The Mortgage Free in Three - Take 3 challenge (MFiT-T3)

HelenDaveKids

Me too.:j

Thank you fb

icontinuetodream

very much in the red but hope to be in the green by the next update!!

brizzledfw

Thanks FB, sorry last few weeks/months have been tricky

Firmly in the red but now heading in the right direction....watch me go folks

ajmoney

Oh dear, we are the halfway point and it is clear that I will not complete what I set out to do (my own spreadsheet shows we would be a year away from £100k). I think we will be £8k away and that is before the prospect of the interest rates going up soon. If we can be under £110k I will be happy and will also find a way of predicting a more realistic challenge for the following 3 years!

pavlovs_dog

missed this, sorry for late submission. Have reached £112.5k, which I think puts me into the green for the first time :j

666paw

Morning all, #75 here

Hope i'm not too late submitting my total today, things have run away from me recently and I just seem to be getting in a right muddle with things.

I'm hoping I'm still in the amber sector as o/h has a new job which whilst paying a lot more than he was previously on does mean he now works away from home so effectively has 3 lots of accomodation to pay for. This has hampered the overpayments slightly as trying to get things set up for his away accomodation.

Also my 0% deals are slowly running out on my cards so I'm trying to get them paid off as quickly as possible so less going into the overpayment pot.

Take care
666

SusanneCape

FinancialBliss, many thanks for your hard work and I am sorry to hear that you are having a hard time. I hope things resolve soon for you.

In the meantime, I am optimistic that we will have at least another 2 - 3 updates before a very modest interest rate hike.

All the best,

FreedomGirl

Hi,


Just checked the SIPP balance and it is at £84425.29. Just over 15k to go ! Off to update properly on the chart - good to see you back FB.


Also have a couple of job offers which I will need to make my mind up on this week...


FG

Kwaker_Knacker

Hi all,

Ain't been on for a good while (sorry about that), and plenty has happened since I was last here.

For anyone who doesn't know me, or has forgotten me (haha), a quick refresh. I signed up to the MFiT challenge at no. 65. I wanted to totally clear the 35k I had left on my mortgage at that time. Thanks to a couple of share schemes we were involved in thru my wife's job, we actually managed to pay the whole thing off in October last year.

My dad was then diagnosed with aggressive cancer of the lung, lymph nodes and diaphragm in November, so me, my folks and my sister decided, because the place they'd lived in for 41 years had gone downhill big time (bought their council house about 7 years ago when the place was much better), we'd sell their house and club together to buy them a bungalow.

So, I borrowed 71k against my place, my sis did similar and with the profit of the sale of my folks place, we got them the said bungalow. Result. My dad is a lot happier where they are now, but the cancer has now spread to his liver.

So I've been back in the mortgage game for 2 months now. The crazy thing is, in the 7 or so months we were mortgage free, we somehow never managed to save a bean. Unreal. Then 3 weeks ago, due to unbearable pressure at work, my wife quit her job (it was classed as leaving by mutual consent, I think she thinks she's a football manager haha). She has a part time job lined up in a few weeks, but not to the same pay she was on, not that she was on a fortune anyway, but every little helps.

So I'm now in for about 70.5k, on less money and a bigger mortgage than when I first bought my house :eek:. Too late to rejoin the MFiT this time round, not that I could overpay anything at the minute anyway, but just thought I'd post up to say I'm back on board and wishing you guys all the best in your quests.

Take it from me, it can be done folks. Then when you've done it, go back in for more than you had in the first place haha. :rotfl:

K_K

gallygirl

Sorry to hear about your dad KK, but how lovely you're able to help out - all thanks to you paying off your mortgage :T. Hope your wife enjoys her new job and it's less stressful.