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

nellis10

Sorry Guys can you remove me from MTinT as my goals have now changed.

Thanks!

cake21

Paid in my unexpected Christmas today bonus, bringing the outstanding balance below £120k :j

nellis10 hope everything is ok

wynnvegas

Happy days - that's another £2,625 knocked off - just the 11 more payments to make and it's mortgage freedom!!

Cheers,

Billy

nellis10

cake21 wrote: »

Paid in my unexpected Christmas today, bringing the outstanding balance below £120k :j

nellis10 hope everything is ok

Everything's cool....just redirecting the money elsewhere for now. :rolleyes:

RoxieW

Hi all - hopefully will be able to OP £500 this month - that's the aim and its a realistic one IF I stick to my budget which is always the sticking point with me! £300 OP comes out automatically so I just need to watch the other £200 doesnt get swallowed up somewhere.

black_taxi_2

first-time ever ive seen all my mortgage trans-actions-on line

the debit interest charges each month gives you plenty of incentive to o/p

i think if most people saw the charges monthly they would have a shock

Kipper

£65.97 OP today would be more but DH's tax bill has to be paid this month so will have to use all spare cash to pay that

shaz_mum_of__2

Floxxie wrote: »

Stoozing used to be a great way of making extra cash, however with the decrease in interest rates and the increase in the charges made by credit card companies to actually do a balance transfer, it isn't now.

There is a thread (or two) about it under the credit card forum and even better www.stoozing.com which should give you all the answers you need (although I haven't used it for a good year or so)

I have stoozed in the past so i get how it works i just wondered if using a cc that allows cash to bank accts transfer would help then pay the money back at a set amount over the year effectively getting an interest free loan and repaying with what i would have OP monthly anyway

My fixed rate mortgage is 5.85% so any transfer fees would still mean a small profit (i think ) and i would have saved a years interest on the balance of mortgage .....does that make sense??

wynnvegas wrote: »

Happy days - that's another £2,625 knocked off - just the 11 more payments to make and it's mortgage freedom!!

Cheers,

Billy

:Twell done :T

Floxxie

shaz, I haven't done stoozing for a while (mortgage interest rate is currently 0.96%) but in theory yes, if your mortgage rate is higher than the cost of transferring, then it should be worth doing - I think there is a calculator on the stoozing site that will help you work it all out.

RoxieW

wow just done the overpayments calculator and if i overpay by £500 a month I'll be mrotgage free in 5yrs as opposed to 20!! Wow! That's all the motivation I need - need to remind myself of that fact from time to time!

One thing I struggle with is groceries. We spend far to much on food because I buy all organic. i do this because we have a family history of cancer and i've read that eating an organic diet can help prevent cancers. Whether this is proven I dont know? I've accepted it as an expenditure I can't help = sort of an investment in health - but I know if I didnt I could overpay by another coupe of hundred a month Oh well. On the bright side - had so many chocs for xmas I'll never have to buy another sweet thing again!