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

unhappy_shopper

#77 reporting with an update: Our mortgage balance stands at £132,893 as of June 2012.

diadeb

Just posted an update. Haven't had time to juggle finances - been busy buying a new car for one, so sadly for the first time in the challenge, we've gone into the yellow.

Still at least it's all downward, so musn't get too downhearted.

Trying_to_be_good

My builders haven't reached their milestone for payment by this update, so the savings balance is looking far more healthy than it will by the end of the month... If the wet weather keeps up, it might still be looking healthy into July!

the_end_of_the_rainbow

Have just updated - Balance now £8446.

Hoping for a big fat £0 by 12/12/12!

brizzledfw

Hello everyone!! Sorry have not been on the boards for ages...weeks and weeks as too busy working (and well there was a lovely but rainy and windy week in East Anglia last week too! Pretty frugal though as we camped..)

I diarised this date so I didn't miss it!! It's a critical date in the calendar!

So...today No. 185 reporting in....our mortgage stands at £178,106.00

6 months to go before I start my new challenge of being mortgage free by 2020!! Will update my sig later.

Hi to everyone and best of luck with your challenges

Brizzle

financialbliss

brizzledfw wrote: »

Hello everyone!! Sorry have not been on the boards for ages...weeks and weeks as too busy working (and well there was a lovely but rainy and windy week in East Anglia last week too! Pretty frugal though as we camped..)

Hi all,
Pretty similar story here too. Was off last week (camping too), and other than that, have had very little time to login here. I'm out this evening, and should have realised and published the chart last night, but forgot.

So, if anyone is looking for an early update, I expect it's going to be around 9.30pm tonight at the earliest.

Keep the updates coming through though...

Thanks,
FB.

taka

Well done everyone!

Number 101 reporting in... (google doc done!)

My mortgage is now £35733 as of yesterday which puts me in the yellow zone I think. I'm just over £351 behind by my spreadsheet but I should hopefully catch up just in time for the final challenge payday.

Are we definitely having a MFiT3? Have we started taking names for this yet?

Double_Trouble

No. 29 slinking in update done present balance £234,958.21 nowhere near my £170K target but still hoping to chip a bit off before 12.12.12 so firmly in the red - miracle required:D

DTxx

Aless

Hi All

A little late with my update. We have just brought a new car so unfortunately the offset has taken a huge bashing:eek: We also have not yet been paid for the sale of our own car so it all looks particularly depressing.

Without having brought the new car we would have reached our target but now it is looking like it will be almost impossible to reach £100k I should not be too dispondent as our original target was £125k and we have at least beaten that

The other thing is that the main dealer from which we brought the car was trying to sell us finance. Which we calculated to be about £5k more expensive than the loss to us from using the offset savings. They said that 90% of their customers buy with finance. If you think that probably another 5% use their own finance through a bank as it can be cheaper, hardly anybody can really afford the cars they buy:eek: It at least explains my bafflement at how people can afford the expensive cars they drive around in (they cannot really)! i know this is a bit simplistic and i maybe old fashioned in saving up for things but it works for me. Money gives you options.

moneysaymoneydo

Come on !?!? put these lot out of their miseries, every due date there is a delay and some blady blah excuse for god sake 12th of the month??? simples