Mortgage Free in Three Yrs

ailuro2

I agree- "many a meekle maks a muckle" as they say

(here in Dundee-:p )



a number of small amounts makes a big amount. Then penny hasn't quite dropped, as hit the back of your head, Catowen.;)

TallGirl

Hi TG, funnily enough I was also thinking of having an update page that listed the starting point and the to-date point - a bit like my signature. As you say, it'll be interesting and useful to see our progress as time goes by. I would struggle to fit it on the first post with the introduction and list of names/goals but though that maybe we could use your first post (the second post on the thread) for this?

I had exactly the same thought as you DD. If people are going to be reading this thread we don't want it to get too long and difficult to find anything. I shall be happy to help out doing the updates as I think it is only be who will be able to update that post.

Let me know how I can help.

Dithering_Dad

TallGirl wrote: »

I had exactly the same thought as you DD. If people are going to be reading this thread we don't want it to get too long and difficult to find anything. I shall be happy to help out doing the updates as I think it is only be who will be able to update that post.

Let me know how I can help.

How about something in a table form? That would probably be the easiest to read:

Name...................April 2007.............Current.............Repaid so far
Dithering Dad........£149,723.30...........£128,647.59.......21,075.71
Tall Girl.................£xxxxxxxxxx............£xxxxxxxxx........£xxxxxxxxxx
etc.

If we just update it on a monthly basis, it shouldn't be too time consuming. Maybe if people PM you with their monthly amount in the above format, you can just cut and paste it in?

P.S. Special thanks to nearlyrich for making our MFiT thread into a "Sticky"!

AnW'sMum

Seems like great minds.....

An excellent idea but like you both say it would need to be you two who are responsible as you have posts 1 and 2.

Almost £1.5m pledged now

TallGirl

Yes that sounds great - I shall use your list as a template from post 1 then write the update in say blue to show it better. How about we do it first time by 2nd week of June. Sorry I am on leave 1st week so out of the country.

I will have a play around with it later and you can comment and see if you like it.

Shineyhappy

Just a quick update from me, although not much to update!

I was due to complete (again) last week but the bank messed up and sent the wrong amount of money to the solicitors. The solicitors told me and the bank that they were sending the money back, what they didnt say was that they would send it back after a few days delay, C&G of course do not want to send out more money incase the other lot doesnt come back to them.

In all between the bank and the solicitors incompentence I have still not completed and tbh just want to cry. Had I been in a chain I would have ruined everyone elses plans. The solicitors have now increased their bill by 200 pounds which is not my fault and as C&G have admitted the messed up I am trying to get them to pay it.

Hopefully I will complete this month but the way things are going that is unlikely!:mad:

Hopefully I will have some progress to report soon!

Sorry for being off to such a slow start! Good news though, my bf has officially asked me to move in with him in a couple of months and he has offered to help me organise my flat to be rented out. More good news is that I have converted him to pay of fhis mortgage too. I dont think he will sign up here, but he will be paying off his 86k mortgage and is overpaying an extra 500 pounds a month:T Well done him! This is really good as now he is skint as what he isnt using to overpay he is saving so I dont have to feel guilty for saying I cant afford to............ which is a huge relief.

:T A huge well done to everyone!:T Hopefully we will be able to pass on the MFW bug to others and make us richer and the banks poorer!

LizH

Hello,
I've only just found this site and would love to join in. I'm not sure if I qualify as I have 2 mortgages (that was a dim thing to do) and am scrimping and saving every penny. I watched the Rene Carayol programme 'Pay off your mortgage in 2 years' and it inspired me.
We bought a house in France and overstretched ourselves a bit with a mortgage but intended having a business up and running within a year. I was working in an office but wages in France are very poor and the savings soon ran out. I came back to England to work leaving hubby renovating but after months of kipping on friends floors and generally getting in the way I spotted a house for sale and put in a silly offer and got it. Hence 2 mortgages.
Then after a number of mishaps (got stalked, hospitalised due to ill health and then hospitalised in a violent attack) the bills mounted up and we now find ourselves both working in the UK, all hours to keep our heads above water. If interest rates rise we may just sink.
We are doing lots of things to save/make money from taking in lodgers to buying essentials like insurance through sites like greasypalm and so far it seems to be working. However, sharing your personal space with other people is not the easiest thing in the world and we are now considering selling the UK house and going to live in a touring caravan in a bid to clear the French mortgage. The beauty of a French mortgage is that payments stay the same throughout the entire duration of the loan. The length of time you pay is dependent on interest rates but the premium never rises ... or falls if you pay a big chunk off.
Hope I qualify to join the fray
Liz

CFC

Well I've rang up today and arranged to overpay £50 a month. Not much, but I hope to increase it to £100 or even maybe £150 once there's a lot less on the credit card. Better than nothing anyway, isn't it!

Also found out that my mortgage interest rate is calculated daily and the overpayment gets applied to the capital immediately. Which calculator takes that into account, or do they all assume the same re interest calculations?

'Scuse my iggerance!

wisewoman

Hi All!
I just want to share this fantastic feeling with you.
After mucking us about, and taking an extra six weeks payments form us, Halifax has finally written to us...on really thin, yukky paper...I expected hammered vellum, at least...to confirm that our "account has been repaid in full". The maturity proceeds of the endowment were £11,176.11, and the outstanding amount due was £9,825.75, so we have a cheque for surplus proceeds of £1,350.36 !!!! Yabba-dabba-doo.
These sums must sound paltry. We bought this house in the early 80's for £19,500 but our lovely Victorian villa is now worth approx £300,000. Feeling rather chuffed.
Hope this might encourage you...OK, we didn't do it in three years (just wish we could time-travel a bit and read this site 20 years in the past)

togashi42

cupid_s wrote: »

Togashi :wave: - . I'm envious of all you do! We too have started growing 'stuff' but only really small amounts and we don't get to eat anything of it really (the lizards and associated bugs get it first!) I have put my name on the waiting list for an allotment near me but I've gotta wait for two people to move or die before I get one.

Hey Cupid_s :wave: - We started with a small 10ft square patch in the garden and waited a year for an allotment....Then like buses, 2 turned up which we willingly accepted....Then a 3rd! 2 were adjacent, so we dropped 1 and got another and now we have 2 side by side for the 2nd season. If you want some advice about what to grow or how to grow stuff, drop me a line. The best book by far is still the "Vegetable & Herb Expert" which you can find in almost any garden centre by D.G. Hessayon. A bit dated, but the growing advice is still the easiest to follow and still gives the best results! Or Amazon currently has £2.19 off! :T

I have to post a target to join.....OK, I would like to overpay my mortgage by £10,000 by May 1st 2010 OR shorten it by at least an extra 3 years to 14.

I'll amend my sig to show my targets as well.....