Mortgage Free in Three Yrs

Dithering_Dad

firesidemaid wrote: »

i like DDs idea about a party at the end of april 2010. could also be a great advert for mse - i can feel a photo opportunity coming on for us all.....;)

Maybe Martin could persuade "Hello" magazine to pay for the party in return for the photo opportunity. Cool! Champers all round!

gallygirl

Dithering_Dad wrote: »

Maybe Martin could persuade "Hello" magazine to pay for the party in return for the photo opportunity. Cool! Champers all round!

Hello is a bit downmarket - how about Harpers Bizarre . Personally I'll only appear if all the smarties are blue & the jelly babies green. The environment must be kept at 22 degrees and the correct humidity to a) not make my hair droop and b) not dry my skin out. George Clooney as waiter, with John Barrowman in reserve.

Or we could go for a picnic in the park & a mention in Martin's weekly bulletin .......

ailuro2

We can have a picnic in the back garden of our homes- cos they'll be OURS,or a damn sight nearer to ours!!
We'll drink Tesco champagne bought using a voucher code and some clubcard vouchers, and we'll be sat on a picnic blanket we made from old clothes and a pattern off the old-style board.:rotfl:

We can sit and count out monopoly money to show how much we've saved/deprived the banks of.:beer:

Then we'll all send Martin and Andrea and the gang a picture.

Do you think the banks will want a copy of the pics too- like that advert where they put pics of all their happy smiling customers up on the wall?

We could be in their rogues gallery:p.

esthomizzy

dawnylou wrote: »

So now we have no choice but to pay £25 every month for going overdrawn? That can't be right?
That's certainly put a downer on things because if I actually had £25 spare every month I could pay it off the mortgage!!! :mad:

That certainly sounds unhelpful of the mortgage company to say the least. Try ringing back and talk to someone else. Sometimes the info you get from one person can be an outright lie and you talk to another person and they confirm it's not correct (this is a particular problem with BT in my experience). If it is correct then you'd probably be better arranging or increasing your overdraft by the appropriate amount rather than paying the £25 fee each month. If it's only a few days difference then the interest amount should be a lot smaller than the fee.

Kaz2904

Ailuro, thanks for your concern. My sister and I always knew that the money was loaned and to be repaid. When we borrowed it the terms were that it was interest free loan to be repaid when we had it. I had already said I would do a monthly SO to her account but she said no.
The money is my Mothers not her husbands (I don't know either? Split pots I think because of his son). My sister and I will never get an inheritance from her- we've always been told this as she plans to leave everything to the RNLI. This is why we've viewed this money as our inheritance (IE in the interest that we've saved from not borrowing it).
I quite agree about giving away a portion but she doesn't want to give any away to charity until she dies.
It's a very confusing situation and all DH and I can do is hope that she doesn't change her mind before 22nd July as we will still be paying off the Egg card until then.
BUT- my grocery challenge is going alright and both kids had their feet measured today and haven't grown so that's good!

benbenandme

How about our party is filmed for a special version of "It Pays To Watch"?? Martin could be our guest of honour

dawnylou

esthomizzy wrote: »

That certainly sounds unhelpful of the mortgage company to say the least. Try ringing back and talk to someone else. Sometimes the info you get from one person can be an outright lie and you talk to another person and they confirm it's not correct (this is a particular problem with BT in my experience). If it is correct then you'd probably be better arranging or increasing your overdraft by the appropriate amount rather than paying the £25 fee each month. If it's only a few days difference then the interest amount should be a lot smaller than the fee.

I thought that but Fiance says person he spoke to sounded very genuine.
We don't have an overdraft But yes it probably will be a good idea to try and calculate how much we are going over and arranging one. (We don't actually show as being overdrawn so I don't know how much over we are going!)
The only other thing we could think of was to phone every other company and change every other DD to the 3rd of the month so my funds were there for mortgage and when Fiance's funds went in on the 1st everything else would come out from that?

ailuro2

benbenandme wrote: »

How about our party is filmed for a special version of "It Pays To Watch"?? Martin could [strike] be our guest of honour[/strike] pay for tea at the Ritz for us!:D

hehe! that's a great idea, bb&me:D

Optimistic_Saver

Hi everyone - I think it would be great to have a MFI3 get-together at the end of our challenge!!

Am no. 90 on the chart. I haven't posted on this thread before (been silenting chipping away at our mortgage behind the scenes) but have been reading all the posts and just wanted to say thank you to everyone - it's so inspiring to hear how everyone is doing.

I had £125,000 owing on a repayment mortgage with Abbey at the start of our challenge, and a further £33,550 on an interest only basis (covered by an endowment policy with the Pru). Our 2-year fixed rate on both parts (4.45%) was due to end in June 2008. I have managed to pay off £12,500 since we started last year.

I have just been super-brave or very stupid (not sure which) and managed to secure a 5-year fixed rate with Abbey (£200 fee) for 5.75% - and have rolled the interest only (endowment) and repayment bit into a single repayment mortgage - from July 2008. I have decided to keep the Prudential endowment and use this to repay a chunk off the mortgage (possibly the whole lot) when the endowment matures in 2015.

I do hope I have done the right thing!! Either way, I wouldn't have got this far without the support and inspiration of this amazing thread.

Thanks so much! Well done everyone.

Here's to meeting up in 2010!!

minimoocow

I love the meet up ideas . . . I think we need to plan it in advance so we can all book cheap train tickets! (MFiT habits die hard)

We should also have a MFiT by numbers . . . x amount of mortgages paid back, y saved in interest, z MFiT weddings, a MFiT babies - definitely a Hello magazine front cover - look at the homes these people own outright!!!!

Having been a bit disheartened by our recent lack of progress I am trying to be focused on the end goal and I know we would have been much worse off if we hadn't been paying down the mortgage - yes we might be £500 backwards since xmas but we have had new double glazing and received no rent either so actually we are a bit ahead if you see what I mean?!

We've also decided that once we have paid the mortgage off we will put the interest we would have been saving aside and have a decent holiday so I am researching where we'd like to go which is keeping me focused too!

Roll on the MFiT meet up!