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

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  • trix-a-belle
    trix-a-belle Posts: 1,532 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Mortgage-free Glee!
    Where does the time go??? :eek: Chart 11 coming later this month! Thanks to those who have already got their updates in
    - Mortgage: 1st one down, 2nd also busted
    - Student Loan gone
    Swagbucks, Mingle, GiffGaff, Prolific, Qmee & Quidco; thank you MSE every little bit helps
  • Thanks Trix. I've put my form through tonight.


    Glad to say I have already hit my target so Im going to try and get below 190k. One final push!

    MM
    xx
    Mortgage 1 - 01/2/2015 - £243,750 ; Mortgage 01/11/2024 - £132,576.55
    Mortgage 2 - 2019 - £76,600 ; Mortgage 01/10/2024 - £47,763.29
    MFit-T5 - reduce to £140,000 MFiT-T6 - reduce to £110,000

    01/10/2024 Daily Interest - M1 = £18.27 (!!); M2 = £7.41

    Debt at highest point in 24 -£21,344
    Debt 1st November 24 - £16,192.18 24% paid. Focusing on this in earnest!!!
  • Suffolk_lass
    Suffolk_lass Posts: 10,297 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    And I have updated my target to push on for the last three months too
    Save £12k in 2025 #2 I am at £4863.32 out of £6000 after May (81.05%)
    OS Grocery Challenge in 2025 I am at £1286.68/£3000 or 42.89% of my annual spend so far
    I also Reverse Meal Plan on that thread and grow much of our own premium price fruit and veg, joining in on the Grow your own thread
    My new diary is here
  • ang4k
    ang4k Posts: 61 Forumite
    Hi

    Thank you Trix for challenge. Also thank you everyone for your inspirational diaries as I’m sure I wouldn’t be where I am today without you all. I was very late to buying and not long till retirement so a final push over the next few years is all that is needed!
    MFiT-T4- reduce mortgage from 61000 to 40000
    2018 MFW no 17 : 8000/10100.00. 2019 MFW no 17: 2150/8000
    MFIT-T5-completely clear my £35000.00 mortgage
  • shala_moo
    shala_moo Posts: 3,272 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Hi all, hit my target of reaching £65k owed today :j - i'm working towards being mortgage neutral rather then actually paying the mortgage off.

    I'll carry on getting as close to £60k as I can before the next challenge starts as that will be the final push to become completely mortgage neutral!

    Hope everyone is doing well xx
    Mortgage amount at 31/12/2011 £166,050 now £0 as at Sept 21 - 15yrs 4 months early.


  • Suffolk_lass
    Suffolk_lass Posts: 10,297 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    shala_moo wrote: »
    Hi all, hit my target of reaching £65k owed today :j - i'm working towards being mortgage neutral rather then actually paying the mortgage off.

    I'll carry on getting as close to £60k as I can before the next challenge starts as that will be the final push to become completely mortgage neutral!

    Hope everyone is doing well xx

    Ooh me too! My balance is £65,000 in the next update and I am also going to try for £60,000 by the end of the challenge and clearing completely in the next one. Spooky!
    Save £12k in 2025 #2 I am at £4863.32 out of £6000 after May (81.05%)
    OS Grocery Challenge in 2025 I am at £1286.68/£3000 or 42.89% of my annual spend so far
    I also Reverse Meal Plan on that thread and grow much of our own premium price fruit and veg, joining in on the Grow your own thread
    My new diary is here
  • Lomcevak
    Lomcevak Posts: 1,026 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Lomcevak wrote: »
    Here we are again :) Now at £73,482 with £8,125 paid off since the last update, £61,504 since the start of MFiT-T4. Having a concerted dig at the mortgage right now, and pulled it back to £996 away from being green.

    Now need to pay off just under £13.5k over the final six months to hit the target, just a couple of hundred quid more than i've paid back over the last six months, so going to be close - need a rummage down the back of the sofa to get over the line :)

    I'm now at £66,633, which makes £6,849 paid off in the last three months, and £68,353 since the start of MFiT-T4. Need to pay off £6,633 over the last three months to hit my £60k target.

    I'm now £383 away from being green, so going to be very close - think I should just make it over the line with the last payment of the challenge..! :D
  • shala_moo
    shala_moo Posts: 3,272 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Ooh me too! My balance is £65,000 in the next update and I am also going to try for £60,000 by the end of the challenge and clearing completely in the next one. Spooky!

    Good Luck!

    It'll be a push to get anywhere near £60k with Christmas looming but every extra bit helps make it easier in the next three year challenge to get to our final goal!
    Mortgage amount at 31/12/2011 £166,050 now £0 as at Sept 21 - 15yrs 4 months early.


  • #62 reporting in :D I've updated for this quarter, I think I'll still be in the green and hopefully make target at the end. Good luck to everyone in the final sprint to the finish :beer:
    MFiT-T7 #17 (Jan 2025) £193k (Apr) £177k (July) £
    SPC 18 #6 £315.70(04/08/25)

    SPC’s (1)£27.19 (2)£728 (3)£1471 (4)£357 (5)£435.18 (6)£1114.92 (7)£1492 (8)£392 (9)£1952 (10)£1866.65 (11)£1177.74 (12)£1445.39 (13)£1608 (14)£603.30 (15)£672 (16)£2563 (17)£1300 (18)£
  • Kittenkirst
    Kittenkirst Posts: 2,468 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    I love reading all your updates and progress. If you run another one I'd love to be part of it :D
    First home- Oct’16 until June’21: £170.995- Overpayments made £13,784 (25% extra!).
    New forever home- Sep’21 £309,449 @ 2.05%. Plan to clear it before 30 years!!!!!!
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