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

spidystrider

Just about to do my final update for the year. My total now stands at £50, 627. I hope everyone is doing well and are happy with their results

SusanneCape

Good afternoon,

I now have my mortgage statement and can declare my new balance as £109,265.57, some £16,6k less than last time this year. I have updated the form and am very happy, to say the least :beer:!

Thank you everyone for all your hard work and for keeping us on track.

Merry Christmas to all,

ShelleyC_2

Glad to see all the great updates. I've nearly made my three year savings target in year one :j Helped a lot by a couple of my fixed rate saving accounts maturing. Bad news is the interest income on the money now is p@ants!

Have seen a truly beautiful house but more money than I wanted to spend. I keep pouring over savings spreadsheet & mortgage calculating App to see if I can make it work. Could be joining MFW in the traditional sense soon

Lomcevak

Number 126 reporting in. As of today the mortgage stands at £178,346; so £8022 down since the start of the MFiT-T3 challenge, and i'm 22.1% of the way there.

I'm well down on where I should be in the challenge after remortgaging in the summer and the early redemption charge that came with it, but slowly catching up month on month and in the end it is all worth it. Still at least 12 month left 'in the red' though for this one

gallygirl

No. 8 reporting for duty .

Update sent in, a massive 25.7k paid in past year :T.

Shame it's not the even more massive 32.2k target :rotfl:.

All fine though as will pick up speed in last year of challenge :j.

Well done everyone, can't wait to see the update :beer:.

SuperSecretSquirrel

Hello MFiTers!

My December standard payment has just gone out, and on Thursday I'll call for an exact balance and will make a small OP (~£90) to take our balance down to £64,300 (challenger #47) December being December means I can't easily find the extra £300 for a proper round number figure, so this will have to do for now!

12/12/12 balance: £81,055
12/12/13 balance: £64,300
total balance reduction in first year of challenge = £16,755

Very proud of that!!

There will be one more big OP later this month, pretty much maxing out our annual 10% fee free OP allowance, and taking us sub-64k (not far off the original MFiT3 target of 60k!), but that will form part of next quarter's figures.

Have joined the MFW 2014 thread to help keep motivated next year, smaller OP's are on the horizon so seems like a good idea. Hope to see some of you on there

Thanks fb for running the challenge :beer:

akamustang

Just gave my update, I'm getting quite behind target (-21.36%), but this is deliberate. Currently getting better rates in savings than paying on mortgage.

March update will also be pretty negative I suspect, but re-mortgage is due up before June and I'm planning on dropping to the next LTV category, so this should see a nice lump paid off.

ajmoney

I have just sent through my update. Even though I thought I had set a realistic target I think I will be behind for sometime to come!

icontinuetodream

docs updated....current balance stands at £42716 not as good as I would like to see it but infinitely better than it would have been had I not joined this challenge!!:D Thanks FB!!

I will be in the red for a while now as I am currently unemployed...however, I have the next eight quarters to play catch up and will do what I can to reach the end on target!!;)

BlueDaisy

Is it too late to join this challenge?
Don't want to wait 2 years til the next one