Mortgage Free in Three Yrs

jobbingmusician

Update from me

No longer unemployed, although not earning a tremendous amount. I've still managed to overpay a little every month, and have also started match betting - hoping that this will continue to bring in the money which I can throw at the mortgage! At the moment I have kept my MB money in the bookies concerned to ensure I have enough liquidity to take on some of the bigger offers.....

Balance as at 1st April is ....... I can't remember! I typed it directly into a PM to Tallgirl, so you will all have to wait and see! :rotfl:

(Just over £17.5k) :T

[Deleted User]

I also PM'd TallGirl but I'll add my ritual quarterly comment to this thread: our current mortgage balance is £30,663.68 (as at the end of March), and we're well on target for meeting our goal a year from now. At the end of this month we'll pass the £30k mark - and will have paid off five-sevenths of the capital. So it's all good stuff.

setmefree2

LookAfterThePennies wrote: »

Number 92 reporting in - just updated my latest figures - Started quest with £56,000 owing, now down to £11,805.
And just booked a holiday to celebrate our mortgage free date which will hopefully be end of August 09 all being well.

A big fat well done :T:T:T

setmefree2

Marvin_the_Martian wrote: »

I also PM'd TallGirl but I'll add my ritual quarterly comment to this thread: our current mortgage balance is £30,663.68 (as at the end of March), and we're well on target for meeting our goal a year from now. At the end of this month we'll pass the £30k mark - and will have paid off five-sevenths of the capital. So it's all good stuff.

A big fat to you too :T:T:T

setmefree2

£250,000 Mortgage June 2003
£ 67,443 Payments/Overpayments 2003-2007
£182,557 Mortgage April 2007 - MFi3 Challenge start date
£ 23,081 Payments/Overpayments
£159,476 Mortgage April 2008 - MFi3 Challenge plus 1 year
£ 40,785 Payments/Overpayments
£118,691 MFi3 challenge plus 2 years


:T:T:D

Trying_to_be_good

setmefree2 wrote: »

£250,000 Mortgage June 2003
£ 67,443 Payments/Overpayments 2003-2007
£182,557 Mortgage April 2007 - MFi3 Challenge start date
£ 23,081 Payments/Overpayments
£159,476 Mortgage April 2008 - MFi3 Challenge plus 1 year
£ 40,785 Payments/Overpayments
£118,691 MFi3 challenge plus 2 years

And well done to you, too! :beer:

Desperate_Housewife_2-2

Just read all your posts and everyone seems to be doing very well indeed. So glad we started this thread and I can't ever see me going back to being a big spender (not that I ever was really)

I am looking forward to reading the new update so thanks to Tallgirl for doing it for us.

Hope you are all enjoying the Easter weekend.

I must admit, I have noticed a definite increase in everything except mortgage interest rates so it is a good time to pay it all off. My hubby is being slowly driven mad by work stress so he is ready to leave, made much easier by lower outgoings. Hoping to live 'rent free' at the end of this challenge and work less!

:easter_ba here are some easter eggs for everyone, share nicely!

Kaz2904

Well the way my shifts have worked out has meant that I was off last week with the children but am on 4 nights this weekend (I started last night). DH took Thursday off so that we could see each other and I made him spend the day in the garden and going to the tip (poor thing).
He's taken the children off somewhere so when I got up I went out into the garden for 45 mins and now have another 8 rubble sacks ready to go to the tip.
Anything we manage to grow will bring down the bills!

Had a little chat with myself about the bungalow and thought I would probably end up murdering DH if we did move there and I had to live in a building site for the next 20 years so won't even go and look at it. It's nice to dream but our house still isn't finished after nearly 4 years and I don't think it will be done in the next 2 either. It's looking shaky as to which will happen first, clearing the mortgage or finishing the house!
Can't wait to see the chart, to see how we're all doing! Hadn't realised that 5 people had made it already though, how jealous am I?!

sunnysea83

my mortgage is £175k on interest only, only taken out last october, i just want to start reducing it, im on an interest only base rate tracker so since i first moved in my payments have gone from 850 pcm to 220pcm so if i paid the 600 i save a month in to mymortgage would that make a big help, also my mortgage will only allow x amount repayment a year, would i be better paying it in to a svings account and then saving it all up and paying a masive amount off next oct when i need a new mortgage?

Redbedhead

I have pm'd TallGirl my update but thought I would add it here.

Things have picked up on the mortgage repayment front. After I got made redundant (just before the last update) we were quite careful in terms of overpayments, trying to make sure we had cash available if it took a while to get another job.

Luckily I found a new job by the end of January and managed to negotiate to start early March meaning I didn't return to work until after my baby turned one.:T
New job has been working out well and pays the same as my previous role but for slightly less hours and is FAR more family friendly than my previous job, so I am happy.

All of the excess from the first salary payment went against the mortgage and although we won't be continuing to do that (we are saving up to afford baby number 2 now!) it felt good to get it down a bit. Plan is to continue to pay off an extra £800 a month or so, obviously factoring in some other savings plus a couple of holidays this year now the baby is old enough to enjoy playing in the sea etc.

So, balance at
17/10/07 (house move date) £205,000
at 5/4/09 £193,412
Paid off £11,588
Paid off in last quarter £3,178:T