Mortgage Free in Three Yrs

AnW'sMum

Give us a '1', give us a '2' give us a 'free in 3' yeayyyyyyyyyyyyyyy

cupid_s

We have a new thread. How exciting?

I looked at the first post and thought 'DD's made a mistake, my mortgage is more than 66500'. Then I realised it's not and so it's not really very much at all. We should be able to manage that in 3 years (says the jobless girl with the jobless husband).

If we can collectively pay off half a million that would be amazing. It's so nice to be part of a pay off your mortgage collective cos most people I know 'in the real world' think I'm crazy for trying this.

I do need keeping on the straight and narrow though. We had an emergency on saturday which cost us over £100 and there was nothing we could do about that. And now we want new flooring in the lounge (the old stuff is crap and was only ever a temporary measure). Hmmm, flooring/mortgage mortgage/flooring. I just don't know!

John_LG

This looks really interesting, wish I could join in, but just about to start all over again! It's taken 6 years to go from 62.7k to 15k (which we are very proud of), only now to have agreed a 179k mortgage for our 'family' dream house in the next few months. Now if I could pay THAT off in 3, I'd be happy! Informally, I'm going to hope for a term reduction of 25yrs down to 17 years in 3yrs time. That will do for me.
The best of luck to you all, it's amazing what pennies can be scrapped together (and what a difference they make). It sounds small, but I always make our own sandwiches for lunch now, and avoid nipping out to the cob shop. Avoiding buying a can of pop when shopping and waiting to make a cuppa at home. Small things, but it's the kind of patient thing I've learnt through all on this site.
Good luck, again.:money:

Edited: Been on the mortgage calcs and revised target to knock 8yrs off in 3... as our wages are likely to decrease as we add to the family!

comping_cat

Can i join please???

No chance of being able to pay off my mortgage in 3 years, but definatly want to be able to reduce it. At the moment its 82K, and in the 36 months, i would like to aim to pay an extra 7.5K off - so a target of £200 a month.

Oh - im 5ft 8 1/2, so within the height range!!!!

ThankYouAndEnjoy!

Hello

Bless Grand Parents and Aunts!!

My girlfriends Nan and Aunt have just given us £100 each to celebrate Baby Charlies birth - Gonna go straight into his account when we open it.

Looking For Advice re this subject - please help.

groatie_queen

My apologies, but I'm going to have to very reluctantly withdraw from the challenge. At some point in the next year I'm going to have to take a prolonged absence from work for health reasons - had hoped not to, but it is now inevitable, but I'll continue to put what I can spare into the offset till then - will need to live off every penny I can save - paid sick leave lasts just 6 weeks, then it will be statutory sick pay and living off my savings till they are down to income support levels.

I have no doubt that I will lose my job because it will be up to two years before I can work again, and my charity simply cannot leave my post unfilled. It's sad because I am passionate about what I do, but the end result will be worth it, as I am guaranteed a return to health. I will be healthy and able to find something else to do. At the moment I'm not well enough to be fully enjoying life, so I'm looking forward to better times to come.

So, best of luck and perhaps I can join the cheerleader team!

All the best
GQ

AnW'sMum

Sorry to hear about your health probs GQ, I hope everything turns out well for you.

Great to have another cheerleader, thought I might look a bit daft waving pom poms round on my own welcome to the team

TrikerAndBiker

Please can we join the gang???

We've only a relatively small mortgage and would love to pay it off as early as poss. We'd love to say we plan to pay it all off in three years but we need to spend some of our hard earned cash on improving our place and generally keeping it in good nick as we hope to sell up and emigrate to New Zealand (well its either that or the banks of the Menai Straights on Anglesey!!! lol) (ten year plan btw)

Anyways heres what we have

£37200 on interest only & £7400 on repayments.

Term left is just over nine years, would love to reduce this by at least a year leaving us with a couple of clear years before the dream becomes reality! lol

So can we join?? (And I'm just under the height restriction at 5'11" :rotfl: )

Ladybiker

Dithering_Dad

Hi Cat & Lady Biker! I've added you both to the OP.

groatie queen, I'm sorry to hear about your health problems. I've added you as a cheerleader, but also put a challenge of getting back to full health, which I'm hoping will take you much less than 3 years.

gallygirl

Can I join please .

I need to pay off around 5k of 'debt' as OH has contributed more to 'pot' than me & I'm stubborn & independent :rolleyes: .

That WILL be done by 31st Dec, then OH will match me £ for £. But, my commitments are increasing in other areas in Sept :think:. Hmmmmmm......

OK, 2 full years @ 200 a month x 2 of us, £9600. Plus Jan - March 2010 @ 200 a month x 2, £1200. Plus the 5k I'm paying this year, = £15,800. Plus all the extra odds & sods & peefer the mortgage pig & pigsback & quidco :think:.

OK - my detailed financial analysis gives me a target of £20,000 please DD! (Which is pretty pants compared to some of you _pale_)