Mortgage Free in Three Yrs

financialbliss

TallGirl wrote: »

This one is running for 3 years and we only have 13 months left now so not worth joining. How about looking at the MFW2008 (if that is still running) or Financial Bliss's one that starts in December. Good luck and well done with how far you have come.

That woud be this one...
http://forums.moneysavingexpert.com/showthread.html?t=1402631

Deliberately kept it low key on this thread, as I'm not out to steal anyone from this MFiT challenge.

As we approach December, I'm sure there will be people who either know they won't be mortgage free by the end of this challenge, or perhaps have met their original MFiT challenge and a second mortgage free challenge may see their mortgage cleared completely.

I'll drop a reminder or two as we approach December to see if anyone want to join the MFiT-T2 challenge...

Financial Bliss.

Desperate_Housewife_2-2

Just had a letter from RBS one account saying they will not be passing on the 0.5% recent rate cut. Can't believe the audacity of the banks getting bailed out by the good old British taxpayer, getting their bonuses and still managing to rip us off.

I'm so glad I am paying off my mortgage!

Dithering_Dad

financialbliss wrote: »

I'll drop a reminder or two as we approach December to see if anyone want to join the MFiT-T2 challenge...

Financial Bliss.

Hi FB, the end date for this challenge is April (2010), not December (2009).

oops, sorry. Just realised that your T2 challenge starts in December (?). um nope, totally confused now. please ignore me. :rotfl:

financialbliss

Dithering_Dad wrote: »

Hi FB, the end date for this challenge is April (2010), not December (2009).

oops, sorry. Just realised that your T2 challenge starts in December (?). um nope, totally confused now. please ignore me. :rotfl:

Who said that?

Yes, this challenge ends in April 2010. Quite relevant as from tomorrow (26th February), the number of days will have dropped to 1 year, 1 month and 3 days remaining or just 399 days remaining...:eek:

The thinking behind the MFiT-T2 challenge is that people who are interested register between now and December 2009. Then everyone who has registered gets the benefit of a full three year challenge, ending in December 2012.

FB.

angelavdavis

Desperate_Housewife wrote: »

Just had a letter from RBS one account saying they will not be passing on the 0.5% recent rate cut. Can't believe the audacity of the banks getting bailed out by the good old British taxpayer, getting their bonuses and still managing to rip us off.

I'm so glad I am paying off my mortgage!

Amen to that one DH! As a previous (Virgin) One Account holder, I always respected the fact that One Account always passed on the rate changes! Now they have fallen by the wayside - getting rid is by far the best policy!

shazzany

my lender ( c&g) have annoyed me recently too. have now imposed a £10 admin fee for any overpayment which means i'll need to save up a larger amount b4 sending off a cheque to make it worth while.

This frustrates me as needs more will power not 2 spend it whilst the money builds up! Whenever I get another mortgage I will def go for a more flexible one.

minimoocow

It's all gone! Checked yesterday and OH salary had gone in taking us just over the zero amount for the first time and checked again today and my salary has gone in meaning that is we are very frugal we might make it until next payday without going back under so . . . WE ARE EFFECTIVELY MORTGAGE FREE! :j

I was keeping some e-savings (theoretically) seperate but with the rates so low it didn't make any sense so it's now all gone against the mortgage.

Bit of an anti climax really - might have a fish supper to celebrate! Logged into the one account - my interest rate is 0.1% - they are paying me so yes I was also annoyed with the letter . . . but not any more!

Just need to work out where to open a savings account as we haven't had any for the last few years!

Thank you all for your help in staying focused - it is a huge relief to know that we don't have to worry about paying the mortgage in the current climate!

MMC

Trying_to_be_good

minimoocow wrote: »

It's all gone! . . . WE ARE EFFECTIVELY MORTGAGE FREE! :j

Brilliant news, well done! But oh so difficult to have a frugal month when you want to celebrate...:beer:

esthomizzy

[quote=esthomizzy;

I'm desperately trying to stick to my promise to myself to pay 1/3 of any extra cash at the mortgage. .[/quote]

I did it after much dithering I've paid off 1100 additional this week. That's 1/3 of the extra income I've got recently from an endowment and the lodger money (up front for a few months). Took immense willpower I was very tempted to spend it on things like double glazing and a gazillion other expensive things that need doing.

TheBees

Shazanny - I'm also annoyed about C&G charging £10 for every overpayment. I didn't realise until our statement arrived so now I'm going to pay off the fee - trouble is it's gone up to £10.50 with interest!:mad: