Mortgage Free in Three Yrs

gallygirl

ailuro2 wrote: »

Dithering Dad - I'm pleased to remind you that your very first post thT ATrted off this wonderful thread can now be amended to say we are now TWO years into the challenge....:j :j

Thanks DD :T

MFiT No. 11 checking in!

Start - £53,300.48
Now - £35,472.85
Paid Off - £16,455.96

Approx £1200 down on target
Catching up quick
DS wants sub though, around 5k :eek:

Tallgirl, PM on way, thanks.

Dithering_Dad

ailuro2 wrote: »

Dithering Dad - I'm pleased to remind you that your very first post thT ATrted off this wonderful thread can now be amended to say we are now TWO years into the challenge....:j :j

Amended with pleasure . Can you believe we're 2/3rds of the way through the challenge? The only down side is that I'm only 1/3rd of the way through paying off my mortgage. It'll take a lottery win for me to complete the challenge now

If anyone is interested in the A&L 5 year deal, especially the overpayment T&C's, there is a thread on the mortgage forum with a lot of information in it on this and other fixed deals:

http://forums.moneysavingexpert.com/showthread.html?t=1578999

ailuro2

DD - you've still paid a massive amount off of the mortgage alongside pensions and living through a recession etc, so take heart that even if you don't meet your original goal you're stil in a much better place than when you started.

Who would have thought when we started this challenge that before it finished HBoS would be where it is, or that some people would be paying mortgages of 1 penny, or that someone called Fred would be getting a pension that could pay off all our mortgages?

Who knows what will happen in the next year - better check your ticket just in case, DD!:beer:

Trying_to_be_good

No 48 reporting in - like ailuro2, I have overpayments in savings accounts paying more interest than I'm paying onthe mortgage, so it's the net amount I'm 'scoring' for the challenge.

Start mortgage £139,000
Current Mortgage £55,250 (managed to cash in my endowment before the crash)
Net Mortgage £29,700 (fingers crossed I can get to nil in a year's time!)

PM on its way, TG.

Currently I don't get to live with OH, so we're looking at relocating together which might mean a significant mortgage increase if we find our 'forever' house. Then I can start the MFW challenge all over again!

setmefree2

gallygirl wrote: »

Thanks DD :T

:T:T:T

Dithering_Dad

I have finally finished my contract today (except some little bits and bobs that might come up). IBM (who I am subcontrated to) owes me over £40k and I'm starting to sweat! :eek:

Still, it should put a dent in the mortgage when it arrives, though I'm going to have to put it into the offset until my accountant works out the tax bill )

I start my new job next week though

angelavdavis

Dithering_Dad wrote: »

I have finally finished my contract today (except some little bits and bobs that might come up). IBM (who I am subcontrated to) owes me over £40k and I'm starting to sweat! :eek:

Still, it should put a dent in the mortgage when it arrives, though I'm going to have to put it into the offset until my accountant works out the tax bill )

I start my new job next week though

I would deffo be pushing for pay up time - every day!

Little_Mama

Dithering_Dad wrote: »

I have finally finished my contract today (except some little bits and bobs that might come up). IBM (who I am subcontrated to) owes me over £40k and I'm starting to sweat! :eek:

Still, it should put a dent in the mortgage when it arrives, though I'm going to have to put it into the offset until my accountant works out the tax bill )

I start my new job next week though

Might be time to remind them about the payment clause in your agreed contract with them

At least you won't have such worries in the new role

LM

Trying_to_be_good

Dithering_Dad wrote: »

I have finally finished my contract today ... I start my new job next week though

Does that mean more time at home? In time for summer? That's my aim at the moment, as well as the MF bit (of course!).

TallGirl

Just wanted to say thanks for all the updates, please keep them coming remember the forum is shut over the weekend.

I also wanted to say I cannot believe how quickly this challenge has gone 2/3 already that is amazing.

Not doing that great myself on the MFi3, had to add a bit more to my offset loan so in total now have £15k outstanding. Need to up the payments and pay more off.