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

gerbiljo

Well we have just updated at £12800, this means we have paid off our target as set in 2009:beer: however we are still on track now tho to achieve our updated target of clearing the lot... hopefully august 28th, 80 days to go... its seems like its been a long time coming!!

Good luck everyone looking forward to everyones updates

uzubairu

No: 19 update.

Mortgage currently stands at £25,497.

Initially we wanted to knock £50K off over the 3 years (mortgage at start of challenge was £81K), but got bitten by the bug and the threat of redundancy for OH (in 2010) made him even more commited to the cause.
So there has been a strong focus on channelling all spare money to the OPs.

I revised my target down to £20K, but I think we should hit the late teens by the end of the year.
Still had a minimum of 2 holidays per year (we budget monthly for them so we don't go without, but still get great deals) and a few other treats (new car - took £7.5K out of the OPs to pay for it), so it hasn't been a painful journey so far.
Hitting our initial target early has meant that we look forward to being mortgage free next year.
Well done and good luck to all of you who have got this far, the fact that you are on this thread means that you have made progress with your mortages (regardless of your incomes) and it is a step in the right direction.

black_taxi_2

nice1 uzu--im aiming to be a teen also by 12/12/12

spidystrider

Just about to update with my new amount, I am sitting at £96,300 now, with 11 years and 2 months to go. I will have a nice lump sum to pay off at the end of October, as this is when our first 3 years will be up.

mortgagenomore_2

£19,980 for this update. £900 to pay by 12/12/12. So pleased to not have a 2 at the start that seemed to drag forver although lots of credit card debt paid few months so been a bit slow with the overpayments but on track and under 20k now, good luck to all!!

WorkingHardDFW

Challenger number 100 with an update.

Current balance is standing at £77,480 which is good but not on track to achieve the £50k we were aiming at. TBH we've are overpaying about £360 each month and this is comfortable. We've had to adjust our income to allow for losing child benefit next year and that extra (as it is now until it ends) is being used for various bits.

Pleased to still be here and that we'll be sub £70k by the end of the year though.

puddle96

174 here (also updated by google docs)
Balance today is £18,500. I'm clearly behind on plan A but plan B is coming to fruition and at the September update I hope to be able to tell you I'm MF

motch

(200 here, also updated by google)
balance around £23,300 i'm also well behind... at least the interest part is only around £55 per month.

tattycath

Just updated-going in the right direction but not as quick as I'd like.

tattycath

Just phoned the bank and it appears I miscalculated-so we've actually paid off more than £1K more than I thought