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2016 mfw

edited 3 July 2016 at 7:56AM in Mortgage-Free Wannabe
1K replies 84.1K views
1457910105

Replies

  • Hi


    Can I join again please, number 85? I think we'll try for £2500 which will probably be a bit of a stretch but there's nothing like a challenge to motivate you!


    Thanks for running the thread :)


    TSG
    Mortgage [STRIKE]£126746 DEC14[/STRIKE] [STRIKE]£122423.53 DEC15[/STRIKE] [STRIKE]£115041.70 DEC16[/STRIKE] Remortgaged Sep17 to pay off HtB loan £150000 - £140500 JUL19
  • LomcevakLomcevak Forumite
    949 posts
    Eighth Anniversary 500 Posts Name Dropper
    ✭✭✭
    emg wrote: »
    I'd like to join this challenge this year for the first time. Is my target meant to be just for the over payments or include the normal payment too?

    There are so many different types of mortgages and personal circumstances that there aren't really particular rules of what is and isn't an overpayment - most people only include additional payments, but some include both regular and overpayments, and others have interest-only offsets etc. where the difference is a bit blurred anyway.

    So the only thing I'd suggest is to pick a target that motivates you to go a little above and beyond what you might otherwise do in 2016 - ultimately the goal of the thread is to provide some extra support and motivation to attack the mortgage, whether it's to become mortgage-free for good or to bring the next step up the ladder a bit closer.
    MFiT-T5#6, £50k to zero: £49,907/£49,907 (100.00%), 2020 MFW#8 £4,763/£4,763 (100.00%)
    £50k-in-’20#27 £39,676.24/50,000 (79.35%)
  • mortgage_girlmortgage_girl Forumite
    880 posts
    Part of the Furniture 500 Posts Combo Breaker Mortgage-free Glee!
    ✭✭✭
    Can I join up again please. I found this challenge really motivating 'last year' and would like to challenge myself to pay off £11,000 again. If possible, please could I keep last year's number - number 77?

    Thanks very much Lomcevak.

    MGx
    :jMortgage free 08.08.19 :j
    2018: £19410.25 / £9,300 2017: £7646.64 / £11,000 2016: 4557.98 / £11,000 2015: £10,230.37 / £11,000 2014 =£6703.26 / £11,000 2013 = £4288.51 / £8000 2012 = £1600/£5000 2011 = £2579/£3000
    MF date was Nov 2041 - mortgage neutral 23.07.18

  • edited 31 December 2015 at 3:36PM
    XSpenderXSpender Forumite
    3.8K posts
    Part of the Furniture 1,000 Posts Name Dropper
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    edited 31 December 2015 at 3:36PM
    Please may I join the challenge?

    We want to move home by the end of 2016 and need to build up a much bigger deposit than the equity we currently have available.

    My target is £20,000. Taking our balance from £117,500 to £97,500.

    Thank you :)

    If nobody wants it/its not a faff on for you could I possibly be number 13?
    PAYDBX 2020 £7,454.29/£9,000 82.8% by Dec 2020
    Target Loan - £493.43/£493.43 by Nov 2020 - SIF September 2020
    Target CC - £1050/£825 by Jan 2021
    Emergency Fund 31.12.20 - 100% - Achieved October 2020
    FFEF 30.06.21 - 0%
    Days since CC used - Christmas Eve 2019 - 329 (7 in 2019 + 2020)
  • utopiahutopiah Forumite
    309 posts
    Part of the Furniture 100 Posts Combo Breaker Mortgage-free Glee!
    ✭✭
    Hi I would like to join in again. If possible could I keep No.43 I am going to go for a target of £10,000. Hoping to have the mortgage down to £40000 by the end of 2016.
    Mortgage free 25/9/2019 8years and 7 months early 😁😁😁
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • pavlovs_dogpavlovs_dog Forumite
    10.1K posts
    Part of the Furniture 1,000 Posts Combo Breaker
    ✭✭✭✭✭
    Can I report my first OP of 2016 before I forget? Built in OP of £410.03 + £76 from my 1% challenge gives a January total of £486.03. / £6000 or 0.08%.
    know thyself
    Nid wy'n gofyn bywyd moethus...
  • bunty109bunty109 Forumite
    1.3K posts
    Part of the Furniture
    ✭✭✭
    My first OP pencilled in for tomorrow. Rounded up an insurance refund so £24 for Jan so far.
    MFW 2019#24 £9474.89/£11000 MFW 2018#24 £23025.41/£15000
    MFi3 v5 #53 £12531/
    MFi3 v4 #53 £59442/£39387
  • Hi Lomcevak,

    Please can you put me down for £6468.73 this year. This will take our mortgage down to £110,000 :j
    Mortgage - £105,500
  • jodles16jodles16 Forumite
    1.5K posts
    Car Insurance Carver!
    ✭✭✭
    Hello not sure of number yet but first standard OP of £310 went out today and added a extra £100 to start the year! So Jan total is £410!

    Jodles :D
    MFW2020 #115 250/3000 J-250
    1% challenge- /1525
    Save 1k in 2020- /3000

    Joining in UberFrugalMonthChallenge set up by the Frugalwoods!
  • ajmoneyajmoney Forumite
    5.7K posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    First OP of the year made, £114 for no 70. Thanks Lomcevak
    2020 MFW No. 70 £9717.62/£10000
    MFiT-T5 No. 70 £17061.11/£27506.08
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