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

abouttimetoo

Hi all

Sent my quarterly update to FB yesterday, I'm still way behind track but I always knew this would be the case in the first year but I'm sure things will improve next year :T

LouiseJ

I have started to slip behind too, mainly because OH has been put on a 4 day week at work so his salary has been short, at least he still has a job for now anyway.

If the worst should happen I think our mortgage overpayments will be our saving grace though.

Moneybag

Hi all,

Have just reported my guarterly update because I was too excited to wait any longer.

I had a really unexpected sum of money (over £6,000) paid to my interest only mortgage account during last week.

Although it was money owing to me I had no clue it was going to be so much. This equates to about half of my planned challenge of paying 12K off the mortgage by the end date of 12/12/12.

As I am doing this alone due to dear hubbys bereavement 18 months ago, and I really don't want to share my plan personally with family/friends, it's so good to be able to let you good people know my happy news.

I'm still going to overpay as much as I can myself, but at least this has given me some peace of mind and a bit of freedom to choose whether to treat myself a little when I'm a bit down.

Good wishes to everyone this holiday weekend.

financialbliss

Moneybag wrote: »

Hi all,

Have just reported my quarterly update because I was too excited to wait any longer.

I've been a bit quiet on this thread recently. There's a few people who have already updated for chart 02

I'll try and have a look at these today and update the who's updated chart, but keep the actual chart under wraps until 12th June.

Keep 'em coming in, ideally before 12th June, but an update, even it it's late is better than none at all...

Good to see you're all still full of enthusiasm.

Regards
Financial Bliss / Maz123.

gerbiljo

Moneybag wrote: »

Hi all,

Have just reported my guarterly update because I was too excited to wait any longer.

I had a really unexpected sum of money (over £6,000) paid to my interest only mortgage account during last week.

Although it was money owing to me I had no clue it was going to be so much. This equates to about half of my planned challenge of paying 12K off the mortgage by the end date of 12/12/12.

As I am doing this alone due to dear hubbys bereavement 18 months ago, and I really don't want to share my plan personally with family/friends, it's so good to be able to let you good people know my happy news.

I'm still going to overpay as much as I can myself, but at least this has given me some peace of mind and a bit of freedom to choose whether to treat myself a little when I'm a bit down.

Good wishes to everyone this holiday weekend.

thats really good news, well deserved

spicymel

Good news and bad news this month.
Bad news is that my part-time work will end this week - was due to continue till Sept but new government have scrapped the project I've been working on
Good news is that I've managed to make an overpayment of just over £3000 following the maturity of insurance policy

financialbliss

financialbliss wrote: »

I'll try and have a look at these today and update the who's updated chart, but keep the actual chart under wraps until 12th June.

Quick post - we've had 12 updates for the June chart already. I've updated to a holding sheet and updated the who's updated chart as per the beginning of this thread / my signature.

FB.

Penny_pauper

Hi Penny pauper here

Have up dated with the figure of £146, 243.81. That's a £1609.72 reduction since the first chart :jNot bad considering we have been getting everything ready for the new baby arriving (not long now) and saving for maternity leave. Think we might slip behind around about december as that is when my wages will really go down. Oh well, every little over payment helps!
Good luck everyone and I can't wait to see the next chart.
PP

Ayeshalush

No. 76 reporting in (I have already updated via Google docs).

My total reduction since the start of the challenge is £6138.62 bringing my mortgage balance to £27175.84.

Where things go from here for me regarding this challenge is a bit up in the air at the moment. I am planning to buy a horse and if that does happen the 'overpayments' (in a savings account just now) will go towards buying it and, of course, my overpaymets will dramatically reduce as a result of paying for the horse's livery, etc. I have been pondering this for over a year and really struggled to make up my mind if my mortgage should be my priority. I turned 40 this year and, although I would like the security of my house being fully paid, a number of events over the last year have made me realise that you have to make the most of life. Due to my age I think buying a horse is something I should do sooner rather than later. While I am looking for the 'right' horse, which may take some time, I am going to continue making and reporting my 'overpayments'and once I do get my horse I will continue to overpay anything possible but it is unlikely to be very much as I am under no illusions about the cost of keeping horses.

Apologies if I've discussed this before (although I think it was on the MFW 2010 thread).

Ali
x

gerbiljo

Ayeshalush wrote: »

No. 76 reporting in (I have already updated via Google docs).

My total reduction since the start of the challenge is £6138.62 bringing my mortgage balance to £27175.84.

Where things go from here for me regarding this challenge is a bit up in the air at the moment. I am planning to buy a horse and if that does happen the 'overpayments' (in a savings account just now) will go towards buying it and, of course, my overpaymets will dramatically reduce as a result of paying for the horse's livery, etc. I have been pondering this for over a year and really struggled to make up my mind if my mortgage should be my priority. I turned 40 this year and, although I would like the security of my house being fully paid, a number of events over the last year have made me realise that you have to make the most of life. Due to my age I think buying a horse is something I should do sooner rather than later. While I am looking for the 'right' horse, which may take some time, I am going to continue making and reporting my 'overpayments'and once I do get my horse I will continue to overpay anything possible but it is unlikely to be very much as I am under no illusions about the cost of keeping horses.

Apologies if I've discussed this before (although I think it was on the MFW 2010 thread).

Ali
x

How exciting, let us know when u find the right horse! I have wanted a horse my whole life (intermittently to a degree) but I really want to get a pony now so my little girl has one as she grows up, I hope this would allow me to get enough confidence so in time i could have a horse myself! Although its not likely to be imminent as shes still young and we are half heartly waiting for a local stables to have a space, how exciting good luck!