The Mortgage Free in Three - Take 5 challenge (MFiT-T5)

Mortgage_Minimiser

#59. Chart updated, Now at £167,288.09. On plan.....

Good luck everyone

MM
X

Cheery_Daff

Ooh, when's the cut off? Our building society doesn't do online, so I need to remember to ring when they're open for a balance. It's like being in the 1950s! :rotfl:

Brodiebobs

Cheery_Daff wrote: »

Ooh, when's the cut off? Our building society doesn't do online, so I need to remember to ring when they're open for a balance. It's like being in the 1950s! :rotfl:

So annoying isn't it. I use my credit report, but there is a bit of a delay.

Suffolk_lass

Cheery_Daff wrote: »

Ooh, when's the cut off? Our building society doesn't do online, so I need to remember to ring when they're open for a balance. It's like being in the 1950s! :rotfl:

25th Jan for this quarter (quarter 4 - we will be one third the way through... already :eek:)

fruitloop04

Hello!

#56 checking in as I doubt there will be anymore payments from me before the 25th!

Current balance is £132,154.30. Will be slightly behind still I think, bordering on slipping in to the red but I have high hopes for clawing it back!

icklehelen

Just submitted my form for chart 4.

Definitely ahead of plans - DH has convinced me to take a leap and use some savings that were no longer earning more than the mortgage costs.

Thanks to these challenges I can see the finish line!

ickle

trix-a-belle

icklehelen wrote: »

Just submitted my form for chart 4.

Definitely ahead of plans - DH has convinced me to take a leap and use some savings that were no longer earning more than the mortgage costs.

Thanks to these challenges I can see the finish line!

ickle

its definitely looking very good icklehelen!!! :j
its good to hear your DH is on board, have you got a treat planned for when you have the mortgage paid off?

Fruitloop its not a sprint so don't worry any steps are making progress

pavlovs_dog

I've just sent my update so I don't forget. We've cleared just over £10k in a year. A third of the way to our target a third of the way in to the challenge :j

Cheery_Daff

Chart 4 form submitted :j :j

Balance now £198,300 (apparently my bank is stuck in the 1950s, so there's no online banking, and they can only provide a balance to the nearest £100 :rotfl: :rotfl: )

Still, some progress at least (according to my own spreadsheet anyway), and I've upped the monthly payment by £10.01 which should on its own save us £1847 in interest over the next 20 odd years :rotfl: :money:

miss_undastood

Hi. #46 here. Had a few life changing events in the last few months.

When I started this challenge 12m ago I had 2 mortgages. A big one at a high rate and one that is less than 1% above base rate. The rate is so low it’s negligible to me and almost isn’t worth paying off!

Fast forward 12m I have now taken out a further advance (at a lower rate than my big mortgage) and a BTL interest only mortgage.

Now my original goal was to reduce my big mortgage. This is still my primary focus. It’s the highest rate. So as such am I ok to continue to declare how I’m doing against paying this debt down and effectively ignore the other mortgages for now?

Thanks #46