Mortgage Free in Three Yrs

Optimisticpair

It's really good to see so many doing so well.

I have just discovered how to view your avatars, and put one up, I see some of them some are inspiring reminders of what it is that you are aiming for.

We can't wait to exchange on his flat sale and make progress with the house we have our sights set on and then crack on with the brilliant strategies for moneysaving that I've found on here. I'm setting us a target of 4 maybe 5 years subject to finalising when we know what renovations are essential. We will have to gather a bit of furniture and furnishings together as well. At least we have a fridge and beds to start with.

Just have to be patient won't we!

minimoocow

Thanks everyone . . . its really nice to share good news with you all . . . obviously friends and family in the real world either think we are mad or rolling in it so we don't bother telling them but getting sub £10k was a real milestone!

And to get it paid off by Feb would be a real stretch and will rely on possible exam and performance bonuses as well as a fairly lean Crimbo but either way I think we can def do it by the next MFiT anniversary!

So come on everyone lets see how much we can pay off before the next chart is due . . .

MMC

cupid_s

We stopped all overpayments whilst saving for our holiday but we’ve managed to save all the money for our holiday already. We we’re expecting it to take until the end of November so we have 4 paydays worth of ‘extra’ money to go off the mortgage (well into the pot to pay off the mortgage at some time in the future).

After discussions with hubby we’ve concluded we definitely should be counting the money we are saving because we will pay it off the mortgage as soon as it becomes financially sensible to do so (when our mortgage rate is higher than the interest we’re getting on savings) and it is completely separate to our other savings which we may or may not use. I’ll add all this to my overpayments from august and so we should have quite a good quarter coming up – yay!
I don’t tell this to people but despite everything going up in price and us spending more than I think we should on random things, our money never seems to go anywhere. I get paid and I still have almost all of last months money and I have no idea how that happens! But it’s made me think we can definitely complete this challenge and that’s spurred me on to spend even less.
Well done minimoocow. Sub 10k is amazing. And i'm sure ailuro will get there next month. It's great to see how much people have paid off - it's a big help to me.

plzhelpmesave!

OMG cupid - how lucky are you??!! i would love to have our money going nowhere and stay sitting where it is suposed to!!

me and hubby - more me i guess - have been trying to get into the whole MFW thing... but it just aint happening!!! We have family abroad and just as we seem to save a little it and even mention the word ISA or SAVINGS out loud, we need to send money to them!!!!

Ikeep reading thsi and other MFW thread and get inspired but then feel like its not going to go anywhere soo give up again and just dream!! we WILL get there one day!

well done to all of you who are paying off money... long may you overpay!

setmefree2

Well Done cupid - keep going:T:T

SMF2

FreedomGirl

Hi,

Well, we too have crossed the 10K barrier but are going the wrong way

(MFiTers may remember that I left my job, am having some health problems, and my hubby's last pay cheque is at the end of this month. He is retraining)

But it's not all doom and gloom though, as our net worth (mortgage plus cash) is still positive (by a few grand). I'm off to move our pots (which add up to 2.5K - I could not believe it when I looked at the amounts!!!) to the mortgage account to cheer myself up.

That 10K barrier is really quite a milestone. Well done to everyone who has crossed it recently

FG

ps Sorry for being a bit of a slightly grumpy so and so Just fancied posting (and keeping our thread on the front page too!)

esthomizzy

I am tantalisingly close to being at the 220k mark (220729.95) but wont quite make it this month I don't think (going on holiday). Still plugging away at it slowly though.

amazamum

Congrats everyone who has got sub 10,000 hope fully we will be there in about 18 months.yipeeeeeee

I,_Brian

Hey, this is a great idea!

I know I'm late to the party, but is there any chance of getting involved? Would be a great way to keep up the momentum.

Took out my first mortgage in Sept 06, and trying to overpay £12k per year on a debt of £175k. Falling a little behind on overpayments, but already trying to correct that.

abouttimetoo

I,_Brian wrote: »

Hey, this is a great idea!

I know I'm late to the party, but is there any chance of getting involved? Would be a great way to keep up the momentum.

Took out my first mortgage in Sept 06, and trying to overpay £12k per year on a debt of £175k. Falling a little behind on overpayments, but already trying to correct that.

Hi Ibrian

As I understand it this particular thread/challenge is 'closed' to new members as it is made up of a certain number of people who started at out at the same time. But don't worry there is the 2008 one that you can join (i'm in that one). You will find the thread on the first page and BellsBells is the poster who started it and kindly maintains it for us, publishes monthly figures etc. It's very flexible in that you can just add how much you would like to overpay by and by when - eg £2000 by Dec this year.

Welcome to the club