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

Lomcevak

Amazing that it's three years, isn't it?



With one payment to go, I finally know that I'll make my target - it has been a battle for the last 18 months or so to claw my way out of 'amber' towards 'green', but done it. £75k and a little bit repaid in three years. Now looking forward to MFiT-T5 and mortgage freedom

trix-a-belle

Hi all I'll try and get the new challenge up over the Christmas hols, hope everyone has a peaceful time

greent

trix-a-belle wrote: »

Hi all I'll try and get the new challenge up over the Christmas hols, hope everyone has a peaceful time

I'll be joining in with T5 for our BTL mtge. I was part of T2 and T3 with our personal mortgage and found these challenges (along with the yearly ones) helpful in keeping up motivation
x

Suffolk_lass

Ooh yearly ones. I haven't done them before... (I might have a rummage and see what I can find later, with a cup of tea). Must go and buy that final gift now

trix-a-belle

Actually mentioning the yearly ones, I've noticed a few people getting their challenger numbers getting muddled in the T3 updates I presume with their yearly challenge numbers, I'm not sure who runs the yearly ones but do we potentially need to work closer so people can have the same number for both?

Suffolk_lass

I have found what I think is the new 2019 thread - 162 posts so they are a little ahead of us. it is here - maybe ask people if they want to use the number they have there (but if they are carrying this one forward to the next MFiT challenge it could get messy). I don't mind. My plan is to try and clear ours completely in the next one, but we might go earlier and do it in 2019.

Have a great Christmas Trix and thanks for your work on this thread and your support elsewhere!

julicorn

trix-a-belle wrote: »

Actually mentioning the yearly ones, I've noticed a few people getting their challenger numbers getting muddled in the T3 updates I presume with their yearly challenge numbers, I'm not sure who runs the yearly ones but do we potentially need to work closer so people can have the same number for both?

Hi trix-a-belle, only just saw this post now. I run the 2019 MFW challenge, and if there's anything I can help with to make it easier to track people across challenges then let me know

pavlovs_dog

pavlovs_dog wrote: »

Our opening balance is £103,787.81 and I would like to reduce my mortgage to £75,000 in the duration of the challenge. Our built in OPs at their current level will take up to £79,522 so that leaves me £4522 to find over the 3 years. Ambitious but hopefully achievable (unless we have sprogletts in he interim).

Just sent in our final update. When the mortgage payment and OP go out tomorrow, our balance will be £73,522 :j

Looking forward to hearing everyone else's final updates. Now to plot what we hope will be our penultimate MFi3 goal...

Suffolk_lass

pavlovs_dog wrote: »

Just sent in our final update. When the mortgage payment and OP go out tomorrow, our balance will be £73,522 :j

Looking forward to hearing everyone else's final updates. Now to plot what we hope will be our penultimate MFi3 goal...

Well done you! that is over £30k paid off. Really well done!

Lomcevak

Final update from me: started on £134,986, and end on ... a green £59,907

So over £78k paid off over the three years, and I just squeaked past my target of £60k by a whole £93!

But when I set it at the start of MFiT-T4 I thought that £60k was pretty much impossible to hit, and would have been pleased to get under £70k, so very happy