Mortgage Free in Three Yrs

Move_To_Portugal

Thanks for the advice OL and LM.
I'll send a cheque and a letter every month then not a bacs payment, it looks like I need to! I'll then check every month that it's been done correctly.:D

mtp

Lexxi

Wow, you're all doing so fantastically well!

It's my first visit to the forums tonight and I've decided to sign up and see if I could join with your 3 year challenge?
My mortgage is around 60,000 but I live with my parents and my house is rented out, it's a fixed 3 year which started in Oct 05 with Nationwide. I think I can only pay 500 a month, but that may be 500 in overpayments on top of repayments. I'd like to get the term of the mortgage down, hopefuly by around 10 years. I also have around 500 left to pay on a 0% credit card. I don't earn a set amount my minimum is about 1000 a month, I gave up smoking last year, cut back on drinking when/if I go out and have almost given up shopping though do have an occasional lapse.

Regards

Mushy61

Lexxi wrote: »

Wow, you're all doing so fantastically well!

It's my first visit to the forums tonight and I've decided to sign up and see if I could join with your 3 year challenge?
My mortgage is around 60,000 but I live with my parents and my house is rented out, it's a fixed 3 year which started in Oct 05 with Nationwide. I think I can only pay 500 a month, but that may be 500 in overpayments on top of repayments. I'd like to get the term of the mortgage down, hopefuly by around 10 years. I also have around 500 left to pay on a 0% credit card. I don't earn a set amount my minimum is about 1000 a month, I gave up smoking last year, cut back on drinking when/if I go out and have almost given up shopping though do have an occasional lapse.

Regards

You're correct Lexxi, you can pay £500 on top of your normal payment with a Nationwide fixed mortgage. You can also opt to reduce the term rather than the monthly payments if that is your wish.

TallGirl

Morning All
Thanks for all the updates I have had 11 in the last two weeks looking good for the chart. Also a welcome to all new members please read post 1 and 2 it will tell you everything you need to do. Unfortunately for you new guys this challenge now only have 2 years and 3 months to run.

I think the last 9 months have gone really really quickly and I am so pleased to be part of this. There is no way I would have paid all that off -actually before MFI3 I did not even know I could overpay using internet banking.

I plan to carry on paying £1000 a monht plus clear the interest added each month. My Christmas Bonus did not go in the bank so will have to speak to work when they open again on the 2nd. I hope with that I can pay an extra £1000 off in January.

Family went back to Denmark on the 27th although I miss them it is nice to have the house back to ourselves and I look forward to doing absolutely nothing today.

Anyway take care all and dont forget to PM me before the 15th January. If you let me have your current balance and your quest number it will be really easy to update the chart. If you are not already on the chart please read post 2. Thanks

angelavdavis

Just a quick post to wish everyone a Happy and Prosperous 2008.

The offset is now finally up and running and December's total paid in is £3170!

Its going to be a lean January as far as spending is concerned, but I have some ebay, quidco and cashback pots I plan to pay into the offset, so this should help. I am also thinking of cashing in my old PEP but will see what value it stands at currently before deciding. Had another look at the monthly outgoings to see if I could trim any more off, but all I could manage was another £3! Not a lot in the scheme of things!

I will phone Britannia on 2nd Jan to find out the latest balance and report to TG and all then.

Best wishes Ange x

amazamum

Hi every one I hope you had a great christmas and new year.
I have PM'd TallGirl and my mortgage balance now stands at 41800,from an original balance of 43508.
We are getting there slowly but surely,hopefully we will have a good year coming up and will be able to pay off a big chunk.
Best wishes amazamum

AnW'sMum

Hi everyone

Some fantactic news from you all in what I would have thought would be one of the most challenging months. Well done to everyone, seems like all had a great Christmas. Looking forward to seeing the new updated chart, let's get as many updates to TG as possible. Even if you have not managed to make too much in the way of overpayments please still update TG as regular payments count in terms of reductions for those on repayment mortgages

Has anyone got any ideas of new ways of money raising to share? Or perhaps reminding others of what they are already doing.

Happy New Year to you all and I hope we see more people getting closer to the MFI3 goal

getmeoutofhere

Just joined up.

Will be using my xmas bonus money as the first extra payment.

freebird65

Greetings all!! Haven't been on for a bit as working like a mad thing, but this should mean I have some good news for the next update!

You'll be pleased to know the only thing I bought in the sales was a new pair of boots - paid for with gift vouchers!

Anything else I wanted, I've left for today....cos it's my birthday and I'm getting treated - wooohooo.

Happy New Year everyone - enjoy.

tattycath

HAPPY BIRTHDAY FREEBIRD!!!!!!