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

TallGirl

Hiya I definitely posted my update via google docs but its not showing so will do it again. Anyone know if it makes a difference doing it from an IPad? I might have done that not the PC.

Well done to everyone it's nice reading all the stories.

PS done it savings stand at £19,232 in case googledocks didn't work.

Twiggy_34

Thanks for updating mine FB. I'm pleasantly surprised to see that I'm already 25% of the way through - I think I'll monitor things a while longer and see how it goes, but at this rate I may have to increase my goal!

Being new to the world of mortgages I expected more of a grind than that; but regardless of my expectations, we were really lucky with our mortgage. We managed to buy a cheap property which we really like and is perfectly adequate for our needs and at a time when interest rates were low (coincidence not intentional). We have a 20 year mortgage and yet we still pay less each month than we used to on rent, and that's even with the overpayments. Overall we're hoping that with the overpayments and saving up a pot alongside the 5 year fixed period, that we will shave at least 5 years off the mortgage term. We have lived there just over a year now, and had to do a lot of work to smarten it up, when we had it revalued a month ago (for curiosities sake) we were told we'd increased the value by £40k! :j

black_taxi_2

tall girl I use iPad

where it says (action to perform)only click on (provide chart update)



https://docs.google.com/spreadsheet/viewform?formkey=dE1iTjMwaFQ3Y3EtOS1GQ0NkUnUwdUE6MQ#gid=0

Gizmo247

Resubmitted my objective and chart updates to use the mortgage account as the measure rather than the offset.

I suddenly realized that the offset measure would diminish the usefulness of the challenge once I reached full offset and shifted tack away from just overpayments.

This challenge is a very useful tool and it seemed a pity not to use it to push for the mortgage to be totally cleared.:T

Better done sooner rather than later.

Oddly this improves my percentage figures. :j Only wish it didn't incur more work for FB. Sorry FB

diadeb

Just updated. Entered the figures the wrong way last time (I think FB changed it for this challenge just to confuse me ) so I have not paid off 88% of my target. I wish! Hopefully he will reverse them round to the correct way and that I have done it correctly this time.

Glad you had a fab holiday FB. It is a long way for a first trip abroad, but hopefully the good memories will overshadow any travelling niggles. We went last year to Florida for the first time when ours were virtually grown up! We so enjoyed it, but won't be rushing to repeat as it's very expensive taking four adults away!

brizzledfw

Thanks FB.

Its bad.. but always good to have a challenge!

Currently on track to pay off 2 CCs this month though so hardly all bad!

Brizzle

Penny_pauper

thanks FB for doing the chart, I am mortified to see that not only are we in the red but we are -24% Always knew this part of the challenge was going to be a wipe out but it is very sobering to see it on the chart. Good luck everyone.
PP

wantabetterlife

Sorry folks I forgot to update yesterday but have done it now. Our balance is 128527 so we are in the red .

gc_bus

Cutting my own hair now - saving ~£10 per visit so I've paid off £100 extra off of my mortgage to represent the net savings on haircuts in the last 12 months. :-) Mortgage now down to £58000

Trying_to_be_good

Hmm - my opening balance seems to have reduced, so I'm currently -61% towards my target and redder than a red thing!

I'll see if I can find a way to sort it out via googledocs...