Mortgage Free in Three Yrs

taka

Carlsberg don't worry... you can only do your best! My mortgage/house related debt has INCREASED since I started this quest :rotfl: (sorry for letting the side down...:o )! I agree with everyone above... its not a competition and every little helps. In my case I've put a card in my purse to remind me to question whether I NEED to buy whatever or just want to!! Oh it also says that even overpaying (saving in my case) by £5 a month will decrease my term by 3 months! V motivating when I'm about to spend on non-essentials/crap!

I've joined a couple of challenges on DFW board to try and combat the increase and its very motivating! Why not join? In fact the Olympic Challenge Take 2 starts on Saturday 14th. I've signed up to (try) to raise £1000 by mid Dec. Don't know if I'll make it but even if I only get £100 its £100 i would have never got round to making/saving. I've signed up for things like pigsback and quidco to get money for things I would do or buy anyway and for the free clicks to get extra money/vouchers for no cost (except time... in my case time usually spent slumped in front of the TV watching rubbish anyway!:o ) I'm also doing various surveys too and am going to try ebaying too. Its never going to make a huge dent in what I owe but every little helps!!

Dithering_Dad

Hi carlsberg! I can only echo what the other guys have said. It's not a competition and no one is judging anyone else. I don't think any of us find it easy to stick at the MFiT challenge - it's such a long timescale and lots of things can impact the challenge. I'm doing well at the moment, but if I have trouble finding my next contract, I'll soon be digging into my offset and moving my mortgage payments the wrong way!

It's a marathon not a sprint and just because you're not doing so well this year, who's to say that things won't get better next year or the year after.

Let me know if you want to continue and I'll reinstate your name on the OP .

Desperate_Housewife_2-2

Hi everyone! I have been lurking on this thread for a while and was hoping I could come out to play with you lot. I've pm'd you Dithering Dad, hope its not too late to join in.

My mortgage was £41k in April and I have been battering it down like a good 'un for a couple of years now (was £67000)

I would definitely benfit from some peer group support on this one as all my mates think I'm a bit 'weird' for wanting to pay it off!

I'm always looking for ways to shave down costs too, especially on interest and have just got a capital one card at 1.7% bt fee o% interest till may 2008 and will put the BT amount into my Virginone account. I've stoozed for ages but its thin pickings now.

Anyhoo, looking forward to chatting on this thread, bye :0

taka

:hello: Hi all newbies.... welcome!!

I'm not putting my actual figures up this month as its all too confusing!! Nationwide made a wee mistake with my mortgage which is being rectified and the loan (now 3yrs not secured... ) for my renovations has been approved so both of those should sort themselves out/start before the next TG table update in early Aug and I'll have a better idea of whats going where :eek:

Ummmm can I still stay as part of MFiT despite now having a loan too (total is approx £55k for mortgage+loan)? I was always going to borrow money for bathroom renovations (hence the approx 54k listed as my starting amount for this challenge - mortg actually at approx 48.5k ish at mo). If all goes to plan I'll be able to pay loan off a little before the end of this challenge and still save a bit more to overpay the mortg too! :think: Pretty please:p

Dithering_Dad

It looks like the decision to consolidate the MFiT membership and to close the membership after 6 months has created a reign of terror throughout the MFW ranks!! :rotfl:

Don't worry - no one will be deleted or excluded for not posting for a while or if their mortgages start going positive!! Plus if after the 6 month deadline passes and someone really really wants to join, I'd not stand in their way!!

taka

:T Cool!! :T

:rotfl: :rotfl: You would have trouble getting rid of me anyway!!:rotfl: :rotfl:

Desperate_Housewife_2-2

Thanks tallgirl and Dithering dad for letting me join in!

I feel quite excited now I have an actual number (88) and it all looks serious and important now its written down for all to see!

I'm really looking forward to doing this as my OH is working too hard and it will mean he can drop at least one day a week and go part time. I fit my work round him as a temp so one of us is always at home, it means I either have loads of money or none!

Good luck to everyone with this challenge

benbenandme

I am allowed to make 10% overpayments a year and due to my house move last month I have already gone over that this year. However, I had a bright idea and phoned up the mortgage company, and because I ported the mortgage to a new address and therefore have a new mortgage account number their systems can't tell that I've already done the 10% this year and they said I can do another 10% !!!! Yay !!!! Obviously I need to find the money first :rolleyes: but it does mean I can actually pay off some of it rather than having to save the money to pay off next year!!
There isnt a branch though where I live now so I will hav to post cheques but hey-ho, at least I can pay it now!!:j

Carlsberg

Thanks for the support everyone. Im going to give it a go, but 1st, some advice. Im with northern rock (is any one else) and my mortgage on my statements only seems to move by a few hundred pounds, when ive paid thosands? is that usual, im presuming its cos the interest is so high. Im going to put details of my last statement on here, and let fresh eyes have a look if no one minds. Im finding it a minefiled, working out what difference small anounts will make, so any help will be good. Ill update you all tomorrow and keep with it as best I can. Will have to start properly in Sept though, cos im getting married in 36 days. Wohooo. Dont worry, weve done it on a budget, a real one, not £15000 like some people seem to think is a budget. It should be a lovely do. Cant wait. x:p :T

Carlsberg

DD. After my terrible negative time, can i come back to the challenge, it might only be a fiver a month, but if that knocks of a few weeks, its better than newt! Can you tell me what my number is and ill give a balance update tomorrow?:j