet my target. I am including some of my savings in the reduction as it is earmarked for mortgage overpayment in a year's time when the savings interest rate drops from 6% on my regular saver account. I only pay about £4 interest per day as mortgage rate is 2.34%. Looking forward to seeing everyones results. Good luck :)
    Blitz that mortgage
    Jun 2016 £152,000
    April 2021 £85,000
  • princess295
    princess295 Posts: 55 Forumite
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    Number 33, sadly no overpayments made due to trying to pay off credit card so just been paying my standard monthly mortgage payment. Balance now 68,017.79.
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
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    #8 reporting in with update number 1 (come around so quickly).

    Balance submitted via update form at £121,584.14. Pretty sure that had me on track, so eagerly awaiting the chart to see my colour, which i will reflect as the came colour of my figure in signature!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • Karona
    Karona Posts: 20 Forumite
    Combo Breaker First Anniversary Car Insurance Carver! Home Insurance Hacker!
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    no 35 updating £34,635, behind schedule but not worried have a car loan to pay off first due to end 4 years time WILL be gone by Xmas then every penny will be thrown at the mortgage :-)
    some amazing totals from others well done its very inspiring
    LBM 2015 24500 debt paid off since.
    M-FIT T5 no 41 starting 25139 aim to clear now 17k
    PAID OFF CAR 8k, OD 3k, CC(1)3k ,CC (2)4.5, Cc (3) 3k STORECARD(1) 3k
    WEIGHT 7/42
  • dark^knight
    dark^knight Posts: 526 Forumite
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    Have just made the first update...manage to OP about 5k, so the balance is down to 95k.

    Feels good :)
  • mrsp1987
    mrsp1987 Posts: 815 Forumite
    First Anniversary First Post Wedding Day Wonder Cashback Cashier
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    Aaargh, had a cold and not been well recently. Totally forgot about this and I imagine I'm too late!!!
    Aim is to reduce my mortgage from £99,320 to £80K. Currently at £98,283.13 + have £249 in savings towards it so am at £1276.63
  • trix-a-belle
    trix-a-belle Posts: 1,481 Forumite
    First Anniversary Name Dropper First Post Mortgage-free Glee!
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    No you haven't MrsP so i've just added you in, I have been having a few issues on the formula front & the real work front but here we are Chart 1

    If you spot any errors please flag up here & if possible submit a form.

    Well done everyone, thank you so much for all the update forms, the progress is looking great but this is a marathon not a sprint :)
    - Mortgage: 1st one down, 2nd also busted
    - Student Loan gone
    Swagbucks, Mingle, GiffGaff, Prolific, Qmee & Quidco; thank you MSE every little bit helps
  • Floxxie
    Floxxie Posts: 2,852 Forumite
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    Thank you so much. I thought I would be way off target but feeling motivated now :j:j
    Mortgage start September 2015 £90000 MFiT #06
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