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

cha97michelle

Thank goodness for that. I have to say that it is worrying me rather a lot and i can rest about it for another month at least. More motivation to do what i can this month. More ebaying i think.

Kipper

£300 OP this month. Would like to try and increase the OPs as much as possible from next month as I am also worried about interest rates going up! Well done to everyone on the challenge so far, let's keep it up!

THRIFTY_GIRL

We are embarking on a major plan of home improvements so no overpayments for a while. Excited and slightly scared at the same time:D. We are dipping into savings........:o

I have managed to put £1,800 into an ISA for this year. The first challenge will be to make sure that this stays in the ISA. After this, I hope we can add to the ISA as we have extended the term on our mortgage. The reason for this is that the interest rate is just 0.77% but we can get 3.2% on the ISA. :money:

I must be disciplined and ensure that the £280 reduction in mortgage payment is matched by a £280 increase in ISA deposits.:T:TThat way I am building up a cash fund again which could be used to make a lump sum mortgage payment when the need arises.

gerbiljo

lets hope the interest rate stays low for the tracker people and hope that fixed rates start to go down so the benefit is passed on.

Its weird as every month i worry the rate will go up but at the same time I have based our overpayments on the rate staying the same (which it wont) so i may come a bit unstuck on this challenge when they do go up, guess u have to see every month it stays low as a bonus, rather than counting your chickens!

not long til next chart now

wynnvegas

Morning Folks,

Another landmark hit this morning - officially 200 days to go now until the mortgage is gone. We're hopefully over what was quite a tight month in April and, unless the pound plummets any further against the dollar, the holiday spending money is safely ringfenced. Pinching myself that just a couple of weeks after getting under the £20k mark, we're only a couple of weeks away from the £15k barrier.

Cheers,

Billy (#85)

LilacPixie

I did my self assesment form this week and i'm due a small refund. Question is do i overpay the whole lot or just a little bit??

Optimisticpair

UPDATE warning

Received statement today. 31 March 2010 expected balance to be £70,500 actual balance £69,500.

Still far too much to pay out for competing with OP and MF target but never mind will get there.

cha97michelle

Well done optimistic pair. I really wish mine would lose a £1000 without me noticing. :rotfl:

Daisy_Duck

financialbliss wrote: »

HPI.

Hi FB :wave:

Right I'm trying, really I am! But... I just can't get my spreadsheet to look like yours lol!
My Column E (% change) looks waaay out to yours- it's def wrong on mine!) and the right hand side of mine looks wrong too but one thing at a time or my head'll explode I think :rotfl:

Feel like a bit of a spreadsheet dunce how on earth do you do this in such a whizzy fashion?! You must be an IT genius!

DD:)

financialbliss

Daisy_Duck wrote: »

Hi FB :wave:

Right I'm trying, really I am! But... I just can't get my spreadsheet to look like yours lol!
My Column E (% change) looks waaay out to yours- it's def wrong on mine!) and the right hand side of mine looks wrong too but one thing at a time or my head'll explode I think :rotfl:

Feel like a bit of a spreadsheet dunce how on earth do you do this in such a whizzy fashion?! You must be an IT genius!

DD:)

Hi DD,
As long as you've followed the formulas, the only likely difference is the formatting.

HPI is to 1 decimal place (DP).
Difference is to two DPs.
Percentage changes set up as a percentage with 2 DPs etc etc.

Two options. I could either email you a copy of the sample sheet I did or I could set up a google docs sheet for all to view - a bit better than an image.

If you want a sheet PM me your email address and I'll send one on. Do not post it here!

I may also create a Google docs sheet anyway, so that people can view the details, but not this evening...

FB.