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

norfolkdream

Thanks Trix.
Update for chart 11 done. I am so far off the mark it makes me cry over 5k short and not looking to get any better. I wanted to be MF by end of the year but will be about 6k short booo!

Lomcevak

Not quite sure how we're doing updates now, but an update from me anyway - i'm now at £139,922.60 so down a touch under £46.5k since the start of the challenge and a bit over £10k past my original £150k target.

Case of plodding downwards really - at this rate I reckon i've got about six more years to go, which will finish the mortgage ten years early. So sometime towards the end of MFiT-T5!!

Twiggy_34

I've just submitted my latest update. We successfully exceeded the target I set in our last update and instead of reducing the debt by 8,000, we've reduced it by 9,211.

This might be my last submission for this challenge as we're about to remortgage and release £20k equity for a BTL purchase (to secure a better LTV for the BTL mortgage rate). Thanks for letting me participate though, it's been great seeing our overall debt decrease and and also following everyone else's progress.

If we successfully secure the new residential mortgage we want, we'll be allowed unlimited overpayments during the fixed term (compared to the 20% cap on overpayments permitted with our existing mortgage) so I look forward to joining the next challenge (albeit with increased debt) and seeing the progress we make with additional overpayments!

Firegirl

Oh I like the look of this challenge and I'll def join if there's another one set up! I'm finding the long term chipping away at the massive mortgage I have makes it hard to stay focused!

brizzledfw

Thanks trix....I will try and call bank tomorrow to see if I can get some numbers before the deadline..otherwise can you treat that as my entry for form 11...? Thanks so much

only 1 more..my how time has flown!! Like firegirl says I am keen to join T4 and kick this into touch..for good!!

HelenDaveKids

How are we updating please? I've submitted my form. I'm now 11,000. I'm number 38.

trix-a-belle

@ Helen Dave kids
Through the usual form Helen I'll do some more inputting today at some point as I'm out all day tomorrow

@ Brizzle
Thank you, doesnt need to be bang on the deadline day I'm out all day tomorrow & there are always some updates after the chart day so just when you can is fine

I've not heard from FB still so will plug into my copy I've had running and post a link for chart 11 next week, updates through his form please
Hoping he is OK & able to get back for chart 12 finals & statistics.

@ Norfolk dream & Lomcevak
You are both doing so well! Things may still be a little further off than your like but that happens, you're still well & truely on the case & know what needs to be done! You will get there & you can do it!

trix-a-belle

Updates in up to HelenDaveKids at 10pm last night

@Moneybag I've presumed you are reporting what you have left to save rather than how much you have saved so far, if I've assumed wrong please let me know

ElusiveLucy

I've just added my update and I will be behind schedule as I have recently stopped OPing to build up this year's ISA.

#50 Balance £7,518.30.....the end is in sight! Seems like it has been going on forever, but will be paid off within 15 years of taking the mortgage out. Never envisaged being in this position when I took the mortgage out originally!

HelenDaveKids

trix-a-belle wrote: »

Updates in up to HelenDaveKids at 10pm last night

@Moneybag I've presumed you are reporting what you have left to save rather than how much you have saved so far, if I've assumed wrong please let me know

Thanks trix-a-belle.