Mortgage Free in Three Yrs

Kerfuffle

Hi everybody,

Just popped on to say well done for passing the finishing line of the Mortgage Free in 3 challenge.

A special well done to all those that have cleared their mortgages, and a very well done to all those still working away at becoming mortgage free, keep up the good work.

:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T

FrugalNotTight_2

It's been ages since I've since this web site. I am 42 - FrugalNotTight and I completed my mortgage in February of this year. Wow it feels good. The question is; "What on earth should I do with the cash I was using for my mortgage?" I am going to see a FA in May but I have no idea what to say. Does anyone have any ideas please?

RosieTiger

Congratulations to you all and thanks for the inspiration for all of us still on the journey !

hughmungas1986

Afternoon all,

I'm still on my MF journey although I've not far to go.

Managed to get the mortgage down to under 4K now, not currently over-paying as topping up the ISA for this year.

I can't believe that later this year we'll be rid of the mortgage, reading the various threads on this site over the years inspired us to join the MFiT challenge and budget accordingly to strive to be MF but still let us have money for holidays, nights out etc.

Thanks to all who have posted over the years

hugh :beer:

firesidemaid

Hi HM, all...

I am still subscribed to this thread. I haven't joined another, but continue alone dipping in and out of the MFW board.

Well done FNT and also HM on being nearly there.

I am still plodding on, relishing each time i drop below another milestone. I automatically o/p by £740 a month due to low interest rates, but was hoping to be further along before the rates start to go up.

I still use ebay as a source of income but have been doing some much needed home improvements with some of our money.

Keep on keeping on all!

abouttimetoo

Hi all

I used to follow this thread avidly when I first discovered this site and started OP'ing in 2008. You were all a great inspiration and I was envious I couldn't join this particular thread challenge. You all did amazingly well and I'm now part of the MfiT (T2) challenge and the guys and gals on there continue to be a great source of inspiration

jobbingmusician

Hi all. Sorry it looked as if I dropped out. I just wanted to say that I decided not to be MF. I have left £2000 outstanding in my mortgage... :rotfl:which I could pay out any time. I've kept the account open because it's a flexible mortgage and gives me access to £150k of cheap credit any time I want it. :beer:

SO I'M THERE REALLY. (I think I made it just after the 3 years, but without a regular job for quite a bit of it. Now in well paid and very busy job again! :j)

TallGirl

What a blast from the past. I did make the challenge but is still on this word and I am trying to save up for a holiday home in Denmark.

Frugalnottight I would be careful with an IFA we went to one in the end his advice was our pensions were ok and we did not need to have any other insurance. What a waste of £850 felt a bit sick paying to be honest especially as he did not spot I was not getting any tax relief for my extra payment to my company pension. I am sure you could get plenty of advice on here. Anyway spending some of our spare cash now the mortgage is paid of on a holiday to Mauritus off this evening cannot wait.

Being mortgage free has also helped DH take a paycut while the business is coping with the hard times in manufacturing (it's his own business).

FrugalNotTight_2

Thanks TallGirl and a blast from the past indeed.

Yes and thanks for the info. I'm going to see a FA from Natwest and then a private one and see what they advise me. Bit poor that your benefit wasn't noticed. Shame on those professionals.

Thanks for the response and I hope you have a great holiday.

FrugalNotTight

Superfast_Gran

esthomizzy wrote: »

Where are all the challengers who haven't completely paid off going to go now for inspiration and motivation? With 200k odd to go I don't think I'm going to be able to pay off in 3 but I would like to carry on sticking to a challenge for another period and to my current projected period of 13 years 8months. The other MFi3 group is a year in already though. Is anyone joining them or shall we have a follow on group of our own?

I joined the other one when it became clear that I wasn't going to get much further with this one but it's now closed to anyone else. I've been away from it more often than not - various problems plus moving house etc - for the past while but I'm hoping once we get most of the unpacking done and all the bits 'n' pieces fixed that can't wait, that we can get back to overpaying our now almost doubled "huck spit" mortgage. These threads do help so I would say yes, definitely start another one as there will always be people wanting to fight the good fight. It doesn't matter how much you overpay as the bottom line is that you will reduce your overall term and therefore the interest paid. You will continue to see others overpay way more than you or way less than you. I say again, it doesn't matter. It's just good to know that you're making a dent no matter the size and that not only are you getting encouragement from others but you will get ideas on it all as well on how to cut corners etc. This is all a long-winded way of saying I'd hate to be without you guys and the others that will undoubtedly pitch in. Soap box over, well done to everyone but especially those who reached their goals - just don't forget us xx