The Mortgage Free in Three - Take 4 challenge (MFiT-T4)

julicorn

I'm not part of this one because we only started overpaying in April, but would love to join the T5 in January I think three years is a great amount of time to focus on some bigger goals.

ang4k

Hi

Thank you for keeping the charts going. I definitely find it a real help to keep on track with my over paying as I don!!!8217;t have a diary of my own. If you do a t5 then I will hopefully be on the last 3 years so will be good for me. I!!!8217;m not very tech good so I realise it is a lot of work for 1 person. Yes hopefully the people that don!!!8217;t always report will be able to update at the end so we know how we have all done overall

Thanks again

Anagran

Hi,

Thanks for the updated chart. As expected I am well and truly in the red zone. Have enjoyed being part of this challenge though, and would be keen to take part again.

trix-a-belle

Thanks for all the feedback, definitely won't be stopping it but is good to get a canvas of opinions & check it is working for people especially as this is the first I have run

shangaijimmy

I too would like to be involved in the next 3yr challenge. Actually the next 2 x 3yr challenges as we'll hopefully clear in the second one.

I also agree that 3yrs is about right as it shows a real impact on mortgage. For us to be on the verge of £40k paid off the balance is so motivating.

Thank you as ever for running the challenge.

ajmoney

Hi, no 70 here. Today is day 1 of our remortgage, now I have the figures I would like to change my target for January to £74k. Do I fill out a form as a newbie or how best would you like me to send these figures through?

trix-a-belle

ajmoney wrote: »

Hi, no 70 here. Today is day 1 of our remortgage, now I have the figures I would like to change my target for January to £74k. Do I fill out a form as a newbie or how best would you like me to send these figures through?

Please can you pop a form through & i'll pick it up later. You can just revise your final target in the joining form 'provide an update' option, I assume you want to just amend your original challenge target.
Alternatively I can add a part b or give you a new number, let me know in the form comments if you want that instead.

pavlovs_dog

just sent my update through. Can't believe that we are just 3-4 months from hitting our target :j

Suffolk_lass

Our mortgage is a base rate tracker of some 15+ years standing - 0.49 above the BoEBR. Rather than sitting here on hols reading trashy novels, I have been thinking and doing some spreadsheet work on my ancient laptop.


I had got our repayment interest down to just under £62 a month before the 2nd Aug 0.25% rise. This will cost us an additional £180 a year.


Not happy. Have just paid a lump out of our emergency fund to pay down the mortgage by just over £4000 to begin to redress this. I am considering really pushing on now to offset the total interest increase in capital investments and savings returns, combined with paying down the capital loan more quickly.


I will need to put in another form to update our total for the remainder of this challenge. Need to do some planning first...

greent

I'm up for T5.

We became personal mtge free in T3 (I did T2 challenge and may have managed to join T1 part way through - can't remember now) We're now looking at the BTL mtge and have joined the yearly challenge but I do like the longer 3 year challenge alongside it. I'd like the BTL mtge to be fully gone by the end of T6