2020 Mortgage-Free Wannabes

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Welcome to the Mortgage Free Wannabe 2020 thread! :heart2:

Over the last few years, this challenge has been providing support for everyone who wants to overpay their mortgage, whether it is by a big or small amount. Every little helps, and together we have been overpaying around a million pounds every year over the last few years!
Whether you're a brand new mortgage free wannabe, a veteran on the final stretch of the long slog, or someone who has cleared the mortgage and wants to provide some help and encouragement for others, this is for you. The challenge runs from January 1st-December 31st 2020, and you can join or change your target at any time up until December 31st 2020. And if you're expecting to be mortgage-free before then, you're still very welcome. Likewise if you're saving towards something house-related (extension, new OP allowance, etc.).

SPREADSHEET
See how we are all doing on the big MFW 2020 spreadsheet HERE

Links to previous challenges are here:

TO JOIN

If you've participated in the last few years, please let me know by the end of December 2019 whether you want to take part again and what your goal is for this year. Please also let me know whether you would like to keep your number or whether you don't mind. One tiny tweak from the previous years - I'm only including numbers up to 150, unless we end up having more people sign up of course. :)

For all the new participants, please post on the thread and I'll allocate you a number - numbers will be first come, first served.

Bear in mind that the challenge runs for the 2020 calendar year when setting your target. You're welcome to track total payments, overpayments, savings, etc. - whatever motivates you!

UPDATES
To provide progress updates and/or change your target, just post on the thread - I'll 'thank' posts when I pick up the update. I do make mistakes from time to time, so if I miss an update or get it wrong then please let me know.

A few requests from me to make keeping track easier:
  • When providing updates, please include your MFW2020 number and the month(s) you are updating
  • Multiple overpayments in a month are fine and most certainly encouraged, but it will really (really, really) help me if you keep a running total when reporting updates (e.g. ...another OP of £200, which makes £600 in total for April...)
  • It's fine to miss a month or two and then provide updates for several months if you prefer, but please make it clear what you want allocating where.
  • It is helpful for me if you keep a running total for the year in your update post and/or your signature as I can cross-check the spreadsheet against your overall total, but this isn't required at all.

Updates also don't have to be limited to just your stats - a bit of chat and encouragement can be hugely motivating.

Finally: If you spot any mistakes, let me know, and I'll try and fix them ASAP. Similarly, if you have any requests for additional stats/features for the spreadsheet, let me know, and I'll see what can be done.
Original mortgage: December 2017, £203,495
MFW start: April 2018, £201,800
Mortgage neutral: September 2022, mortgage redeemed: December 2022
New house, new mortgage: December 2022, £276,007
Current balance: £217,800 minus £8,300 overpayment savings pot
«134567183

Comments

  • wishingthemortgaheaway
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    Oooh, I wasn't expecting to be first... but I'm in for 2020.

    Number 28 (happy to move up the sheet though..)
    I'll have to confirm the amount once my December payment and interest have been sorted.

    Thank you for being willing to run this again.

    Wish.
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • julicorn
    julicorn Posts: 2,283 Forumite
    First Anniversary Name Dropper Photogenic First Post
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    Oooh, I wasn't expecting to be first... but I'm in for 2020.

    Number 28 (happy to move up the sheet though..)
    I'll have to confirm the amount once my December payment and interest have been sorted.

    Thank you for being willing to run this again.

    Wish.

    I'll give you #10 if you like, gotta love those low numbers! :) Thank you for signing up again!
    Original mortgage: December 2017, £203,495
    MFW start: April 2018, £201,800
    Mortgage neutral: September 2022, mortgage redeemed: December 2022
    New house, new mortgage: December 2022, £276,007
    Current balance: £217,800 minus £8,300 overpayment savings pot
  • Mortgage_Minimiser
    Options
    Im definitely in! I am currently number 46, but again happy to change if it helps to tidy up the spreadsheet :)

    I will be sorting targets for next year soon..... so I will be back with numbers if that's ok!

    Thanks Julicorn!

    MM
    x
    O'Payments:2016 - £3641.262017 - £7779.282018 - £11,515.16MFiT-T4 # 59 - reduce mtg to £195,000; MFit-T5 - reduce mtg to £140,000Mortgage:01/2/2015 - £243,75031/12/15 - £235,906.7131/12/16 - £224,120.9831/12/17 - £210,224.0631/12/18 - £190,821.21Mortgage today £140,788
  • julicorn
    julicorn Posts: 2,283 Forumite
    First Anniversary Name Dropper Photogenic First Post
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    Im definitely in! I am currently number 46, but again happy to change if it helps to tidy up the spreadsheet :)

    I will be sorting targets for next year soon..... so I will be back with numbers if that's ok!

    Thanks Julicorn!

    MM
    x

    Great to see you're joining again as well. Would you be happy with a lucky 13 for 2020? :)

    Completely understand the need to confirm targets later! Mine is just a place holder for now as well, gotta figure out how much we'll be allowed to overpay (based on how much more we can manage to OP this year :) )
    Original mortgage: December 2017, £203,495
    MFW start: April 2018, £201,800
    Mortgage neutral: September 2022, mortgage redeemed: December 2022
    New house, new mortgage: December 2022, £276,007
    Current balance: £217,800 minus £8,300 overpayment savings pot
  • Cherryfudge
    Cherryfudge Posts: 10,226 Forumite
    First Post First Anniversary Name Dropper
    edited 29 November 2019 at 10:08AM
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    I'm in please! I was 30 but if there's a number nearer the top I'm happy to change. I'm hoping to make my last mortgage payment in March... I shall miss overpaying, and this challenge has really helped. :)

    ETA: I don't know what my target will be yet! Depends how much I can pay down in December but I'm hoping it will be IRO £1,000. Can I let you know later please?
    I think a bit of sunshine is good for frugal living. (Cranky40)
    The sun's been out and I think I’m solar powered (Onebrokelady)

    Fashion on the Ration challenge, 2024: Trainers 5 coupons, dress 7 coupons = 12/68
    20.5 coupons used in 2020. 62.5 used in 2021. 94.5 remaining as of 21/3/22
  • life_is_sweet
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    I'm in the 2020 crew too!

    #11 and happy to keep my number please.

    I'm going to aim for £15,000 as my target.

    Thanks for running the challenge Julicorn!

    Lis
    #11 MFW 2020 :£14560/£15000
    MFW 2019 :£10327, MFW 2018:£6676 , MFW 2017:£6664
    Original MF date June 31/Target MF September 21
    I can do it!
  • julicorn
    julicorn Posts: 2,283 Forumite
    First Anniversary Name Dropper Photogenic First Post
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    I'm in please! I was 30 but if there's a number nearer the top I'm happy to change. I'm hoping to make my last mortgage payment in March... I shall miss overpaying, and this challenge has really helped. :)

    ETA: I don't know what my target will be yet! Depends how much I can pay down in December but I'm hoping it will be IRO £1,000. Can I let you know later please?

    Great to have you take part again! I've bumped you up to #16 if that's ok? And no worries at all, I've put in £1,000 as a placeholder for now, but can revise that once you know the actual figure. :)
    Original mortgage: December 2017, £203,495
    MFW start: April 2018, £201,800
    Mortgage neutral: September 2022, mortgage redeemed: December 2022
    New house, new mortgage: December 2022, £276,007
    Current balance: £217,800 minus £8,300 overpayment savings pot
  • julicorn
    julicorn Posts: 2,283 Forumite
    First Anniversary Name Dropper Photogenic First Post
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    I'm in the 2020 crew too!

    #11 and happy to keep my number please.

    I'm going to aim for £15,000 as my target.

    Thanks for running the challenge Julicorn!

    Lis
    Excellent to hear, and thank you for letting me know your target as well! :)
    Original mortgage: December 2017, £203,495
    MFW start: April 2018, £201,800
    Mortgage neutral: September 2022, mortgage redeemed: December 2022
    New house, new mortgage: December 2022, £276,007
    Current balance: £217,800 minus £8,300 overpayment savings pot
  • CosmoCat
    CosmoCat Posts: 681 Forumite
    First Anniversary Combo Breaker First Post
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    #116 and I'm happy to move up!

    £6000 is my target.

    Thank you
    MFW Newbie - #17. (#116 in 2019)
    New Mortgage at Nov 19 - £273 499
    Current Balance - £268 225
    Want to cut down 26 year mortgage by 9 years!
    New MF date 2036 :dance:
  • Lomcevak
    Lomcevak Posts: 1,023 Forumite
    First Post First Anniversary Name Dropper
    Options
    I'm in, for the last time (I hope!) :)

    Target is £12,589 which will completely clear my mortgage and would like to keep my current number if possible!
    £40k-in-’23#18 £78,628.29/40,000 (196.57%)
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