Mortgage Free in Three Yrs

sallyb17

Hi all,

I haven't quite reached my target but am happy with my overpayments and my mortgage now stands at £103,910, a little above my target of £100,000 but far less than it would have been had I not began this challenge. Circumstances have changed since I originally committed, and I have also paid some cash into my ISA which has a higher interest rate than I'm paying on the mortgage.

Hopefully I can join in a new challenge soon and continue to chip away at the mortgage!

Congrats to all who took part in this challenge - it's been great and there have been some very encouraging results.

Thanks TallGirl for all the hard work compiling the tables - it kept us all motivated throughout the journey. Hard to believe it's finished so quickly!

Take care all - see you around somewhere on the forum :T :T :T

taka

Superfast_Gran wrote: »

In 2003 we spent £8K on on month's trip to Australia. We flew into Sydney and sayed there for 4 nights until we'd gotten or heads straight again. We then hired a campervan and drove from Sydney up to Cairns - visiting lots of lovely places on the way. We did our share of excursions - blue mountains, animal parks, whale watching, crocodile watching ay night, oh and bats too. We did horseriding through the tropical forest and on the beach. Luxury hot air balloon flight and champagne breakfast at 5 star Thala Beach - chauffeur driven there and back of course!! We snorkelled on my birthday - which was a hug achievement for me as I am afraid of water. We had an intimate, beautiful candle lit progressive dinner by the Murray River - only 4 tables of 8 - with a presentation by Aborigine people that we were encouraged to join in with towards the end. We did the waterfall route on the Atherton Tablelands, where we also dodged the marsh flies - evil little bugs, well, actually not so little. Cream teas, dinner on an evening yacht cruise, the night zoo, bbq's with the locals. Oh, and let's not forget the shopping!! We spent our last few days at a 5 star spa resort situated in Mossman in a tree house with hammocks on the veranda overlooking the river that was safe to swim and canoe in.

Sounds fab! Was that horseriding on Cape Tribulation beach? I did that and it was absolutely stunning!

ailuro2

FINALLY...!!

We got the discharge notice back from the solicitors today, so we are now officially the owners of this house, with no one else able to lay claim to it.(It's a Scottish law thing)

:j:beer::T etc....:D

taka

Congratulations Aliuro! :T

savvykaz

Hi all, number 111 checking in for the last time :wave:

My original target was to get my balance to £30,000 from £45,000 and I have only managed to get it to £38,880 due to several unforeseen circumstances cropping up! I am still chuffed though to only have a small mortgage and we too had a fabulous holiday to Australia last Christmas which cost us £7,000. Now I know some may criticise me for spending so much and not using it to pay off the mortgage but we really needed a break and the money was a windfall, otherwise we couldn't have afforded to go.
Our mortgage is due to end in 2021 and I am certain that we will have it paid off long before, thanks to tips and advice I have seen on this forum.
Goodbye and good luck to everyone.

hughmungas1986

Good morning everyone, MFIT 113 reporting in,

When we remortgaged at the beginning of 2006, we never thought that a little over four years later we would have paid off more than £ 50000.00.
Although we had plans in place to pay off our mortgage as soon as possible, joining the challenge, seeing how other people were doing and taking on board peoples advice gave us the spur we needed to realistically reach our goals.We are now within £ 17000.00 of reaching that goal and owning our own house :j:j:j

Thanks to everyone who has taken part in the challenge particularly DD and TG, although everyone who has stuck with it and reached the end should be congratulated. Well done to all those who are now mortgage free.

hugh :beer::beer::beer:

ailuro2

http://forums.moneysavingexpert.com/showthread.html?t=493240

for those who have finished with their mortgage, don't forget to take your place in the Mortgage free roll of honour to inspire others, it's a mere 8 pages long instead of two hundred and something in this thread...

http://forums.moneysavingexpert.com/showthread.html?t=493240 :beer:

TheBees

TheBees signing in here for the last time.

Our aim was to pay off £10k I think and we are just short of that at £9k.
Like many others we too could have achieved our goal if we hadn't had a skiing holiday!

Thank you to the organisers for running this thread and good luck to everyone in one day clearing their mortgages.:j

ailuro2

TheBees wrote: »

Like many others we too could have achieved our goal if we hadn't had a skiing holiday!

we had holidays too, some quite big ones, and a few little getaways in between, life is too short to go without ALL luxuries just to overpay the mortgage, but there is a balance, we are in the habit of not wasting money now, so we have even more left over to spend on more holidays.:beer:

I think it's called a virtuous circle.:D

mojo_jojo

Hi all,

Just to say that since passing my £18k target last month, I've tried my hardest to reach my secondary personal target of getting my original £121k (approx.) mortgage under £100k and I've just done it.

Used the bonus my company gave me to pay off even more (and my overtime they owed me for the past 3 months also finally came through).

Sent the details to TallGirl, but now which mortgage challenge can I join??