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

Poppycat1

Thanks trix-a-belle it's because it's the 25th April and not 25th Jan! I'm 3 months behind, sorry. I was looking at chart 8. Next time I check I'll make sure it's first thing in the morning when I'm more awake.  Sorry. 

miss_undastood

Hi

i sent my update through over the weekend. But I think I may have missed the deadline for chart 9 (or filled out the wrong box) 

I will try and update for July on time - apologies!

trix-a-belle

miss_undastood said:

Hi

i sent my update through over the weekend. But I think I may have missed the deadline for chart 9 (or filled out the wrong box) 

I will try and update for July on time - apologies!

No form submission received Miss_Undastood, feel free to throw one in again now and I'll pick it up at some point

miss_undastood

I think I sent it on 25th but not to worry. I will do it now. Thanks!

twinklie

I've never been in the green before in one of these challenges. I could genuinely cry. I'm so proud of myself.

Fingers crossed nothing happens to derail me. 

trix-a-belle

twinklie said:

I've never been in the green before in one of these challenges. I could genuinely cry. I'm so proud of myself.

Fingers crossed nothing happens to derail me. 

even if something does Twinklie you have the skills and focus to be able to see the end game, regroup and carry on

twinklie

trix-a-belle said:

twinklie said:

I've never been in the green before in one of these challenges. I could genuinely cry. I'm so proud of myself.

Fingers crossed nothing happens to derail me. 

even if something does Twinklie you have the skills and focus to be able to see the end game, regroup and carry on

Yes, yes I do! And my work restructure is over and my job is secure, so that's one less thing to worry about. Phew. 

mummytummy

Only 216 days until the end of this challenge   

trix-a-belle thank you for running this it has really helped me focus on reducing our mortgage and with everything crossed I won’t be too far off my target come January   
(Then start again with a new target?)

miss_undastood

I have just submitted my July balance and have realised I have smashed my original target and we still have 6m to go. Liberating. 

Although partway through the challenge I have added extra to my mortgage I have just been subtracting this from my overall total. 

Now in total we owe £286,600 - when we remortgaged last summer to 60% LTV it was 308,000 so I’m really seeing the benefits of overpaying reaping huge rewards. And I feel so much happier having a more reasonable mortgage and less exposed. We have reasonable jobs, but our household income is only 70k but lockdown has certainly helped us to reduce spending. 

Thanks Trix for keeping us all in order

Poppycat1

I have just submitted my July 2021 balance of £78,170.46.  The mortgage is down to £81,170.46, I have/will have £3,000 saved for when the new 10% over payment allowance starts on 1st January 2022.  

I should have the whole of the 10% (just under £8,000) by the end of the year.  With normal payments I will then have to pay an extra £400, and pay early redemption on, about £40, and will reach my target of £70,000 by January 2022.

I then have big plans to get rid of the £70,000 as quickly as possible.