We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Mortgage Free in Three - Take 2 challenge (MFiT-T2)
Comments
-
I have my £5,100 cash ISA allowance for this year saved, and will have next year's saved from 6 April, but nowhere to match my fixed rate mortgage (unless I tie it up for five years, with only three years of the fixed rate remaining), so it's staying in the offset tor now.
Maybe offsets will become even more popular?Mortgage Free thanks to ill-health retirement0 -
As always sensible approaches make sense. It would be great to get the M paid off and continuing low rates offer a great opportunity to do it, but, if you can better the rate with savings then save now and pay later.RosieTiger - Highest £242,000 Feb 2004 :mad:
Lightbulb Dec 2008 £146,000 by March 2026:eek:
MFi3T2 and T3 No 28 - Dec 2009 Start Balance £117,000
Current Position-Fully off set by savings since March 20130 -
taking a breather building up bank balance and emergemcy fund has paid first dividend
i no longer need a o/draft---and bank paying ME interest
my mortgage o/p are small but balance still going down and i will be back on course for higher mortgage o/p 2012£48515 interest £181 (2009)debt/mortgage-MFIT/T2/T3
debt/mortgage free 28/11/14
vanguard shares index isa £1000
credit union £400
emergency fund£500
#81 save 2018£42000 -
Been number crunching and (fingers crossed) next year we should be able to up the overpayments!!
Well done to everyone so far and continued good luck!! xxGE 36 *MFD may 2043
MFIT-T5 #60 £136,850.30
Mortgage overpayments 2019 - £285.96
2020 Jan-£40-feb-£18.28.march-£25
Christmas savings card 2020 £20/£100
Emergency savings £100/£500
12/3/17 175lb - 06/11/2019 152lb0 -
not been on for a while but my 10k endownment never came through. it was 8.5k and i've syphoned off a grand to split between my two lads (500 each). 7.5 was paid off the mortgage a few days ago.12/12/12 Lets party!:beer:0
-
loopy-juice wrote: »not been on for a while but my 10k endownment never came through. it was 8.5k and i've syphoned off a grand to split between my two lads (500 each). 7.5 was paid off the mortgage a few days ago.
Wow that will make a big difference. Well done :TMortgage Free in 3-T2 : Started at £151,000 Nov. 2009 Mortgage Free Oct 1st 2015
0 -
Just realised we are rapidly approaching the next reporting date, roll on 12th September!RosieTiger - Highest £242,000 Feb 2004 :mad:
Lightbulb Dec 2008 £146,000 by March 2026:eek:
MFi3T2 and T3 No 28 - Dec 2009 Start Balance £117,000
Current Position-Fully off set by savings since March 20130 -
Exciting times!!!
Reduction in daily mortgage interest since October 23 (new mortgage) - £2.36 July 25
% of house owned/% of mortgage paid off. July 25 - 38.82%/31.66%
MFiT-T7 #21
MFW 2025 #2
MF Date: Oct 37 Feb 370 -
Oo - one more payday and overpayment until the next chart, then!
Go for it, everyone, it's the second half now!Mortgage Free thanks to ill-health retirement0 -
RosieTiger wrote: »Just realised we are rapidly approaching the next reporting date, roll on 12th September!
Indeed I'm looking forward to providing my first update
I may have to revise my challenge target - the right way
- will look into it next year and see how things go! Highest mortgage debt - £167k in Dec 2008
MFiT-T2 challenge - starting balance of £144875 in July 2011 - aiming for £130k by December 2012
Currently overpaying & hoping to be mortgage free by 20250
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.3K Work, Benefits & Business
- 599.6K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards