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

pavlovs_dog

bumping the thread to remind people to send their updates in.  Just done mine, inching ever closer to our target, which seemed so ambitious when we set it.

Can't believe there are just 2 updates left for this challenge

violetblue

Thanks for the reminder pavlovs_dog - I've just submitted mine too.

I wasn't sure I would get anywhere close to my target either, but thanks to some extra hours at work, general frugality, and the motivation of being in this challenge, I'm nearly there!

trix-a-belle

cripes where is the time going!
Its great to see so many updates coming through getting so close or over targets

Lumiona

Just sent through my final update on this challenge before we sell and pay off our mortgage!!! I'm really pleased with my progress from £95k to £61k.

We are getting a bigger mortgage on our new property so will likely join a future challenge after we've renovated and decorated it. Even though we'll be back at square 1, overpaying has been a huge boost in increasing our equity allowing us to trade up to a bigger and better home for not much more money.

Thank you all and good luck on your journeys. 

Ellie78

Completely missed the April update!    2 forms just sent in for April/July.  

mummytummy

#23 Just updated, fingers crossed I might just be out of the red zone 

DiscountDuck

Just sent in my update. I’m thrilled to have met the target. Hopefully if I join the next three year one, depending on if I get the kitchen and electrics redone, I may be able to finally get close to mortgage freedom! 

Cheery_Daff

Just sent in my update. My target was to get under £180,000 by the end of the challenge, and current balance is £181,658.50 so well on the way!

We've been overpaying about £600 a month for the last few months, but we're having a kitchen fitted soon so those overpayments are being used to replace those savings for a little while, and I'm dropping a day at work as well so things will take a hit for that too. 

Should still get below the target even just with normal overpayments though

Is it really only 2 more updates until this challenge is finished?! Must start thinking about the next one - our fix is up in 2024 so it would be nice to have a decent chunk paid off before then... 

Needhelpsaving

Thanks for the reminder Pavlovs Dog. Not much OPing here, just ticking along with the new mortgage as all spare money is being poured into renovation works ... we bought the house that had 'potential' as it was £75k less than the nice one with the same floor plan around the corner (although it won't cost £75k to make it nice  )

It's great to see how much progress is being made by everyone ... the banks must hate it 

trix-a-belle

Its hard to believe the end is nearing for T5
so here is the latest:
Chart 10