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The Mortgage Free in Three - Take 5 challenge (MFiT-T5)
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Thank you Trix-a-belle for all your work on the charts. Can’t believe we only have 2 charts to go. I may be a little bit behind but I have savings to make up the shortfall so I’m sure I’ll reach my target. I wouldn’t have done it without the focus of this challenge.Good luck for the rest of the challenge everyone.SL xMFIT -T5 #423
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Just sent an early update. Mortgage Free, woohoo. Sold our home and paid off our mortgage. Getting another mortgage soon for our new house but won't be making any strides into overpaying for a few years and it needs renovating.8
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I’ve been very absent from this thread but wanted to report that our mortgage is clear!!! Managed this a week or so ago and am very happy!MFW 2019#24 £9474.89/£11000 MFW 2018#24 £23025.41/£15000
MFi3 v5 #53 £12531/
MFi3 v4 #53 £59442/£3938712 -
Just submitted my October update - only one more update left of this challenge... Time flies!
I had thought of dropping out next time round, but I've recently started thinking about my plans over the next 3 years, and I guess that would fit quite nicely with taking part in MFiT-T6...
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Well done Bunty and Lumiona! Excellent work to both of you!
Crikey, only one more update?? Good heavens. We've ditched our overpayments for now as we're having quite a bit of building work done and it's taking all spare cash (and most of the savings) but I THINK we were so far ahead of ourselves that we'll still be in the green at the end of this challenge. Definitely joining in next time, and I'm going to try to be a little more ambitious I think!3 -
I fell off the OP wagon because of going on holiday and getting a dog (we've waited 6 years since loosing our last one so it was long overdue). But I'm back again now and looks like I'll still hit my target! YAYReduction in daily mortgage interest since October 23 (new mortgage) - £2.36 July 25
% of house owned/% of mortgage paid off. July 25 - 38.82%/31.66%
MFiT-T7 #21
MFW 2025 #2
MF Date: Oct 37 Feb 372 -
sent my penultimate update through. Hard to believe where the time has goneknow thyselfNid wy'n gofyn bywyd moethus...2
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Submitted my update and very pleased with myself 😊 I think I might even exceed my target a tiny bit 😂MFiT-T7 #17 (Jan 2025) £193k (Apr) £177k (July) £
SPC 18 #6 £315.70(04/08/25)
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)£2 -
I am definitely joining the next challenge on here in January, this is very inspiring especially seeing the long timers on this.
I will be just in my new flat so it will be a Mortgage op goal OR i will still saving for the deposit whilst looking for my flat so can I change my targets/goals from starting this?DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest4
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