Mortgage Free in Three Yrs

wisewoman

A happy new year to all Questees...health and happiness and ever-reducing mortgages. XX:beer:

Move_To_Portugal

Happy 2008 all on the MFi3 quest :beer:

Lexxi

I've just realised that I can put the money I saved last night into my xmas pressie mortgage cat! And I didnt drink all that much so I still have a bottle of wine left!

Happy 2008 everyone!! :beer:

dawnylou

Happy New Year all! Hope it's a good one for us.

Quidco say they have paid me £50 - not showing in my bank account though so hope there is no problem. I will wait til Monday and if it is in my bank account I will quickly make another payment before my statment comes

angelavdavis

dawnylou wrote: »

Happy New Year all! Hope it's a good one for us.

Quidco say they have paid me £50 - not showing in my bank account though so hope there is no problem. I will wait til Monday and if it is in my bank account I will quickly make another payment before my statment comes

Hi DawnyLou, same here - paid £60 on 31st December, I am guessing the public Holidays have delayed its arrival.

esthomizzy

Happy New Year everyone

I spent £15 on new years eve because I took bubbly with me to the friends house which was a present so that was just for my share of the taxi home. Lovely night. Christmas on a shoestring has been very difficult though. Roll on January payday it's such a long way away.

meme_3

Hi everyone and happy new year.

I don't post very often but I do read regularly - good to see everyone doing so well.

I was a little demotivated because I didn't think that we were making too many inroads, particularly having had to buy a new Rayburn (ouch! £7500) just before Christmas when the other one packed up leaving us without heating and no cooker!!

But then today I checked the progress we have made and am now smiling again, even if that wretched cooker has slowed us down a bit!

Keep up the good work guys.:T :j :T

meme

(TallGirl, I have pm'd you this info)

Miss_Penny_Pincher_2

happy new year everyone!

good to read all the success stories.

Meme - that must have hurt paying £7,500 for your rayburn - I bet it looks gorgeous though and makes ur home feel really homely and toasty

my progress has been slow but steady - managing to make maximum overpayment every month of £500 and am saving up to pay lump sum off when our fixed rate ends in March.

I saw mortgage advisor today - i'd prefer to remortgage to a 3 year rate as at a push think we could get it paid in 3 years but the best i've found is 5 year fixed at 5.63% with no fees. the 3 year rates are higher interest so thinking of going for the 5 year. it will be easier to pay but slower which i didnt really want as means the quest is taking me 6 years instead of the 4 years I was aiming for! what would you do?

Please let me know

OverlandLandy

meme wrote: »

Hi everyone and happy new year.

I was a little demotivated because I didn't think that we were making too many inroads, particularly having had to buy a new Rayburn (ouch! £7500) just before Christmas when the other one packed up leaving us without heating and no cooker!!
.:T :j :T

meme

:eek: OUCH!

I had the same problem (mine is oil-fired)- but managed to get a local plumber who gave mine a go -and I ended helping him fix it! I found the Aga Guild useless and expensive.
If you ever need to source parts or diagrams for it let me know - I tracked them down on the net at 1/2 the cost of Aga

If I ever get made redundant (strong possibility this year) I think I will set up servicing Aga's -there is a definite business there!

Good luck on the mfi3 - hope you get back on track soon....

taka

I was wondering if anyone would mind me changing my starting point for this challenge? Confused?? (sorry... feel free to skip the rest of this post...boring post coming up)

I'll explain...

As at 01/04/07 my mortgage was at £48,573.25 but I knew I was going to have to borrow to get my bathroom revamped and roof repaired so I said I was down for £54,000 as the start amount of my challenge and to reduce this by £11k to £43k at the end of the challenge.

I was going to add the borrowings to my mortgage but in the end chose to take a loan (unsecured) out instead. This ended up being for £7500 and was taken out in July 07. Now this was more than I had planned to have in debt at the start of this challenge. (£48,573.25 + £7500 = £56,073.25 instead of £54k)


This has meant that at every update time I have given my true amount (eg £55542.75 in Aug ) and as a result it looks like I have not paid anything off... in fact this upcoming update will be the 1st one where I am lower than 54k and hence in positive numbers for the challenge. :rolleyes:

Would anyone mind if I changed the start of challenge amount to £56,000?? I guess its just a wee thing but it's really bugging me as it looks like I've done really badly but I've actually paid £2500ish off since this challenge started? My end point would still be £43 k so my challenge would change to reducing by £13k instead of £11k?

Has anyone got any thoughts on this? (If you've managed not to fall asleep reading it :rotfl: )