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

trix-a-belle

DiscountDuck said:

@trix-a-belle thanks so much for having done this, it’s made a huge difference to me and kept up motivation where it would have lapsed otherwise. I can see the light at the end of the mortgage tunnel because of you! 

aww you're so sweet, I just carried it on from those who came before. its a good thing to always have short, medium and longer term plans on all fronts

Needhelpsaving

I agree, thanks Trix-a-belle x

violetblue

Totally agree, this challenge has really motivated me to keep going, and it will all be gone in a few short months!

I'm just about to post my form for the latest update, having done my payday money shufflings - only £4500 left, so close I can almost taste it!

ilselm

Hello, #4 here. Just submitted update chart for this past quarter. 

Unfortunately, my numbers have gone backwards as had to pull back some funds from the offset to cover some out of budget expenses on a recent house renovation. While this could have been paid for from investments, I figured that longer term investment returns would be higher than current mortgage interest rate. Well done to all those maintaining and smashing targets! It seems I’ll be around for a lot longer still! Thanks, 

Cheery_Daff

Number 55 reporting in, with a balance of £184,458.86. I *think* I'll still be in the green - my aim was to get down to £180,000 by the end of the challenge, and according to my spreadsheet I should be there by September, which is a good job, as I'll be dropping down to four days at work then, and will therefore lose most of my regular overpayment amount

Still, it's progress! Am I allowed to be excited about the start of the next challenge yet?? Our five year fix will be up near the end of the next challenge so I have big plans for where I want to be by then... But I'm getting waaaaaaaay ahead of myself...  

Thanks again trix-a-belle for organising all this, and for julicorn for volunteering to take over! 

taka

Number 45 reporting in... As of the end of March I hit £24,948.42. I became Mortgage free in Aug last year 🥳 so have been cracking on with saving/investing and paying into the DC part of my hybrid DB/DC pension by salary sacrifice. I've comletely changed the way I'm tracking things as a result of being MF and an inheritance (and a probably house move in the next year or so), so it is making it too confusing to track everything the way I was for this challenge. So I'm going to call it a challenge complete at 25k. 😁

Thanks everyone, especially trix-a-belle for running this!

inigma

Hey I might be looking at it wrong but I can not see an option on the form to update 25/04/2021?

trix-a-belle

inigma said:

Hey I might be looking at it wrong but I can not see an option on the form to update 25/04/2021?

its you inigma, chart 9 is definitely on the list with the 25/04/21 date

Lumiona

Just updated mine, paid off our 10% in one chunk since last update so a big drop this time. I must be in green now. We cannot pay off any more until Jan next year. 

mummytummy

#23 reporting in - been a very tough quarter but slow progress is better than no progress.  I estimate I may be £15k short of my target by the end of the challenge 🙁