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

trix-a-belle

If you think it's wrong Helen please can you put a form through for records & I'll revise it

brizzledfw

Just phoned bank and have been given precise assessment of where I am ..£168k...roll on December when I should be sub £165k!!

FreedomGirl

Hi guys,


Well, the last post was over 3 months ago, just after I got made redundant. It's taken this long to get another job (starting mid November). Feel sooooo relieved - thank goodness we are MF otherwise it would have been much tougher.


Thanks to Trix for taking things on for MFiT3 - I promise I will definitely get the 12/12/15 update on time. Looks like I will miss my 150% target but I have a transfer value of £13919.63 from the last job (is in cash so am not expecting too much instability) to add to the pot.


I'm definitely on for an MFiT-4 challenge if whoever takes it on doesn't mind savers coming in to the party (and always re-explaining how to enter the savers numbers into the MFiT spreadsheet - I still haven't got it )


FG


P.S. The new job has a defined benefit pension scheme. Added years/salary sacrifice here I come !

Twiggy_34

We've just finished compiling all the supporting documentation needed to transfer our mortgage to FD. Assuming all goes well, we'll be exiting a 5 year fix early to take advantage of the lower interest rates, also a 5 year fix, and our minimum monthly repayment will be reducing by £73 a month. We're allowed to make unlimited overpayments so intend to add that sum to the existing overpayments we're already making, meaning we'll be making regular overpayments of £140 every month. I'm looking forward to joining the next MFIT challenge and seeing how much of a dent we can make with the increased overpayment flexibility!

skaps

Sorry realised I have not updated since March 2015!

Have submitted an update for September 2015 178,369.89 GBP

Have reached my target but will still go ahead with my overpayments.

Thanks all.

I also would be interested in joining another 3 year challenge.

vlad

After 34 years of being mortgage slaves we we became mortgage free as of the 3rd november :j:T:D
chuffed to bits

uropachild

Hey all! I have just filled out an update form, my first one since I signed up. I remember I kept checking back for months when I first joined and can't remember being added so I gave it up as a bad job. Guess I must have been added at some point after that!!

So I have paid almost £22,000 off our mortgage in the last three years. Still a fair way from my target of £35,000 but I'm pleased with that. We're over paying by £300 a month, which is manageable for us.

trix-a-belle

Well done Vlad! Congratulations, I would say put an update form through for the challenge but it appears you haven't been part of MFiT T3.

Uropachild congrats & thanks I've updated my sheet with your figures.

We are now into the last push for this challenge!!!! 1 month to go!

I had intended to be mortgage free after this challenge but I'm looking at houses & there is going to be a cost to change although the right one hasn't appeared yet so I am looking at remortgaging this house to give me the budget for the next. The sheets are set up ready for T4 but won't get anything going until after the festive season (just in case anyone tries to register on, as it appears someone has tried to jump right in at the end of T3 possibly not realising its the end )

Trix

Wombatchops

Congratulations Vlad. I would love to join the T4 challenge trix-a-belle. Are we waiting until you give the greenlight to join? Have I understood you correctly?

trix-a-belle

Wombatchops wrote: »

Congratulations Vlad. I would love to join the T4 challenge trix-a-belle. Are we waiting until you give the greenlight to join? Have I understood you correctly?

Yes if FB doesn't return I will set up a new thread for T4 after T3 has concluded.
I am proposing amending the submissions slightly to the 25th of the month & starting in January so reporting months would be Jan, April, July, Oct (running 2016-2019).
I'm also intending to have VoucherMan & maybe another 1 as backups on the google sheet as life often has a habit of throwing the unexpected up at the most awkward times.

Happy to listen to peoples thoughts