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The Mortgage Free in Three - Take 5 challenge (MFiT-T5)
Comments
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I'm very happy to report that this morning I have phoned my bank and paid off the last little bit of the mortgage! But I'm not counting myself as mortgage-free quite yet, I still have just under £9k that I transferred onto 0% credit cards... so until that's all gone I'll be hanging round here and continuing to report in for the spreadsheet - hoping to have it all paid off by this time next year.For the next few days I will be obsessively checking my online banking to see that mortgage at 0.00 until it disappears!!MFiT-T5 #52 - aiming to clear mortgage completelyJanuary 2019: £19620 ~ November 2021: £0.00!11
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Congratulations! I can’t wait to do that one day.Reduction in daily mortgage interest since October 23 (new mortgage) - £2.84 December 25
% of house owned/% of mortgage paid off. December 25 - 40.34%/33.36%
MFiT-T7 #21
MFW 2025 #2
MF Date: Oct 37 Feb 374 -
Great to see the progress continuing to be made.
Just a reminder that this month is chart month (i'm not quite sure where that came round from
) so look forward to seeing some forms come through - Mortgage: 1st one down, 2nd also busted
- Student Loan gone
Swagbucks, Mingle, GiffGaff, Prolific, Qmee & Quidco; thank you MSE every little bit helps3 -
Apologies @trix-a-belle, I haven’t updated any of the charts till now. Let’s just say that things haven’t been going to plan but hey ho, you win some and lose some. I have sent in an update today and my balance is now £263500. Thanks for updating.MFW 2022 #38 - £1389.05 / £15000
MFit-T6 #18
Mortgage (30yrs): Feb 2019: £280k, May 2020: £267k, Jan 2022: £311k
Goal: Mortgage free in 15 years – 20354 -
Congrats to all those that have reached their targets in becoming mortgage free in these past few months.#4 here having called time on any more mortgage payments for July and have just submitted update for Form 6. So, now halfway through this challenge. I’m pleased to report that the mortgage stands at £81,625 which is a £6,374 reduction over the past three months and, by my dodgy calculations, a £38,575 reduction since the start of the challenge. Onwards and downwards.... thanks,9
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Just submitted for chart 6
MFiT-T7 #17 (Jan 2025) £193k (Apr) £177k (July) £159k (Oct) £139,900 (Jan 2026)
SPC 19 #6 £29.50
Regular Saver A/C (24/25) £2800 (25/26) £
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)£353.50 (19)£0 -
It's been a while since I could make any headway into chunky repayments as I have been building up our savings given the current situation but now our savings goal has been made I can siphon all excess cash to the mortgage. I expect to meet our £8210 overpayment goal this year. It does mean I'll be £5k away from the goal at end date as I was not able to make the full 10% last year but the mortgage will be considerably reduced at the end which is the main thing.6
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Checking in with my update and lovely to see the progress people are making. I’m now at $495000. I’ve paid off $65k since the start so I’m on track 👍5
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Hi, just updated for Chart 6. I'm getting impatiently close to finishing now.
USNeither a borrower or lender be; for loan oft loses both itself and friend.1 -
Hi, I have just sent a cross a chart. Thank you for all your hard work.Mortgage Aug 2019 161,000 :eek::eek::eek:Nov 2019 156,500:T Jan 2020 153,122:T, Apr 2020 149,500, Apr2021 139, 675, Oct 2021 136,823, Dec 2021 136,120🙂EF 0/12,000 (0%)😕 (5062.44 was ERC), Jan 2023 128,650. Our Mortgage is never going to be as high as it is today. :jOnwards and downwards to a better life for our family. :jJust keep swimming1
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