Mortgage Free in Three Yrs

firesidemaid

my aim when mortgage-free is similar to that of others on here.

i would like the choice to have a less stressful and less well paid job (knowing that i will also have a decent pension fund by that time also).

i would also like more time at home to do all those things that never get done. i may end up not enjoying those things i thought i would! but at least i will have the choice!

ps. am £170 nearer to that goal today......

Karmacat

~daisy~ wrote: »

our plan once we are mortgage free is also to get another one ! - but to finance a holiday home in portugal and we would hope to pay that off as soon as possible also

thats the plan anyway

My sister's just done that! They bought a hamlet in France for £100,000, and they did it exactly by re-mortgaging their own property, since French mortgages are harder to overpay, which they have every intention of doing. Go for the dream!

molit

Hi,

Is it too late to join in - no way of getting clear in 3 years, but would hope to reduce my 96000 by quite a bit. I've only just come across this thread so havent had a chance to read everything, but what do I need to do?

AnW'sMum

Hi molit, have a look at the forst post on page 1 of this thread, it should give you all the details you need. Essentially you need to decide what your target is for the whole of the challenge and then PM Dithering Dad with the amount of your mortgage as at 1st April and how much you want to reduce it by. DD will then give you a quest number which you need to PM Tallgirl with along with the above details plus the outstanding mortgage to date.

Hope that all makes sense, good luck and welcome aboard

Dithering_Dad

Phew, just caught up on the thread after having a week's holiday with the family in the Canary Islands. It was a lovely break and great fun spending so much time with Mrs Dither and the Ditherettes.

I've added some new people to the list, so welcome to the newbies! Please check the first post on this thread for your details. If I have anything wrong (usually gender :rolleyes:) please post/pm me. If you want to be added to the list, please PM me with your mortgage amount as it stands now and what you want it to be at the end of the MFiT quest.

bails

Hi DD

I would like to join the thread but I'm not sure how much to aim for yet - Dad is just checking out the mortgage details and then when I've made a calculation I'll PM you (prob not til October now as about to go on hol for month).

Good luck to everyone in the meantime, I'm looking forward to giving this a go!

cupid_s

When we pay off our mortgage, we will be able to afford to live in our current house (or one similar) and have children as we will only need one of us to be working. And then one of us will be able to stay at home with the children for as long as we want. Even as it stands, with the overpayments we have made so far, we could extend the mortgage term back to the original 25 years, reduce our monthly payments accordingly and just afford to live on one wage (when DH actually gets a job that is!) with having a couple of children to look after.

When the children go to school, I'll get a job and we'll get a bigger better house and start again with a new mortgage to pay off!

Move_To_Portugal

We're in :

MFi3 Target Move To Portugal - Reduce £135,850 mortgage to £85,850

Target to pay off complete mortgage by July 2012:eek:

Thank you DD :A

=kev=

well i'm amazed. good luck to all.

i'd like to pay of my mortgage but at the moment im going to work on paying my debts off first, then we will take it from there

angelavdavis

=kev= wrote: »

well i'm amazed. good luck to all.

i'd like to pay of my mortgage but at the moment im going to work on paying my debts off first, then we will take it from there

Good luck Kev,

I did exactly that - paid off the debts first, am getting married in two weeks' time and am concentrating big-time on the mortgage after that!!!