Mortgage Free in Three Yrs

esthomizzy

I've just managed to do an extra £50 this month. Someone paid me back £30 they owed me which I'd forgotten all about it was so long ago and the other £20 came from a study on allergies which paid me for my blood for their experiment. Hooray it's so rare I manage anything extra on top of my regular overpayment.

Haven't had time to read up on what you've all been doing but hello and congratulations to all who have made it this far

dawnylou

Congrats - you are all doing so well!!
I can't wait until next year when I can start overpaying again. Mind I will have had to remortgage by then as well (for a better deal)

Dithering_Dad

Yayy! I've just checked my mortgage balance this morning and I have reached an important milestone. Since we started the MFi3 challenge I have paid 25% off my mortgage!

At the start of the challenge I had hoped to be reaching the 50% repaid at this stage (i.e. almost half way through the 3 years), but things changed in the Dither household and so did my targets.

I'm still really chuffed about reaching this milestone. The next one will be getting below £100K - 'only' another £12,162.40 to go!

setmefree2

Dithering_Dad wrote: »

Yayy! I've just checked my mortgage balance this morning and I have reached an important milestone. Since we started the MFi3 challenge I have paid 25% off my mortgage!

At the start of the challenge I had hoped to be reaching the 50% repaid at this stage (i.e. almost half way through the 3 years), but things changed in the Dither household and so did my targets.

I'm still really chuffed about reaching this milestone. The next one will be getting below £100K - 'only' another £12,162.40 to go!

Brilliant:T:T:T

firesidemaid

i've been watching the new mortgage deals recently - they are coming down (the rates) but the arrangement fees are getting more and more shocking:eek:

i rang my bank, rbs, as they said on their website for existing customers to ring for other offers. the best deal they could do was 5.45%, which is still higher than we pay now, with a 3k plus arrangement fee:eek: - it will hopefully only be a 90k mortgage:rolleyes:

it looks like i will have to really do the sums with % vs fees over the next 5 years.

hughmungas1986

Good afternoon all,

Congratulations DD, what a great achievement :T , good luck on the 100k target.

On a personal note, I have just rung Barclays to get my latest balance which now stands at £ 40809, which means I am 51% towards my MFIT goal of owing £ 20000 by April 2010. I'm hoping to pay another lump sum off, probably next month, meaning that my mini goal of £ 38k by the end of the year is a strong possibility.

We have tried to sort our finances out with me paying the majority of the bills and my OH saving as much of her wages as possible !

Keep going everyone, only 18 months and two weeks to go !!!

hugh :beer:

ailuro2

Well done, guys!!

Even when we don't reach our original tagets, we are right to look for other ways to keep us on the sometimes difficult road to financial freedom....

25% is a great achievement DD, especially when it's 25% of a whopping great amount of money.

Hugh - one more payment and you're under £40,000:beer:

benbenandme

I'm aiming to reach my target by Christmas; it will be a real stretch but I should get close even if I don't quite make it :rolleyes: This will give me 15 months to hammer some more off it before the challenge ends I would never have even got close without this challenge, when I set the target I thought it must just be achievable within the 3 years if I was lucky

gallygirl

benbenandme wrote: »

I'm aiming to reach my target by Christmas; it will be a real stretch but I should get close even if I don't quite make it :rolleyes: This will give me 15 months to hammer some more off it before the challenge ends I would never have even got close without this challenge, when I set the target I thought it must just be achievable within the 3 years if I was lucky

Me too - amazing what can be achieved when you are really focused . I've paid 30% off my mortgage since challenge started, against a target of just under 24% at this stage, and an overall target of 52.3%. Looking good :beer: . And nearly time for the next update :T .

Well done everyone :j !

catshark88

When is the next update due - I have lost track a bit?!

Well done everyone on your fab progress!