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

loopy-juice

black_taxi wrote: »

fair enough loopy--theres good an bad debt

No worries mate. Getting a tad annoyed at >some< of the scrotes actions at the protests. Seen one guy 'threatening' to go onto the streets to sell drugs to work his way through. Nice.

Sorry about clogging the forum up with this.....

diadeb

Just submitted my update. Haven't done anything special, just plodded on with regular overpayments and regular payments into the savings account for offsetting. Our mortgage rate is so low that it doesn't seem worthwhile paying much off as you save a negligible amount of interest, so it feels more comfortable to have a nice chunk in the savings account instead!

The next quarter is always a good one as we get a couple of months off the council tax, water rates etc, so there's always a bit extra to bung in the pot.

Lovely catching up with all the posts and well done to our two new mortgage free peeps. I can't believe a year has gone since we started, but what an excellent challenge to join - we have now passed the 50% target, so comfortably in the green still!

Happy Christmas to one and all.:xmastree:

greent

Haven't posted in ages

No 117 reporting in for 12/12

NOV OPS: £506.84
DEC OPS: £671.13

Balance 12/12/10 £92162 (will aim to get rid of that pesky £162 before the year end!)

tattycath

Updated via google docs. Hope to be sub 85K before year end - fingers crossed
well done everybody, continued good luck and merry christmas to all. x

mfwin2019

Ending the first year at £172607, ahead of where I thought we would be as we expect to really start repayments next year.

We have be concentrating on our 0% credit cards(the overspend from our home renovations) & these have come down nicely from £10,000 to £1500 during the last 12 months, to be repaid by the end of March 2011

Well done to everyone on their achievements, I don,t often post but I do regularly read every ones updates & get lots of inspiration & ideas from you all

tiddles

I've already updated - we're putting money in ISAs rather than the offset account, as we get a better rate of interest that way (still not that much, though!)

I've also been tracking all our spending this year, so tomorrow I'll be adding up all the totals - gulp! At least we'll know where the money's gone, and this will be a useful way to plan next year's budget, and to work out how much we can aim to save.

I'm very happy with our progress with MFi3T2- thank you all for your encouragement, and good luck with the challenge in the coming year!

Aless

loopy-juice wrote: »

Massive fee? The average student who now goes onto self funded higher education will have to find an extra £20 per week once they hit a salary of 21k per annum. There is obviously no ceiling to this and stats show that the vast majority of people who attend uni have a much higher earning capacity than those who don't.

So if they are earning so much more they will be paying so much more tax anyway. You know through higher tax rate, maybe even the 50% band, buying a more expensive house paying more stamp duty or buying more any way and paying more VAT. That would not be double charging them and burdening the young at the start of their lives. It also would be forgetting that maybe education is a good thing in itself, something that is good for the country, big fees/debts might put off bright and able kids from poor backgrounds reducing social mobility and there are few viable alternatives to university. Yeah, how dare people protest or complain, apathy is much better.

trevorsminted

How about you move to either Scotland or Wales even if have a bigger mortgage then you will save the 9k on fees!!!

the_end_of_the_rainbow

189 the end of the rainbow reporting in.

Start Balance - £107243
12/12/10 Balance - £69931.24
Reduction - £37312 (and a few pennies)

Thanks again to FB and Maz for all their hard work.

Merry Christmas everyone.

Aless

I have just updated via google docs. As always it is a bit of an estimate as our mortgage payments goes in on the 12th but I think I have got it right at £173,252.99. A bit more than expected but there is a chunk in there allocated to our extension so it will be going down again next year (if we can persuade the builder to finally start).

Everybody's achievements have been pretty amazing. Well done to all.

Thanks FB and Maz for all your hard work.