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

wantabetterlife

Hi FB i am challenger no 17... can i change my starting figure to £132817. Thanks very much. Wantabetterlife

black_taxi_2

FB

here's another good site for comparing saving rates

http://www.compareandsave.com/dealfinder/savings-accounts/

Suffolk_lass

Please can I join?

I have submitted the form and we are aiming to clear a lump off the mortgage; reducing from £167,648 to £115,000 but in background we have a son in first year at uni and an old house that needs stuff done. We have halved our spending this year and cleared everything except the mortgage. Hoping we can hit this before we retire in around 6-8 years time.

Thanks
SL

SusanneCape

financialbliss wrote: »

Challenge updates:
71. SusanneCape. Reduce my mortgage from £125,900 to £80,000.

Thank you very much, much obliged.:j

Best regards,

tattycath

I've just made my final update for mortgagefreein3-take2. I've managed to pay £200 over my target. I have already set my target for this challenge so do I leave it as it is or reduce the start figure by £200? and if I reduce it do I have to update via google docs please? TIA x

black_taxi_2

Tattycath--challenge doesn't start till 12th

Just tell FB your new balance an new number 106

I will take your number 4---swap

ElusiveLucy

#50 here, I have done an update to clear my £43790 mortgage. It is going to be a stretch goal, but I will give it a go!

Looking forward to the new challenge.

FlashBarry

FB: T3#14 here - I've been busy overpaying, so please could you update my starting Mortgage from £97k to £88,100? My objective is still to completely clear it. :A

I will figure out the forms you have set up, but there is a risk I won't figure it out until after the challenge has started!

PrincessLou

Just after some advice - how do people manage their overpayments when they are limited to an amount they are allowed to pay?
We have a HSBC mortgage and for the next 20 months we are only allowed to overpay up to 20% of our regular monthly payment. Should i just stick the rest of what i would have overpaid on top of that into a savings account and at the end of the 20 months make one big payment?

I'm sure lots of other people are in this situation - so how are you dealing with it?

brizzledfw

Hi Princess..yes others can be more specific but yes thats what most people do..open an ISA maybe (tax free as you know) or a good saving account (precious few of them these days but at least you are earning some interest AND getting into the habit of making larger OPs

best of luck