Mortgage Free in Three Yrs

Bargain_Rzl

I'm going to PM you TallGirl - I've fallen off the spreadsheet as I wasn't actively participating in MFi3 until quite recently due to saving instead of overpaying, and now I'm back here permanently and would like to be back on the list.

Before I do, though, I have a query (for Dithering Dad, mainly) - when I expressed my original intentions (post #266 of this thread) I wasn't able to express my target clearly, so on the list in your OP I'm down for a £7k reduction, when in actual fact that was my target for the end of my fixed rate, which is only 6 months away and only 20 months into the 36-month challenge. As a 3-year target it isn't even a challenge! I am on target to achieve this, with piecemeal O/Ps for the next few months then a biggie as soon as the fixed rate finishes. Would it be possible to revise the figures and say that by April 2010 I want to have got my mortgage balance down to £35k? This would be from a starting figure at April 2007 of £51,225 as stated originally. Or is this against the rules?

I am/was MFi3 member no.32, by the way... (which has got me thinking... the end date of the MFi3 challenge will be 3 months before I turn 32, and I'm now wondering whether I might get the mortgage down to £32k by my 32nd birthday However, please ignore this general musing for the purposes of MFi3!))

mountainlioness

TallGirl wrote: »

Well done Mountainlioness I take is this reads that congratulations are in order:T .

Not yet, unfortunately, TG :rolleyes: But hope it won't be too long!!! Think DH is enjoying himself too much Hope to have cub-related news from the lions' den by the end of the year for you all:D

CountryWife_2

Hi all,
Well done to everybody paying even (like me) small amounts off your mortgages. I have just updated TallGirl with my latest figures; I have just transferred some money into my mortgage account to bring our total owed down to £86,000. It seems like such a small amount compared to some of you, and it is nowhere near enough to meet my target but i am hoping to do a lot more maybe next year.
I have not posted for a long time due to some fairly intense and emotional family stuff. our son-in-law collapsed at work a couple of months ago and nearly died. If it werent for my DH being there and doing immediate first aid, he definitely wouldnt be with us. It makes you really realise how valuable it is to keep up to date with your first aid. Anyway, he is now fully recovered and has a pacemaker fitted so if it ever happens again he will be ok. The good news is that when he was in hospital recovering, our daughter discovered she is pregnant, so we will be grandparents in Jan next year. I am so looking forward to that.
I am also looking forward to seeing the new chart. I might not post very often, but i do keep up to date with what is happening on this thread!
Best wishes to everyone and keep up the good work

Kaz2904

Sounds like you've been through the mill a bit CountryWife. Hope that the new addition brings you miles of smiles!

ailuro2

Countrywife- there's a silver lining in every cloud, although sometimes it's hard to see when the rain is pouring down on you.

Sounds like the mfi3 fund might take a dent when the grandchild comes along - the clothes these days are almost irresistible!!:D

angelavdavis

CountryWife wrote: »

Hi all,
Well done to everybody paying even (like me) small amounts off your mortgages. I have just updated TallGirl with my latest figures; I have just transferred some money into my mortgage account to bring our total owed down to £86,000. It seems like such a small amount compared to some of you, and it is nowhere near enough to meet my target but i am hoping to do a lot more maybe next year.
I have not posted for a long time due to some fairly intense and emotional family stuff. our son-in-law collapsed at work a couple of months ago and nearly died. If it werent for my DH being there and doing immediate first aid, he definitely wouldnt be with us. It makes you really realise how valuable it is to keep up to date with your first aid. Anyway, he is now fully recovered and has a pacemaker fitted so if it ever happens again he will be ok. The good news is that when he was in hospital recovering, our daughter discovered she is pregnant, so we will be grandparents in Jan next year. I am so looking forward to that.
I am also looking forward to seeing the new chart. I might not post very often, but i do keep up to date with what is happening on this thread!
Best wishes to everyone and keep up the good work

Isn't it funny how life is?

Good to hear your SiL is on the mend and the news on the grandchild is fabulous.

I don't think you should be worrying about the overpayments - it sounds like you have plenty more blessings to be counting!

Good luck with everything!

gallygirl

No. 11 checking in .

Have PM'd Tallgirl:

Start: £53300.48

Now: £40214.60

Paid off: £13085.88

51.52% of target, over 1/2 way there!!!!! :T

Gulp Countrywife - glad all working out well now.

PS Just snowballed - I'm now back on target to pay off mortgages on own house & 2 BTL's by Aug 2016 - bang on schedule...... now to get it down

do_it_today!

Hi all :hello:
wanted to wait until my balance was sub £123,000 before updating but this will be after the update deadline! anyway its currently £123,409.53 which still means I have met my target abit early which is good news :j
well done to everyone else and keep up the good work :j

angelavdavis

Requested the final redemption figure now we have a completion date of 18th July.

Have managed to fund the £125.00 discharge fee out of ebay sales and Quidco, so I don't feel quite so unhappy paying it!

CaroB_2

Just PM'd Tall Girl so I too thought I'd post here with an update.

My OH has now been working since March, hooray, and has replenished enough of his savings that we can now really starting chipping away at the mortgage. The only easy way to do this regularly was to increase our monthly payment, so we're now overpaying by £500 a month which should help! I hope to chuck a few other bits and pieces at the mortgage as I've got so used to living frugally while OH was unemployed that I've hardly bought anything unnecessarily over the last few months! My only slip was an online purchase as an ethical website was having a better-than-half-price sale and I couldn't resist. Mostly presents though so that'll help for Christmas and birthdays.

Keep up the good work, everyone!!