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

chickadee

Just done my sums and updated my spreadsheet so I have had a chance to put through another overpayment. Balance now stands at £20,951. Down from £36,621 so I have overpaid £15,670. Don't think I'll be able to continue at that rate though! New job is good for the OPs because I'm so busy I don't get the chance to go shopping!

yukkibear

My balance is now 82403 which is a pleasant surprise.

Double_Trouble

Number 29 reporting in I have updated by google docs

The figure today stands at £244,898.15 meaning a reduction of £15901.85 since we started which I calculate is 17.5% of the £90,800 pledged which puts us in the green zone for the first time :j

Not sure what will be happening next as we need to remortgage in August and are planning some building work so could be going backwards :eek:
DTxx

broomstick27

Ok i've updated. now at £128,277.81 which is max £500 overpayments each month. Will be getting harder soon as my maternity payments decrease but not as hard as its going to be when I go back to work - childcare costs eeeeek!
Seem to remember 3 months ago i said i would be setting up a savings account, will def do that this month!

Daisy_Duck

financialbliss wrote: »

Way to go folks...

we have collectively just reduced our mortgages by:

£1 million pounds.

My goodness! :T Look at us swiping lots of interest from the banks yay!

Have just sent in my June update figure. Missed out on being in the green by £100 or so last time so am keeping my fingers crossed for this time!

Can't wait to see how we are all doing- good luck everyone! DD:)

hoobydoobydoo

What fantastic news - £1 000 000 paid off already! Pats on the back all round I think. Can't wait to see the new sheet now - good luck everyone!

HDD

Lynn11

Well we recently moved house therefore we have increased our mortgage to £115,500 from June and it is gaining interest daily. The accounts are not really registering properly as we have made the usual mortgage payment from the old mortgage this month but it will all be amended next month so I was advised.

Sorry unable to give you any figures this time but will do so in 3mths time. Not sure what our target would be - try to achieve £105,000. Can my objective on page 1 be amended please.

maz123_2

:beer: to everyone it seems unbelievable that £1,000,000 has been knocked off mortgages around the country. and some of its mine :j

i've assessed the damage and it comes to approx £1500, but i've just had a pay rise of £100 per month and the money my dad gave me to put in the offset he's said i can keep. I'm not moving it into the mortgage quite just yet cause I've told him he should spend it on some holidays, he's retired so I think he deserves it i'm just pleased he's letting me offset it!
I'm amazed at how much money has been knocked off mortgages it's mind blowing really what's been achieved in such a short space of time. It just shows what can be achieved when you put your mind to it, maybe we should email the chancellor with our suggestions of saving money :rotfl:

Well done everyone
maz x

motch

Have just sent in my details, balance now down to £27,100 approx

Just the standard repayments for me at the moment but paying
down the credit cards quickly as the mortgage is only at about 3% at the moment.

Well done everyone so far!!

loopy-juice

£1m paid off!! Thanks FB. Top Man.