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

Captain_Pie

I just couldn't help myself with a couple of small OPs, so have submitted a new balance of £137,200 exactly.

Every little helps and all that

the_end_of_the_rainbow

Just paid in another few pounds to take the balance down to £29,999 - so pleased to be under £30k.

Mortgage end date was 2031, now less than 4 years without any more overpayments so over 15 years shaved off.

Thanks again FB and Maz for running this challenge - would never had dreamt of overpaying the mortgage without this forum.

Have a great Christmas everyone.

financialbliss

Hi all,

Haven't found the time to process the updates so far this week. Hoping to get some free time tomorrow and Sunday, so should be good.

Just made a £25 payment to bring the balance down a little further - I'm now reporting £20,693.94 as my December figure.

Was hoping for something a bit closer to £20k - never seems to go down as quick as you would like, but at least it IS going down.

Thanks for the updates so far. Keep them coming in - chart to be published on Monday if you have not realised - the close of the second year.

OMG time files!

Financial Bliss / Maz123.

Thriftyknickers

Just posted our update and updated our signature. We're in the green for the first time (I think!) We've just been able to make a massive £25k o/p thanks to DH's redundancy payment! Fortunately he's found another job so as long as he can make it work, his redundancy last month has been a positive move for us. Unfortunately it does involve a 3 hour daily commute :eek: (not something I would consider myself!) but he's really excited about the job, which is the main thing. He won't be on quite as much money but hopefully the reduction in our mortgage payments will offset his slightly lower wages and increased transport and childcare costs. And you can't really turn your nose up at any job these days can you? We've also filled our Isas and put a big chunk away for a good holiday next year (I think DH is going to need it!) so we should be able to continue to make overpayments until ISA 2012/13 season anyway.

Merry Christmas and a Happy and Healthy 2012 to you all!

Aless

Hi All

I have just updated. It was a slightly lower figure than I would have liked but i have just brought a Vi-spring bed and that made a dent in the expected overpayments! However, I am so pleased and excited about the bed that I consider it thoroughly worth it.

I also do not know what has happened with Christmas this year. I have some how been very organised and I have almost all the presents I need to buy but I seem to have spent lots of money! I am pretty bad at present buying partly because I do not want much myself (but want I want tends to be expensive so I do not like asking people to buy me expensive presents as it is not fair) but every so often I manage to come up with really great presents. This year I have managed great presents but they have a price tag. The shops are so busy I am glad I sorted it out early.

Saying all of that I have managed to slip under £130k but not by as much as I had hoped. I am also not optimistic about the next year and I think OH's pay will suffer which will affect our overpayments. Anyway I cannot change any of that so I will just deal with it if and when it arises.

Finally, I cannot believe we are two years into this! How scary is that? Where has the time gone? It feels like three months not two years. I guess it shows you how worthwhile it is doing this challenge and trying to overpay, otherwise time would slip by and so would all the interest you end up paying to the banks.

glitterball

No 81 Updated

I thought I had given my self a hard target when I started this challenge, but if I can keep up my current payment levels, it looks like I could beat it by £5k.

My long term aim was to be mortgage free by 1/5/15 and thanks to this thread and the MFW yearly challenges I am quietly confident that I can make it.

Thanks everyone for keeping me on the sraight and narrow, everytime I think about reducing my overpayments I have a wee read of the threads and it strenghthens my resolve (pity it doent work the same with my diet;) ).

Merry Christmas

Courgette

109 updated - declaring a grand total of 3,973.83 before savings and mortgage balance.

Hoping to be at 0 around Easter then put some money back into savings so at the end of this challenge we will be have no mortgage and some savings in the bank.

Thanks as aever for all your hard work FB :beer:

uzubairu

No: 19 updsating.

I've updated and I'm declaring £41,734.

This is higher than my September update because of a car purchase in October (which gives me lots of pleasure every day I drive it ).

We are still on target to reduce the mortgage to £32K by the end of next year, but secretly, I would like us to be around £25K.

Although if anyone would have told me in 2009 that we could shave £40K off our mortgage in 2 years, I would have laughed at them.

Thanks go to FB and Maz123 for their efforts in managing this challenge, and all the people who motivate me with their posts.

unhappy_shopper

#77 reporting:

Our current outstanding mortgage is £146,591.72.
Our aim at the start of this MFW journey was to completely clear our mortgage of approx. £47K. Midway through this challenge, we decided to buy another home as it will make the commute easier for my OH. We have been trying to overpay whenever possible. Good luck to all fellow MF wannabes in their OP efforts.

diadeb

curlygirl1971 wrote: »

All my xmas pressies are bought and the one's that have arrived have been wrapped. All xmas cards posted (Using franking machine at work and reimbursing petty cash - much cheaper than buying stamps) or hand-delivered. This level of organisation at this point in the month is a a complete first for me . So I just throught I would boast about it. It's taken 6 months of hard slog but I've finally got to the 1st mark in my weight loss - another one to go. Chuffed so I thought I would share that as well :rotfl:before I ruin it with mince pies, roast parsnips, cheese, pate, port, chocolate........no, no, no, don't worry - I'll have a treat but I won't go on the rampage

I feel very lucky to be in a job at the moment although I'm sure I'm not alone in thinking "How much worse is this all going to get for us as a collective / is it going to slap me personally round the chops at some point in the future". It actually does scare me. Thank-goodness I saved up. Thank-goodness I started OP'ing.

You hit a few chords here for me! However I am the opposite and Christmas is probably my most disorganised ever, with a trip away before Christmas to fit in as well.:eek:

Well done on your diet, it's very sensible to lose weight just before the season when you are most likely to gain it. I have lost 10lbs and still managed to have four Christmas parties/meals in 8 days and come out the other end weighing the same. If I hadn't been on my diet I could easily have gained several lbs! So I am enjoying all that Christmas will offer, but knowing that I am under strict control. Best Christmas pressie for me is seeing my tum disappear!

Maybe being disorganised will actually mean I spend less as there won't be time to do much shopping! None of my kids have asked for much, so a few well chosen things should be the order of the day. Happy Christmas to everyone here and know that despite the hard times that many are having with pay cuts and job security, we are so much better off than many. Just being a member here helps keep us all on the straight and narrow I'm sure. :snow_grin