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

twinklie

Mortgage at start of January: £ 39'767.97
Overpayments in Blue.
Interest in Red.
Balance in Green.

Month: Payment (Std / OP) / Interest (per day) / Net reduction / Balance

January: 450.00 (328.81 / 121.19) / £178.62 (£5.76) / 271.38 / £39,496.62
February: 450.00 (328.81 / 121.19) / £177.48 (£6.34) / 272.59 / £39,224.03
March: 450.00 (328.81 / 121.19) / £176.18 (£5.68) / 273.82 / £38,950.21
April: 450.00 (328.81 / 121.19) / £174.95 (£5.64) / 275.05 / £38,675.16

Totals: Payment / Interest / Net reduction.
Grand Total: 1800.00 / 707.23 / 1092.84

Balance outstanding: £38,675.16

Woo hoo.

setmefree2

gingernutbizkit wrote: »

Our total debt currently stands at £139,660.07 which means....
1) We're under the £140K mark :j
2) We have achieved the figure needed for our MFiT target so currently 2 months ahead of paying our mortgage off in three years :j:j
3) For our pay £50,000 off this year we have so far achieved 29% of that goal.
4) Since our get real date in October 2008 we have paid off £38k or 21% of our debts :j:j:j:j

:T:T:T

setmefree2

twinklie wrote: »

Balance outstanding: £38,675.16

Woo hoo.

:T:T:T

setmefree2

mummyofonechild

setmefree2

I do love your graphics. I look forward to seeing what you come out with next xx

Raini

Hello my fellow MFWs! Hope you're all having a wonderfully lazy and chocoholic Easter!

Just wanted to share my good news with you, this week I have had a job offer! Finally!! With some hard work I've worked out that we should be able to pay £27,750 off the mortgage by 12/12/12 with some serious saving that is, so only £2,250 short of our target (we might even be able to find this somewhere!). Not bad considering I lost my job in December. Although this does depend on the interest rate not moving (which of course it will) so I guess we could end up anywhere! But at least we should be able to start paying something off the mortgage! The job doesn't start until June as it's a yet to open Children's Home and there is a little bit of me saying don't count your chickens until you start but hopefully it will all work out!

cake21

Raini wrote: »

Just wanted to share my good news with you, this week I have had a job offer! Finally!!

Congratulations! :beer:

gerbiljo

Raini wrote: »

The job doesn't start until June as it's a yet to open Children's Home and there is a little bit of me saying don't count your chickens until you start but hopefully it will all work out!

thats superb news:j

TheBees

Spent far too much on the credit card last month (which we always pay off in full) so when that's due for payment I shall be "borrowing" money from the savings account. :mad: Quite annoyed as we usually do the grocery challenge and keep a careful eye on the credit card bill but for some reason we got a bit carried away in March.
Never mind... it's another new month....

SuiDreams

Our new offset mortgage is now up and running, and I've applied for this years ISA as well. So far a good start for the 2nd quarter, but need to make up the £200 I was down by on Quarter 1. Fingers Crossed.