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

TheBees

Hi everyone and well done to us all for making overpayments however large or small.

We're going to investigate the possibility of paying a penalty to come out of our fixed rate mortgage which is around about 5.9% and see if we can save by moving to the normal variable rate (with C&G). In the past it hasn't seemed worth it but now we've paid off a bit more in overpayments it could be worthwhile doing.

Will update when we've found out.

TheBees

black_taxi_2

will be red this year----dodgy builder hurt me financialy more than thought---will only manage about 50% of target.(:>(

but at least im the right direction

wynnvegas

No more overpayments this month - I think I may have been a little too organised and careful in our planning and the spur of the moment overpayments have stopped since we've, to coin a stupid advert, consolidated our overpayments into one easy start of month payment.

However, whilst that excitement has gone, we still have our little start of month celebration and, every now and again, we hit a landmark date - today marks the 250 days to mortgage freedom landmark - if it's not too scary a concept, the number of days outstanding is a nice wee bit to change every day on the signature - every day is literally a step closer to where we want to be.

Cheers everyone. Really enjoying the stories, banter and carmeraderie of the MFW2010 and MFiT-T2 groups.

Cheers,

Billy

hypno06

£100 off the mortgage for me today - I want to increase my OPs bit by bit over the next few months as my new budgets settle down, but I thought I would start as I mean to go on and include this as a minimum extra.

Kipper

£30 OP today, not much but the little bits soon mount up. Keep chipping away fellow MFi3#2 ers!!

financialbliss

I've had a PM today asking if a balance update and change of objective can be submitted for Chart 01.

I was expecting to get updates in and then freeze the snapshots and publish on the 12th as the current chart, but as we missed quite a few people for whatever reason, I'm still happy to take updates until 31st March.

After the 31st, then you'll have to wait until chart 02 being published on 12th June to be included in the stats.

So... send your update in by PM, chart update form, back of a fiver or whatever before 31st March to be included in chart 01.

FB.

Kaz2904

If it's on the back of a fiver, please remeber to address it to Kaz2904, Kaz Towers, La La Land!
I'm a little itty bit ahead of target so far (I think). How excited am I!

gerbiljo

Made my big monthly overpayment today which was exciting, i look forward to pay day so much more now but then its such a long wait to wait again!

Kaz2904

Blimey gerbiljo, £2500 per month off the mortgage. That's an admirable target. Well done you!

gerbiljo

Kaz2904 wrote: »

Blimey gerbiljo, £2500 per month off the mortgage. That's an admirable target. Well done you!

Thanks! I guess the amount is a reflection of my keeness to become a housewife and stay at home mum:rotfl: It would be so easy to spend it instead but after the maternity leave struggle the money stopped being so necessary and more of an extra so I think this challenge is the way to go.

We will all be reeping the benefits in a few years hopefully:)