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

the_end_of_the_rainbow

189. the end of the rainbow reporting in.

Mortgage Balance as at 12/3/11 willl be £54800 exactly - I have just processed another OP to get rid of the annoying £9.93.

Balance is now nearly half of what is was when we started so well pleased. OP's will now drop significantly as DS1 off to senior school in September and we now need to pay school fees for the first time.

Thanks again FB and Maz for all the effort you put into this.

silver_4444_uk

Hello Everybody,

My mortgage balance is now just over 88,000, when I take my overpayments, savings and investments into account.
I have just cashed in an endowment policy (which was a really bad buy, I should have done it years ago !!! ).:mad:

I now have a "savings and investment pot" for the mortgage that I pay into every month (75% of my monthly savings) as the rates out there are better than my tracker mortgage rate (base +0.99%). I also make mortgage overpayments ( the remaining 25% of monthly savings ), which I know sounds crazy, but it is for my own piece of mind, so that I can see the mortgage balance decreasing every month and it makes me feel guilty if I even think of going near it.

I am very fortunate that my mortgage allows me to borrow back overpayments, because with Student Tuition fees going up next year I can see that being a very useful facility. It won't do my mortgage balance any good, but if it gives my 2 girls a debt free start after Uni. then it will be worth it.

Thank-you again Financial Bliss and Maz for your efforts as ever with this thread.

Keep at it everybody and Good Luck,:T

Silver

curlygirl1971

Welcome back BT! Glad you enjoyed your holiday



Well I'm a self confessed BOE base rate obsessive but yesterday I sank to a new low. I had a minor op yesterday and was back on the ward at 12 but had to wait a full 20 mins before I could reach my phone and check the news!!:rotfl: I got my priorities straight

mummyofonechild

I am still declaring a balance of £5750

Superfast_Gran

No 133 checking in £35301.79 - just updated Google doc - balance not decreased by much I'm really sorry to say. Worse, next month it will be even higher because of the new house but hey ho. At least it will be better and safer for me, and what price health I ask?

tattycath

Have updated through google docs -not quite where i'd like to be but getting there slowly-and i have just had 9 weeks off work through illness
Only back on reduced hours now but we'll get there one way or another.

starbucks

Stabucks reporting in.

Balance now at £11,500. This challenge is helping me keep motivated and on the straight and narrow towards making overpayments.

abouttimetoo

Hi all

I updated via google docs last week but just to report my balance here. My IO part (the bit that my challenge is on) is down to £77,468 and I'm way behind target

By way of an update on my tax situation - my first appeal has been refused, got another level of appeal to go through. I would type the whole sorry saga out for you but it's too depressing and you'd probably think I was making it up....

Hope you are all well

curlygirl1971

abouttimetoo wrote: »

Hi all

I updated via google docs last week but just to report my balance here. My IO part (the bit that my challenge is on) is down to £77,468 and I'm way behind target

By way of an update on my tax situation - my first appeal has been refused, got another level of appeal to go through. I would type the whole sorry saga out for you but it's too depressing and you'd probably think I was making it up....

Hope you are all well

You're right ATT, it really does beggar belief! Sorry to hear that this hasn't got any better yet - must be very stressful

RosieTiger

On these tax cases, is this happening when on PAYE??? Seems pretty unfair that if your employer gets it wrong, or HMRC gets it wrong you get landed in it like this?????