The Mortgage Free in Three - Take 2 challenge (MFiT-T2)

twinklie

I'm so excited about seeing the first "snapshot"! It's silly when I'm charting my own progress myself. I'm just hoping that seeing it next to other peoples goals will keep me motivated and inspired....although I think my goal is now too simple! I should have set a harder one.

gerbiljo

I have just made my 'final' overpayment this month of £20 and have updated my signature. Just bobbing above the £101k mark so hoping to dip below 100k in a couple of weeks!

I've just realised the colour thing... I feel like I'm cheating a bit as I've allowed for us to do some building work which will probably be nearer the end of the challenge so it might appear like I'm doing slightly better than I really am . I shall just use this as encouragement I think, but I guess I might go red near the end

Really excited now as time is flying love checking this thread and looking forward to the first update. Jo

COOLTRIKERCHICK

i know this question has been asked a gazillion times, but has anyone got a link to a good overpayment caluculator please

up until now i have been soooooooooooooo daydreaming about moving to a smallholding etc, but in reality maybe i should think about instead of saving money, but paying off our mortgage...

our mortgage is with the Halifax, so hopefully customer service is open today, so we can get some updates on exactly what type of mrtgge we have, i know it was fixed, and that finished last year, and we didnt contact them on what we wanted to do, so maybe they have stuck us on another fixed rate?

I have so been in ore of everyone becoming mortage free:T and have been a regular visitor to the threads

skaps

http://forums.moneysavingexpert.com/showthread.html?t=1157173 this is an excel spreadsheet that i find useful to help me see the difference that small overpayments can make

COOLTRIKERCHICK

skaps wrote: »

http://forums.moneysavingexpert.com/showthread.html?t=1157173 this is an excel spreadsheet that i find useful

thank you:T

really appreciate the link

shangaijimmy

Can't believe we're less than a month till the first posting date. We'll be behind the our intitial schedule but with a good month likely ahead shouldn't be too far off - and above anything we'll have knocked at 2 bricks off our fridge house!!

It's great checking here to keep motivated - so good work to all

curlygirl1971

COOLTRIKERCHICK wrote: »

our mortgage is with the Halifax, so hopefully customer service is open today, so we can get some updates on exactly what type of mrtgge we have, i know it was fixed, and that finished last year, and we didnt contact them on what we wanted to do, so maybe they have stuck us on another fixed rate?

Hi

If you were on a fixed rate product with the Halifax and if that fixed rate came to an end then it is likely you went on to their Standard Variable Rate (currently a relatively low 3.5%). This rate tracks Bank Of England Base Rate which is currently at an all time low - so if you hear in the news that that rate is rising the SVR is likely to follow. However BoE is currently expected by some 'experts' to remain low for a while yet. You should get an annual mortgage statement from the Halifax on the anniversary that you took the mortgage out - but yes, give them a call and find out your details.

gerbiljo

cooltrickerchick i want a small holding too! hoping once weve paid off our mortgage we can buy a lovely forever house in the country good luck!

loopy-juice

I'll be a yellow too.

tiddles

gerbiljo wrote: »

cooltrickerchick i want a small holding too! hoping once weve paid off our mortgage we can buy a lovely forever house in the country good luck!

We want one too!

We received our endowment payment today, after paying into it for 25 years, so were able to add in some extra to round it up and made a £20000 capital repayment today! I'm so pleased! :j