Mortgage Free in Three Yrs

ailuro2

We are getting the same obsession- to have the mortgage paid off before we are out of our 40th years.

It would be fantastic to have it paid before DH is 40 in May 2009, that would be the best present ever. If not, I'm 40 in Jan 2010 so maybe then??
Whatever happens, we need another couple of decent sized lump sums on top of the £200 a month overpayment to pay it off before he turns 41!

!:o Yes, it's a bit of an obsession now!

Well done on coming home from a big holiday with cash left over.:T
Well done too, to lunasaver- that's a big psychological barrier broken.:D

1274

I've just got my balance today and it stands at £51,899.63! I won't mess up TG's figures by sneaking a new update in before the 17/4 deadline but if I stick with my minichallenge of paying £1500 off the capital in May and June I should reach my MFIT target by the next update! I'm therefore setting myself a new MFIT goal of getting my mortgage to £30K by April 2010 - I never would have believed I could get it down so quickly seeing as I joined MFIT in December with £125K outstanding

AnW'sMum

Some great updates coming in, well done to you all With all these encouraging posts it's almost like a snowball effect, goals being reached quicker than thought possible and new targets being set, just brill

Move_To_Portugal

Morning all, every one's doing really well, I can't wait to see the chart and I can't believe it's already been a year.

Our mortage is down to £130,305 from £135,850 at the start of the challenge. We only really started with the overpayents in January so I'm quite pleased so far.
We have a target mortgage figure of £118,000 by December 31st this year to focus on next.

Keep going all :T

mtp

OverlandLandy

Having been inspired by many of the posts....

I have been doing a bit of a 'Spring clean'......and really looking at all the things that I have bought over the last few years that are now gathering dust. If you add it all up its quite a few £££ that could have put me closer to being MFi3.

So my MFi3 new years resolution is to 'buy nothing unless its a replacement for something that has broken through actually being used!'

I'm also planning an 'Ebay & Free-cycle blitz' on those unused items or those that I have kept 'just in case'....

I'm also taking the BIG step of preparing my Historic Rally car for sale. I want to buy a Motorbike and I'm going to spend no more than i get for the car - ie cash neutral!

I have also had a look at my finances and have decided to continue my Offset 'Chocolate fountain idea' (ie keeping my current account at a maximum level on a set date....transferring any 'excess' into my 'savings pot' and than paying off a chunk of my mortgage as soon as I hit £500.01 over my pre-set savings account level).

I have also decided not to renew a few club subscriptions as they are not really getting used to the full. I have advised the bank to cancel my direct debits.

I have also decided to take my bank to the FSA for an on-going catalogue of errors and lies.

The only thing I can't decide on is if i should pursue a claim against a hotel where a chair I was sitting on collapsed and I damaged my back (I did end up at the doctors a good few times and had to take a drugs cocktail inc Diazapam to relieve the pain! I have also had to have x rays to determine the cause which was OK as it showed no bone damage). It has caused me a large amount of pain and I was unable to drive, but thankfully I was able to get other people to drive me around for a few weeks. I'm not really into the Litigation culture. Is it worth the hassle or should I just forget it?

TallGirl

Morning
I think we have all been waiting long enough for the chart. Thank you so much for all the updates it is all done but I just thought I would give the final few a last chance to update. We are so close to having paid 33.3% off our total pledged in the first year and it would be a great boost if we could get there.

I know some of you may have updated via the general thread but I can't always get to my spreadsheet when working away so I am likely to have missed it. Please remember it is only the balance as of 01.04.08 so hopefully we should all have that by now.

See Chart below if you have not updated me and if you ask nicely I might redo the chart.

Big thank you from TallGirl :T

Look forward to hear from you soon.

PAD_2

Hi everyone,

I am looking to be mortgage free asap as well, but i don't actually have a mortgage! Ive been saving for about 6 months now and am aiming to get about £60,000 on the basis that i'll be moving in with a friend and that a 2 bed place will cost about £120,000 (maybe less at the current drop in prices). I basically need about £47100 to reach that amount, so maybe 3 years is a bit far fetched. My main goal now is too get my "future "monthly mortgage payments down to as little as possible (around £250 per month) so i can continue saving/overpaying.

Keep up the good work!
:T

taka

Arghhhh.... knew I'd forgotten something... I'll send the PM as soon as I get home (where I have the figures on my computer)...sorry!

firesidemaid

OverlandLandy wrote: »

The only thing I can't decide on is if i should pursue a claim against a hotel where a chair I was sitting on collapsed and I damaged my back (I did end up at the doctors a good few times and had to take a drugs cocktail inc Diazapam to relieve the pain! I have also had to have x rays to determine the cause which was OK as it showed no bone damage). It has caused me a large amount of pain and I was unable to drive, but thankfully I was able to get other people to drive me around for a few weeks. I'm not really into the Litigation culture. Is it worth the hassle or should I just forget it?

just out of interest - have you had paid time off work/sick with this? they also may be interested in putting a claim in too x

kiwi88_2

Hello Peeps No 85 reporting

I've been with you in spirit only for the past 2 months and probably will continue that way until further notice I'm sorry to say so my update doesn't look exciting at all :rolleyes: Balance as of March £97585.42

I've had notice that my job contract definitely finishes in August so with DH's OD and CC having higher interest than the morgage (let alone the banks monthly charges :eek: ) and finances shaky we decided we would pay off as much of those as possible. So I have payed £600 off the CC and £150 off the OD in February and March.

I do feel down that I can't do all three things but that's as it stands at the moment. If circumstances change then I can adjust things a bit but for the moment the morgage is on hold