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

gerbiljo

woohoo payday

chickadee

I have just got back from holiday and dived straight into my spreadsheet. My balance for the September update will be £11,311. I have just scheduled a further £175 to be paid off on August 31st in addition to my regular OPs. This means I could be on target to repay by July 2012, when my DS leaves high school. That will be some achievement!

Must update the google form. I'm really looking forward to seeing how everyone else is getting on. Keep it up!

spidystrider

chickadee wrote: »

I have just got back from holiday and dived straight into my spreadsheet. My balance for the September update will be £11,311. I have just scheduled a further £175 to be paid off on August 31st in addition to my regular OPs. This means I could be on target to repay by July 2012, when my DS leaves high school. That will be some achievement!

Must update the google form. I'm really looking forward to seeing how everyone else is getting on. Keep it up!

Well done :T I can't wait to have a balance like that. You must be really looking forward to July 2012.

RosieTiger

chickadee wrote: »

I have just got back from holiday and dived straight into my spreadsheet. My balance for the September update will be £11,311. I have just scheduled a further £175 to be paid off on August 31st in addition to my regular OPs. This means I could be on target to repay by July 2012, when my DS leaves high school. That will be some achievement!

Must update the google form. I'm really looking forward to seeing how everyone else is getting on. Keep it up!

Congratulations, almost there and what a great time to reach the end!

chickadee

RosieTiger wrote: »

Congratulations, almost there and what a great time to reach the end!

Ha ha, yes - just in time to start putting him through college and university lol!

Seriously though, I am really pleased to have got this far and this thread has helped tremendously, so thank you to all of the regular posters and FB for keeping it going. :T

MsWow

Can I join?

*Your forum user name: MsWow
* The challenger number you would like: 14
* Your mortgage objective for the remaining part of the challenge. Reduce my mortgage from 124000 to 100000

Thank you:beer::beer::beer:

spidystrider

I've updated and my balance now stands at £113,961, with 13 years and 10 months to go. I can't wait to get it down to 5 figures. I'm looking forward to seeing how everyone else is progressing too .

Trying_to_be_good

I've just updated for the September chart, from my spreadsheet. I'm not counting my offset savings against the target, yet, so it'll officially look like I'm slipping behind.

We went to see a very nice hand-build kitchen company so the offset savings might take a hit if they suggest a brilliant design. Otherwise, I'm investigating painting the timber kitchen we already have, and I've bought a new fridge-freezer to cater for fmaily size food storage rather than the old one which meant shopping every other day. I can now batch cook a bit, so shoudl save money on food and electricity in the long run (honest!).

Keep it up everyone - being disciplined about savings is what enables me to make a choice to have these improvements, or not - balancing off long-term mortgage free-ness with short-term happiness (and compromise with the spendy OH!).:j

P.S. Just did the very 'MF' thing of transferring £2.18 from my current account to round up my share of the offset savings to be EXACTLY £75k after the September savings standing orders!

shala_moo

Hello everyone :wave:

Loving seeing some of the updates.. some fantastic figures going around..

Unfortunately we'll be going backwards in this challenge as we've bought a new house... I didn't think we'd be moving till after 2012 but we saw a house we love so we decided to go for it.. :j

It's only early on, we still need the surveys done and that, so i won't give up the challenge just yet(incase it falls through), but I'll have to revise some figures later in the year when everything's settled.. (still deciding whether to sell the property we're in now or rent it out :think:)

Obviously we're going to have to use our savings that i was offsetting against the mortgage to pay solicitors etc so that will dwindle rapidly..:(

Does anyone else hate dipping in to their savings? It's just so wrong..:rotfl:

silver_4444_uk

Hello Everybody,

I have just updated.
My outstanding balance has increased by just under £5000 since the last update (£85737 to £90487), due to part of my "overpayment / savings" pot being invested in the stock market.
I know many of you will disagree with this strategy, but it is a risk that I am happy with taking and I have no complaints, as I believe that in the long term it will give me a better return than making only overpayments. Only time will tell if it was the right choice !

As an aside it never ceases to amaze me just how well so many people on this thread are doing.
It is truly inspirational looking at some of the figures that people are managing to achieve !

Well done and good luck everybody,

Silver_4444_uk
No. 152