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

black_taxi_2

its ok were not phar away

taxi73

Have a good holiday.
Can't wait for my official starting figure tomorrow..that's when Abbey update the system...
It's a lot less than it would've been as I've been saving £500 p/m the last 3 months and also put a bit away in egg as and when I can.
I'm also trying to clear the rest of my debts at the same time and have a plan that maybe I can be totally debt and mortgage free by 12/12/12 which will be fantasic as it was going to be a struggle to do it by feb 2014 for my 50th....but I'm alaways up for a challenge!!!

gallygirl

Well, my final figure for the challenge has just been sent on googledocs - £68,416 :eek: which is £16 less than I thought :T

I'm off to a head start as FB asked for whole pounds and the actual balance is £68,415.94, so I'm already 6p ahead :rotfl:. Go me :j

financialbliss

Evening all... :hello:

New challengers.
Just allocated the following numbers for today:

181. zavarony. Objective needed.
182. Moneybag. Objective needed.
183. jsbarrett. Reduce my mortgage from £106,089 to £66,089.

I'll PM you all shortly.

Balance updates.
Got quite a few balance updates to do. Some via PM, some via Google docs update form and some to pick out from this thread. I'll try and get them all done shortly. Thanks for your updates - keep 'em coming.

Preferred balance update method is via the Google form: here - this puts them all in one place and I don't have to go looking for them!

Thanks,
FB.

taxi73

ok will do that tomorrow..

taka

I've just filled in the google form... I'm setting myself the challenge of reducing my mortgage to £33,500 by the end of the challenge (currently ~£44,961.49). :eek:

Good luck everyone! :j :T

gerbiljo

weezl74...

...Excellent thank you! seems sometimes things work in our favour!

tiddles

Hi everyone.

Today I phoned our mortgage provider for a balance update, and my husband and I owe £75755, which we intend to completely pay off within 3 years. We have 2 endowments which we intend to put towards this: the first matures in February 2010, and the second in late 2012, and those should total £25000 if we're lucky. We need to make overpayments of £500+ per month if we are to succeed in this challenge, so wish us luck - it's going to be tough!

I can't wait to be mortgage-free!

Good luck to you all!

SuiDreams

No. 32 checking I have phoned the mortgage company for an update on my Balance and it currently stands at £22,400, so my orginal estimate was only £100 out. I will send an update via google docs tonight (as I can not access this from work). My aim is to pay my mortgage off in 3 years, this will initially by done by overpayments and savings (as I am limited on over payments for next two years). I will hopefully be able to start gradually increasing overpayments after christmas. Savings will be counted as an increase in savings from the start of the challenge (pre-challenge savings will not be included in my totals). Good luck every one.

tiddles

Further to my previous post:

I've just put our mortgage figures into the egg mortgage calculator and discovered that we need to overpay by £750 per month rather than the £500 I'd expected. This will make things pretty tight, but I'm still going to have a good go at it.

I've been working out our budgets for the whole of the first year of the challenge, beginning on 12/12/09, and now I can't wait to start!

Tiddles