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

Lomcevak

Doing the sums for the first challenge quarter, my mortgage has dropped by £3210.42, or 8.83% of the challenge total (£186k to £150k). So think i'm just about 'green'

I_want_a_baby

Hi everyone!

Well done to all for your progress with this challenge :j

I have just entered my update with the form on the first page (I hope I did it right!).

Mortgage start figure at 12/12/12 was £97500.
Balance is now £96126.
We have managed to overpay £415.60 in 3 months.
We have some money put by to overpay but I have decided to only 'report' actual overpayments so this hopefully will feature in the next quarter.

We have saved £692 in interest with these overpayments alone .

Very pleased with our progress especially as I am a stay at home mum and my husband is on a very average income.

Looking forward to seeing my progress on the chart and updating further next quarter.

Thanks

Stacey

egon

Just updated our figure on the update form. For this year, we will be way in front. It all changes next year. We are saving up, to update our ground floor (kitchen etc), as we have an old house.

Egon

beachie

Just updated. I was lucky in this quarter getting sent some money so am in the green. Unfortunately without that amount I would have been in the Yellow!

The next few months will be manageable to get to the target (£78'602.73) but the 3 after that are when it will start getting tough.

tattycath

Not sure but think I might be in the yellow-hoping my calculations are a bit out.
I'll update just before the deadline so I can have a play with the figures and see if I can squeeze another payment out before then.

spidystrider

I'm just about to update with a total of £67,200. I'm not sure if that's good enough to get me in the green, but I'm quite happy as I'm saving for my holiday too.

Mortgagefreeby50

Forgive me if this has already been mentioned, but when I send my form, is the figure the amount overpaid, or my current mortgage balance?

HelenDaveKids

actual morgage amount.

Mortgagefreeby50

Thank you! I'll ring for my balance after the weekend and update

Calfuray

I have updated by sending the form, I know my daily interest so have added up how much it will be on 12th and sent that! Looking forward to see what colour my chart ends up!