Mortgage Free in Three Yrs

setmefree2

Redbedhead wrote: »

At 18/10/07 = £205,000
At 5/7/08 = £199,397
So we have paid off £5,603:T

Well Done on going sub £200k:T

molit

Just totting up how much interest I have already saved/how much time I've taken off my mortgage - looking at over 6 figures and more than 15 years off, thanks to my previous employers, and now I have more salary. If I did nothing other than make my min repayemnts, I'd be mortgage free within 8 years....

ailuro2

TallGirl wrote: »

Please get your updates to me for the chart by 12th July.

don't forget now, there are only a few days left!!

Superfast_Gran

:j :j :j :j Not quite MFi3, but my 4th grandchild was born yesterday - another boy = 3 + 1 girl - Luke Alexander - 7lb 15oz, 50 cm :j :j :j :j

TallGirl

Congratulation Superfastgran that is wonderfull.

My bathroom is finally finished and I love it. It is just what we wanted actually better than we could have hoped for so a very happy person this morning. If you want to see some pics look here http://forums.moneysavingexpert.com/showthread.html?t=663109&page=16. (Scroll down to the bottom for the final ones)

We have not had the bill for the bathroom yet and he is now on holiday so we wont have to pay for at least 1 week. Then it is off to do the ensuite but I will be on holiday by then.

CHART UPDATE: I still need to hear from 29 people who updated last time and 12 people who have not updated since January 2008. Thats 41 people out of 131 surely we can do better.

Bargain_Rzl

Hi TallGirl, I haven't forgotten (and I'll be putting myself BACK on the list, having dropped off for reasons mentioned in my post last week) but will be PMing you ON 12th July as I've just made an overpayment that'll be due to clear on 11th but I'll be away till Saturday lunchtime.

I was hoping DitheringDad might answer my question about my original target not being right, but if he doesn't I'll leave that as it is. In fact, it's starting to look like keeping a bit of liquidity at the end of this year will be necessary to enable me to invest in an employee share scheme (earlier parts of which are set to clear a substantial part of my mortgage over the next five years or so). So while I will still be making a large overpayment in December, it will probably not be quite as much as I had thought it might be - so it's maybe best if my original target stands.

Scarum

I'm just under £8000 today, 5.5 years remaining.

10.5 years ago it was £31000, 25 years (at the start).

The planets are lining up!

TallGirl

Bargain_Rzl wrote: »

Hi TallGirl, I haven't forgotten (and I'll be putting myself BACK on the list, having dropped off for reasons mentioned in my post last week) but will be PMing you ON 12th July as I've just made an overpayment that'll be due to clear on 11th but I'll be away till Saturday lunchtime.

I was hoping DitheringDad might answer my question about my original target not being right, but if he doesn't I'll leave that as it is.

Bargain Rzl I think we kind of agreed to leave peoples tagets as they were or the stats would become meaningless. If people manages to pay more off than their original target then it will just show they have managed to clear over 100% You are welcome to come back on the list as you are right you are currently off it.

Dithering_Dad

Bargain_Rzl wrote: »

I was hoping DitheringDad might answer my question about my original target not being right, but if he doesn't I'll leave that as it is.

Hi BRzl,

Sorry, I must've missed your post. As far as your original target is concerned, the MFi3 is your challenge so you can have the values set to whatever you like. Let me know your new target and I'll change the OP.

I was wondering myself whether to change my target from £150k to something more achieveable (things in the Dither household have changed since the start of the challenge and so I won't come close to paying off the whole mortgage). I might go with "Reduce mortgage from £150k to £60k", which is a challenging target, but more achieveable.

I know that there are others who have either over estimated or under estimated their challenge targets, so perhaps we should all re-evaluate our targets at the half-way mark and update the OP and TG's spreadsheets accordingly?

What does everyone else think?

note: I somehow missed TG's post prior to mine... I think she's right about changing the targets. It doesn't matter what we hoped to do and have either underachieved or overachieved, we've all done really well so far on our challenges and we're only half way through!!

While I'm going on, I'd like to thank everyone for making this such a brill support thread. It's strange to think that we started this challenge prior to all of the credit crunch, recession fears, mortgage increases in order to protect ourselves from exactly these things!! We must have ESP!

Kaz2904

Ooh dunno, It's a lot of work. Any chance of having just a separate line in our sigs to reflect the changes? The sig which by the way I can see you are not showing DD- you're still in stealth mode aintcha!


Tallgirl, fab bathroom pics, I'm pleased to see you chose your suite to match in with your shampoo - (which BTW is what I use and very MSE!) and conditioner. You won't be able to change the bottles now even if you change the brand !
Superfast gran, congratulations on grandbaby no. 4. How lovely!