Mortgagenomore and his 7 Years to mortgagenomore 2010-2017

mortgagenomore_2

Have read so many blogs on here starting about a year ago which led me to daily clicks, and overpaying on my mortgage as much as i possibly could, this site is as some say very addictive.
My inspirations include tallgirl, whom i feel as though i know well without even knowing and tesco points addict, Eagerlearner for her daily clicks input and FinancialBliss who got me hooked on overpaying to get rid of the dreaded mortgage, i am now signed up to the 3 year challenge which will see me (fingers crossed) from £33990 at the starting block on 12/12/09 and finishing approx £18990 on 12/12/12 this works out at £5000 per year to reduce mortgage by, then i will be finalising with a 4 year challenge thus 12/12/2017 i shall be mortgagenomore not just in name!

I just wanted to say to all on here you all should all be so proud of yourselves its the small amounts that end up making all the difference and you have all inspired me in some way!

Happy New Year and good luck in 2010 in clearing all our debts together!

moneysavermum_2

I have read peoples threads who say they dont restrict their lifestyle to overpay their mortgage. I disagree its hard to earn money so what better way to enrich your life than to secure your home by paying off your mortgage. I have cancelled my phone, broadband, no longer have expensive haircuts all the time. I still do expensive things ie haircuts etc but not often. I am like the above just desperately want to be mortgage free. My mortgage payment is £495 I pay £800 on a 2.5% mortgage. I am tempted to put this up to £1000 thereby reducing my mortgage to 10 years. Im sure i could do this if i cut back other things and was extra careful.

chirpchirp

Good luck with plans to be mortgage free in 2017. I have no idea of when I can hope to be mortgage free. It will all depend on the interest rates for me as I'm on a tracker. If things pootled along as they are doing now, and taking into account pay rises etc there is a possibility I could be mortgage free at about the same time as you. However, that is very unlikely. The past few years have shown me that anything can happen at any point.

wantabetterlife

Hi mortgagenomore, your very welcome to the boards. I am also on the MFiT-T2 challenge so will be watching your progress. Goodluck:j:j

financialbliss

Hi MNM,
Thanks for the acknowledgement. I'd agree with nje24 - it's hard to pay off your mortgage early without dedication and effort.

We're all brainwashed by the media, that we need the latest gadgets, new cars every 2 years, latest mobile phones, mobile broadband, 2 foreign holidays a year, private schools for the kids, etc. etc.

As you all may have realised, I'm hoping that I pay the mortgage off completely in 3 years at a push - perhaps 4, who knows right now and this will free up a massive amount of cash each month which we can then use to actually enjoy life to the full.

Short term pain for a long term gain

Oh - your entry in the MFiT-T2 challenge now links back to her too.

FB.

dimbo61

Well I am half way there after 4 years and because I now pay even less interest I hope to be MF in 2/3 years.
See to many people in old age with little income to want to retire into poverty!

mortgagenomore_2

Thats my January paid and rounded off to £33500 which is above my monthly predictions, just wondering if anyone is starting a 7 year MFW challenge!;)

setmefree2

Good Luck with your MF journey.

meaniegreenie

my repayment is 1.05% offset tracker lifetime is it worth me overypaying now compared to when say interest rate goes up ie do we pay off more capital as opposed to interest if rate low? confused.com???:D

mortgagenomore_2

Now clocking in at £33200 getting there had pencilled in 5k per year and so far (in 16 days) have managed £1800 so only £3200 to go this year, god this is so addicted but i would imagine lovely feeling the day the mortgage reaches a bit 0, 7 years and counting!:T

mortgagenomore_2

....... addictive & big god my typing is bad..... !!!!