Mortgage Free in Three Yrs

ailuro2

Dumbledore 55, that's phenomenal!!:j

Not many of us who haven't done better than we ever thought we could when we take the lower interest rate effect into account, but to do TWICE as well is simply fantastic.

There is another MFi3 thread.... but you're probably well on the road to being mortgage free, you're into good habits that won't be broken for a long time ....

I thought the original end date from one of the the first posts was 16th April, forgive me if I've got it wrong, I agree with financial bliss's suggestion to have a cut-off point for submissions of figures to TallGirl.

Mudbath

Well done everyone for taking part however much or little you paid off - it all counts!

We're down to £77500 - didn't quite get to £70000 but as we started at £110000 I'm really pleased with how we did!

Now to carry on xx

Mudbath

I'm up for continuing - still got a way to go!

Well done DD - you've done a fab job xx

Dumbledore55

Me too - love having to account to someone every so often - really helps focus my mind.

Trying_to_be_good

DD10 wrote: »

As far as the MFi3 challenge is concerned, if anyone is interested in keeping this thread going until everyone on the list pays off their mortgage (well, everyone who is interested in continuing), then I'd be game. I'll soon have a whopping £300k mortgage that I'll want to dispose of ASAP, but would be happy to keep working to my original aim of £150k (now £95K).

Wow - my post-MFiT new mortgage is also a whopping £300k, so I'd moved over to the MFiT Take 2 thread, but I'll happily hang around here, too, with my old buddies. I'm reckoning on this being paid off in ten years at the earliest, barring lottery wins (when I don't even play) and major inheritances (I don't have rich rellies, so think I'm safe there, too!).

Susiesue

well this is it - the final check in for the challenge. As of this morning, my mortgage balance is £57,633!!! This is a massive £37,000 lower than it was 3 years ago and £6,300 lower than the original plan for the challenge. YAY!!!

A huge thanks to TallGirl, Dithering Dad, the cheerleaders and everyone who's taken part in this challenge for supporting us every step along the way. We would never have been in this position had we not signed up and been accountable to you all!! The money would have been blown on wine or something instead!!

Well done to all those who have managed to pay off their mortgages and to those who have made overpayments big and small. I'm off to join the MFiT take 2 challenge where I hope to reduce the mortgage to £6,000 by December 2012.

Best wishes SS xxx

benbenandme

Hello, another one reporting in for the last time I started this challenge just before I moved house, from the home I lived in when my ex left us My mortgage then was £126k and shortly reduced to £60k once I moved. My aim was to get it down to £50k which, at the time, seemed a huge challenge. Over the last 3 years I've managed to achieve this and more, and my final figure today stands at £37, 562 :j :j I have also put my flat on the market in the last couple of weeks and am hoping to move to a little house with a garden This would never have been conceivable when the challenge started so I am immensely grateful to every one of you on here for the mutual support :T :T Once I move my mortgage:T will be going back up to approx £80k :eek: which sounds a huge amount, but having done this challenge I know it can be paid off relatively quickly, and am looking forward to the challenge already
Thank you all of you again, I've loved this challenge and wish you all well on your journeys, with or without a mortgage

Kaz2904

Only the other day I was looking at my sig and wondering whether or not I could bring myself to remove MFi3 from it. It shows our financial position on 16/04/07 and now. I had decided that I would actually like to keep it but I will move the current challenge to the top. It helps me to see how far we've come.

I'm still not able to update, will be able to get a better picture after Easter I think. I need to ring the mortgage co and find all the ISA stuff. Then round up all of the accounts. It still won't be enough for me to have hit my target though. What a shame. Never mind, onward and downward!

Moneygoes2money

Hello everyone

MG2M reporting for the last time. At the start of the challenge our mortgage balance was £152,414.09 and our aim was to reduce it to £123k. Our balance is now £118,160.19. Mission accomplished.

Thanks to all those who have posted in this forum, it helps alleviate the boredom at work. Good luck and best wishes to you all.

Regards
MG2M

CaroB_2

Hi everyone,

I haven't posted very often on this thread but have been keeping up with the challenge and how everyone's getting on - it's wonderful hearing how so many people are now mortgage free!!

So, I started with an £83K mortgage at the beginning of the challenge and aimed to pay off £20K. I set a low figure because at the time OH was out of work & I wasn't sure how much I'd manage to overpay on my own. Still, he got a job a year into the challenge and so we've been overpaying a good amount monthly since then.

New balance (as at yesterday) is: £55,185.68, so we paid off almost £10K more than I'd planned. I've joined up with the MFi3-2 challenge to try and get this down to £40K.

Thanks everyone for taking part in this challenge & I wish you all the best for the future!!

CaroB