Mortgage Free in Three Yrs

tattycath

Hi everyone. I was wondering where the list for the 3 year mortgage challenge was. Unfortunately I did not make a copy. However, I did join the challenge in september/October?? I think I am number 124 but not 100% sure.
We do not get a mortgage statement until january 2008 so I will have to wait until then to update how we are doing. Lots going on at the moment!!! So busy, I have to snatch time to read the threads-gotta go, tons to do!!!!!!! Continued good luck to everybody!!!

comping_cat

Well Done To The Techies - The Missing Pages Are Back!!!!

Karmacat

Ooh! Researching new areas is going to make sense again! Fantastic! Well done techies! And thanks to you all.

Miss_Pink_3

tattycath wrote: »

Hi everyone. I was wondering where the list for the 3 year mortgage challenge was. Unfortunately I did not make a copy. However, I did join the challenge in september/October?? I think I am number 124 but not 100% sure.
We do not get a mortgage statement until january 2008 so I will have to wait until then to update how we are doing. Lots going on at the moment!!! So busy, I have to snatch time to read the threads-gotta go, tons to do!!!!!!! Continued good luck to everybody!!!

Yeah, I was wondering too. Think Im around that number too, something like 123ish.

cazmanian_minx

For DD and others who've had their fingers a bit singed by Northern Rock - have a look at this:

http://www.fool.co.uk/Investing/guides/The-High-Yield-Portfolio.aspx

I'm about to open a SIPP and this is the investment strategy I'm going to be using. Simple to understand and it's been tested over 6 years now and has outperformed the FTSE.

As always, DYOR, but this makes a lot of sense to me.

Caz

Edited to add: I did exactly what you've done with Northern Rock with Marconi but on a smaller scale - bought £120-worth when they were 8p each, saw them double to 16p over the next week, should have sold but hung on and lost the lot!

mojo_jojo

hi all,

I haven't been able to put additional funds into my mortgage recently due to the fact that I got married recently and thus spent way too much money. As a result I now have a £2k debt on my credit card. I think it's best to try and pay that off first. Hope to do this by Xmas. The question is, should I sell some of my shares to pay off the debt or just use as much of my salary as possible to clear it and wait for my shares to go back up in value (which I was really keeping to use for emergencies only or when I retire!)

FreedomGirl

Hi,

Just checked the first couple of posts on the "restored" thread and I don't think we're completely out of the woods yet. Only goes up to MFiT #79.

TallGirl - I've saved the image of your spreadsheet (jpg) which goes up to #118, so that helps up to there. Let me know if you want it

Hope this helps

FG

TallGirl

I have added the October spreadsheet to the front page and here it is again. Next update is mid January so hopefully we can get the new members to update us by then.

Remember the ones in black have not updated for a while. Blue were up to date on October.

Dithering_Dad

cazmanian_minx wrote: »

For DD and others who've had their fingers a bit singed by Northern Rock - have a look at this:

http://www.fool.co.uk/Investing/guides/The-High-Yield-Portfolio.aspx

I'm about to open a SIPP and this is the investment strategy I'm going to be using. Simple to understand and it's been tested over 6 years now and has outperformed the FTSE.

As always, DYOR, but this makes a lot of sense to me.

Caz

Edited to add: I did exactly what you've done with Northern Rock with Marconi but on a smaller scale - bought £120-worth when they were 8p each, saw them double to 16p over the next week, should have sold but hung on and lost the lot!

This is what I was trying to do - I bailed on NR before I lost too much and went with Alliance & leicester, HBOS, BP, AstraZeneca and Tate & Lyle. All of which pay good dividends and all of which have divebombed!!

I think if I ever invest in the stockmarket again via ISAs (once my mortgage is paid off) I'll invest in funds rather than individual shares - just like I do with my pension. Investing in shares is a mugs game - you pay £10 - £15 in commission and 0.5% in stamp duty, you are anything up to 20 mins behind the real market value and by the time you hear any bad news about the companies you bought shares in, the stockmarket bioys have already heard and got rid of their shares. It's like playing roulette where it's rigged in the house's favour!! :mad: . As soon as my shares recover I'm clsing down the ISA and goign back to 100% mortgage paydown - with the credit squeeze, mortgage rates are only going to go up - regardless of what the BoE do with the base rates.

My pension is doing well, though - I have a nice portfolio of 6 funds. I'd suggest you look at funds via Hargreaves Landsdown as they refund the commission.

OverlandLandy

Dithering_Dad wrote: »

This is what I was trying to do - I bailed on NR before I lost too much and went with Alliance & leicester, HBOS, BP, AstraZeneca and Tate & Lyle. All of which pay good dividends and all of which have divebombed!!

I think if I ever invest in the stockmarket again via ISAs (once my mortgage is paid off) I'll invest in funds rather than individual shares - just like I do with my pension. Investing in shares is a mugs game - you pay £10 - £15 in commission and 0.5% in stamp duty, you are anything up to 20 mins behind the real market value and by the time you hear any bad news about the companies you bought shares in, the stockmarket bioys have already heard and got rid of their shares. It's like playing roulette where it's rigged in the house's favour!! :mad: . As soon as my shares recover I'm clsing down the ISA and goign back to 100% mortgage paydown - with the credit squeeze, mortgage rates are only going to go up - regardless of what the BoE do with the base rates.

My pension is doing well, though - I have a nice portfolio of 6 funds. I'd suggest you look at funds via Hargreaves Landsdown as they refund the commission.

Well said - I'm going to do the same.
I'm trying to remain upbeat today - but if you held shares and have seen their value decline from £24,000 to £1,600. Its my own fault for not selling at a high and for believing the Governments lies about supporting NR!

DD- watch your pension - if its market linked it could be down as well - they often only review/publish the value every year.