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

tjp70

And they're off :T

I also have updated the form to rectify my starting figure. I am looking forward to seeing how we all get on.

tjp70

tattycath

I've updated my form with a new start figure-and I've pledged to knock an extra 800 quid off my end figure too
This one's a bit of a tall order I'm hoping to pay off over 25K by 12-12-15.
Any hints or tips gratefully received.

ajmoney

I have just logged in to give a correct figure for starting the challenge. I'm now off to play with some numbers and work out my annual targets to keep me on track.

Calfuray

I *think* I've signed up, hope I did it right!

EDIT:

Take it back, did it wrong. I updated the amount I want to get to through OPs, forgetting that I'll also be paying my normal monthly amount too! How do I update my target value?

financialbliss

Calfuray wrote: »

I *think* I've signed up, hope I did it right!

EDIT:

Take it back, did it wrong. I updated the amount I want to get to through OPs, forgetting that I'll also be paying my normal monthly amount too! How do I update my target value?

Calfuray - you can either submit the form again, or PM me with revised totals. Form is preferable, but I am getting the occasional PM.

Was going to look at the outstanding updates now for this challenge, but then I've looked at the time and I'm going to turn in instead. Probably poor form on day one, but I need sleep :eek:

Will allocate or update everyone tomorrow evening...

FB.

YoungBusinessman

FB - thanks for running this, i will join!!


Get keys on Friday, £100,000 mortgage(between me and gf) on a purchase price of £112,000...

5 year fix at £648 a month repayments...we are both 21 and its a 20 year term. We are not putting down a figure to aim for, just going with "as much as possible"....

Wouldnt be suprised if we can get it down to under £70,000...which carrying on at that overpaying rate would clear the whole thing in 8 years and 10 months....right before we turn 30!!!

We have a house move planned for the end of this 5 year fix so need 3 years paying it down, 2 years saving for next place then remortgaging as a BTL on a 50% (hopefully less) LTV!!

Will more than likely start own diary but will post on here!! Great support on these kind of threads!

666paw

Good luck to everyone, challenge starts today.

666.

Calfuray

financialbliss wrote: »

Calfuray - you can either submit the form again, or PM me with revised totals. Form is preferable, but I am getting the occasional PM.

Was going to look at the outstanding updates now for this challenge, but then I've looked at the time and I'm going to turn in instead. Probably poor form on day one, but I need sleep :eek:

Will allocate or update everyone tomorrow evening...

FB.

Thanks, I've resent the form and left a note in the comments box at the end to say this is the updated one.

Thanks for all this you're doing!

uzubairu

VoucherMan wrote: »

Thanks.

Should be interesting as I'm planning a double assault on the finances.

2013 I want to build up the savings, though still making some overpayments. Then starting 2014 I should be putting everything towards the mortgage.

This does mean that I'll probably spend the first year in the red, or at best yellow. But hopefully it will all come together towards the end.

Do both at the same time.

I've got 2 numbers (19 and 91), one with a mortgage target and one with a savings target.

FB, after posting in th MFiT-T2 thread, I need to revise my starting balance to £13,157.

VoucherMan

uzubairu wrote: »

Do both at the same time.

Wouldn't help much for me.

Part 1 (build up emergency fund) will hopefully be complete in 2013.

Part 2 (additional overpayments) won't start until 2014.

The way it is now should be more of a challenge for me to get back into the green on the quarterly charts.

I've come across a savings thread elsewhere on the forums which I may join for the year though.




P.S. We're still signing up for the one year challenge for anyone who's interested (A few of you already joined)