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

Kaz2904

cha97michelle wrote: »

Kaz i feel for you with the kids. My two both seem to be having growth spurts again too, so as well as needing new clothes, are always constantly hungry and it is a battle to keep them filled. They are only 3 and 5. If this is a taster of the teenage years, i will be glad not to have a mortgage to pay off.

It's a nightmare isn't it :eek:?
Both my DS aged 8 and my D Nephew aged 10 are having growth spurts at the moment. They are both shovelling down their food and then having a pudding and then going into the kitchen wanting toast :eek:.
SiL brought niece and nephew round for the day yesterday whilst I was trying to make breakfast for the other 5 eating children and 2 adults :eek:. When he heard we were having bacon sarnies his face lit up. SiL said "You've already had 3 breakfasts!" - hence he only had space for one buttie :rotfl:
Tonight we have a different nephew here who doesn't eat anything. At all. I have tried to figure out what to feed him but when I ask what's for dinner he just shrugs. So I'm just going for a normal :money: tea and serving him the weeniest bit possible. DH suggested we go out but I'm not paying £8 for a meal he won't even touch so we're all going to eat for less than that .
Wish I could feed him though but if his own Mum can't get food in him, best not to push.

adwat

Down to page 3 ... time to bump it up a bit!

curlygirl1971

Bump!!!!! (the excessive exclamation is due to the requirement of a post to be a minimum of 10 characters )

cha97michelle

I have just asked to have £10k of overpayments paid back to me so I can put solar panels on hopefully before the rulings change on the 8th of December.

I think for the purposes of the challenge, I will take away £10k from my figure when I send updates in, as it will take me almost back to where we were over a year ago. Still better off than not doing the challenge, but a definite backwards step in what we owe the world.

I am justifying it as a longer term investment, and the low cost of borrowing at 2.5% is more than affordable, as it will only be a mortgage of £33.5k still, which is still lower than many. Also, I started off 12/12/10 at £30k, and I am now at £23.45k, so I reckon about 14-18 months will pay it off at a very conservative estimate, though that all depends on rate rises, payment from the feed in tarif, and how much I earn from my dabbling over the next year. It has been at least £2-300 each month all this year.

maz123_2

Evening everyone,
I can't believe its been so long since i've been on here I'll hang my head in shame.
Its going to take me weeks to catch up, i've been without internet for what feels like for ever but got a new computer now:j
My good news is that i'm now under £25000 which was my aim but i'm now considering taking a new mortgage for potentially my forever house! Without this challenge i would not be able to be in this position but it means increasing my mortgage alot so i'm a bit nervous but we'll have to wait and see.
I'll go for a read of the posts now
maz 123

[Deleted User]

cha97michelle wrote: »

I have just asked to have £10k of overpayments paid back to me so I can put solar panels on hopefully before the rulings change on the 8th of December.

I think for the purposes of the challenge, I will take away £10k from my figure when I send updates in, as it will take me almost back to where we were over a year ago. Still better off than not doing the challenge, but a definite backwards step in what we owe the world.

I am justifying it as a longer term investment, and the low cost of borrowing at 2.5% is more than affordable, as it will only be a mortgage of £33.5k still, which is still lower than many. Also, I started off 12/12/10 at £30k, and I am now at £23.45k, so I reckon about 14-18 months will pay it off at a very conservative estimate, though that all depends on rate rises, payment from the feed in tarif, and how much I earn from my dabbling over the next year. It has been at least £2-300 each month all this year.

Great idea, I'm doing the same using solar as a tool to overpay the mortgage. Inverter has 20 year guarantee as the icing on the cake.

SuiDreams

Well Mortgage itself below the £20k mark for the second time, after borrowing some back for the bathroom (and cheaper than getting money back out of savings). The Gap between savings and mortgage balance is reducing, despite not being able to put as much towards savings as I previously have done. Hopefully will be able to make up for this after Christmas.

black_taxi_2

reduced mortgage by £879 nov

£30529

try to get it below 30k 12/12/11

Trying_to_be_good

Another pay day, another mortgage payment and transfer to the offset. Whilst we don't officially overpay the mortgage, they haven't reduced our standard payment during the two years of having the account despite the offset, so we effectively overpay by a bit more each month. A long way to go, but every little helps!

gerbiljo

I have been thinking about the solar panel thing but thats as far as it goes!! good luck everyone doing this Payday for us too now at £41k, absorbed some of what we were ahead by for a bigger credit card payment this month, good luck everyone, excited about the next update