Mortgage Free in Three Yrs

Dithering_Dad

I wish that Standard Life were as good as the rest of the mortgage providers. We have had two rate drops and Standard life's SVR has actually GONE UP 0.15%.

I arranged a 3 yr discounted SVR mortgage with them. Lucklily I have been overpaying massively so I'm not too badly hit by their decision to rip off their customers, if anything it has made me more determined to clear my mortgage.

I may not manage to pay it all off in the next 2 yrs and 1 month, but I will definitely not have a mortgage with Standard Life beyond April 2010!!!

setmefree2

farhad1965 wrote: »

Just got my REVISED PAYMENT NOTICE from The Woolwich. New reduced rate of 5.24% from 1st March. Having paid off so much of the balance too, the new monthly interest only payment is 1,895.27 down from 2125.45, which is absolutely fantastic. I can pay off another £14,000 up to August and then I am remortgaging and hopefully paying off another £30,000; getting the balance well into the £300,000s. I feel totally comitted to this and getting lots of energy from all the great stuff all you other folk are doing here.

Well Done:T:T:T:T:T:T

setmefree2

DD,

That's seriously annoying:mad: but your right just motivates you more to be rid of this whole mortgage thing

TallGirl

Well done from me too, everyone seems to be doing so well. Standard Life sounds like the place NOT to have a mortgage if they increase their rates hope you get out soon DD.

My mortage is now down to £24,000 it is so weird when we started this 11 months ago it was 45,500 and to be honest we haven't made any sacrifices just thought more before spending the money.

Still so tempted to have the bathroom, ensuite and cloakroom done, getting one final quote now. Might had to add a bit to the mortgage but determined to pay it all off my April 2010.

Also really really enjoy Match Betting it is a whole new world and I have learned so much already. Only been doing it 4 weeks and already £300 up. I does sound tricky to start with but eventually it will make sense.

setmefree2

TallGirl wrote: »

My mortage is now down to £24,000

Soooo Jealous - there are people with more debt than that on their credit card:D

Wll done TG:T:T:T:T:T:T:T

Miss_Pink_3

TallGirl wrote: »

Well done from me too, everyone seems to be doing so well. Standard Life sounds like the place NOT to have a mortgage if they increase their rates hope you get out soon DD.

My mortage is now down to £24,000 it is so weird when we started this 11 months ago it was 45,500 and to be honest we haven't made any sacrifices just thought more before spending the money.

Still so tempted to have the bathroom, ensuite and cloakroom done, getting one final quote now. Might had to add a bit to the mortgage but determined to pay it all off my April 2010.

Also really really enjoy Match Betting it is a whole new world and I have learned so much already. Only been doing it 4 weeks and already £300 up. I does sound tricky to start with but eventually it will make sense.

Go for the bathroom hun. I've just had mine done as it was in an emergency state of repair and it does wonders for your happieness. I know its only a new bathroom, but my bathroom is now my favorite place in the whole house. Whereas before it was my least favorite place, with tiles hanging off, no bath panel, plastic sheeting around the shower area to protect the walls and it was just so dark and gloomy!!! Now its bright and airy and i spend ages in the bath tub now!!! Got my tiles and suite from B and Q and my fella had a go at fitting it himself so saved us lots of money whilst learning new skills himself. I think in all, including pipes, tiles extras etc its cost us £1000. We got our suite in the January sales.

TallGirl

Miss Pink that sounds lovely, my problem is ours isn't really that bad just more of a would like a new one. Ours is fully functional but had old taps, cream suite and carpet in the ensuite. I think if we spend less than £10k I will be lucky. Can't do DIY at all.

Dithering_Dad

HI TG, you've done really well on your mortgage, that I think you deserve a treat. Plus your new bathroom will add to the value of your home, so definitely a win-win. We had our back garden landscaped last year and we're really chuffed with the result, though admittedly it did resemble a building site after the extension. You are so far ahead on your targets that I bet you could get the bathroom done and still pay off your mortgage well before Apr 2010!

On a different tack, we had a debate a few months ago on whether we should close the challenge to new entries after the first year has passed. I think the main argument was that we were on a 3 yr challenge and so it didn't make much sense for people to join when we only had 2 years left? (2 years :eek:)

Now that there is another brill MFW challenge thread running for newbies to join, people won't feel left out if we close our 3in3 challenge (I hope). What do people think, should we stay open or closed (for new members)?

angelavdavis

Hi DD,

I agree and think we should close the challenge. It is great that people want to join in, but I appreciate it is continuing to cause you and TG work on a regular basis adding people.

I also support TG in removing anyone who clearly hasn't updated either of you in 12 months too.

TG, I agree with DD - treat yourself. I can't believe you have managed to halve your mortgage. I would love the idea of having a mortgage of less than £25k!!! As has been said, people have more debt on their credit cards. You can go out and get car finance for more (I don't advise you do though ).

Having said that, I have been looking at the Plumbworld site and they have some great deals on bathroom supplies, I am quite tempted myself.....

Dithering_Dad

Thanks Angela, but TG does all of the work. My main reason for thinking we close the challenge is really just logic - it isn't a 3 yr mortgage payment challenge when there are just 2 yrs to go

Also, there is now a new challenge for newbies to join, so we won't feel bad for closing ours (if we do, that is - I don't want to pre-empt the public vote).