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

JoeyGrey

Just checking in for the March chart.


Happy to say that although my mortgage currently stands at £12,198, I have managed to save £12,637 in "offset" savings (i.e. ISA's and regular savers) so far. This means that I'm mortgage neutral (well, actually £439 in credit ) for the first time in a long time and I'm very, very happy about it.


My circumstances have changed drastically since I started this challenge as I'm now planning to buy a house with my new partner. But that means that my plans to convert to a saving challenge at this point has even more importance as I'd like to make sure that our joint mortgage is as low as possible.


I hope it's okay to change my challenge partway through Financial Bliss. If so, could you put me down to save £40,000 by Dec 2015? My starting point is £439.


And many thanks for the challenge - it was the final piece of motivation I needed to get me to this point.

FreedomGirl

Hi,


Can't believe have only got 10 days to go until the next report. Am feeling a bit blah because I have not managed to save any more since the end of Dec. But on the other hand, I did have a 4k travel card to pay, plus we went on holiday...


But, need a MSE morale boost...want to make the most of the March pay cheque and also stop spending like a spendthrift. Especially as might get made redundant soon...It's stressful being in that situation, which isn't helping the spending.


The good news is that I have got emergency funds and no mortgage to worry about, so there isn't a risk of being homeless. But...


A slightly despondent FG...

pavlovs_dog

I've done my form now, so I don't forget next weekend. By my calculations I'm £163 away from being green (down from £800 odd). Gaining ground

Gizmo247

Half way there for me! Exactly 50% of my goal achieved already :-)

NB: a bit contrived though - I had to transfer an extra £7.82 into the mortgage account to hit the target.

black_taxi_2

march quarterly update

balance £7507

ElusiveLucy

#50 with a balance reported in already of £27,271.97. Not sure if this is the correct figure as I can't get into my online Nationwide account at the moment. Would be interested to know if anyone else has the same problem.

Currently if I carry on at this rate I am going to be £3600 short of my target in Dec15 so I need to pull my finger out. The last few months have been very expensive with Christmas/holiday/large vets' bills/new fence and new kitchen, so I have done well to maintain £500/month OP.

Lomcevak

Number 126 reporting in again. As of today the mortgage stands at £174,818; so £11,551 down since the start of the MFiT-T3 challenge, and i'm 31.76% of the way there. Stuck in the red as expected, but slowly catching up and should at least see yellow by the end of the year

Mini-target is to drop under £170k by the next update (the half-way point!) but may be a touch too far

Calfuray

ElusiveLucy wrote: »

#50 with a balance reported in already of £27,271.97. Not sure if this is the correct figure as I can't get into my online Nationwide account at the moment. Would be interested to know if anyone else has the same problem.

Currently if I carry on at this rate I am going to be £3600 short of my target in Dec15 so I need to pull my finger out. The last few months have been very expensive with Christmas/holiday/large vets' bills/new fence and new kitchen, so I have done well to maintain £500/month OP.

Google Chrome by any chance?
I had to phone as I can't get in, keeps saying there is technical issues. First time I've had bad service from Nationwide, the woman kept going on about putting in my customer number and using card reader but I was explaining that it didn't even get to that page, it had a problem as soon as I clicked 'Log In'. She wasn't getting it.
I tried Safari and it worked there, so try another browser first if you were doing it on Chrome.

#134 here, my balance on 12/03/14 will be £52,656.37. Thank you! :T

BlueDaisy

Have logged my update, I joined this challenge one year late so this is my first update. Have reduced my mortgages to £75009, probably not quite on track but will try harder in future.

Welshlassie

I put my update in yesterday, I've finally got through to DH about increasing our monthly payment and will now be putting at £71 OP every month. It's not going to bring us on track with this challenge by itself, but it's a flipping good start. So update was for £178,860, which is definately in the red, but it's slowly (very slowly) coming down again after plateauing for quite a while.

It came home to him yesterday when we had our finanical review to be told, it was highly unlikely we would be able to remortage in Dec 2015 to another IO and to go onto a repayment our monthly payments would have to double. We are lucky in that we have a lifetime tracker (2.39% + BOE) and the option to move to a fixed with our current provider, but no guarantee that this fixed would be a great rate.

I'm going to continue to throw additional pennys at the mortgage as and when, but not sure how we are going to be able to find lots of additional extra money.

Do I resurrect my diary, it hasn't been touched for about 4 years!! There are so many on here now, not sure it's worth it!