Weโ€™d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are โ€“ or become โ€“ political in nature may be removed in line with the Forumโ€™s rules. Thank you for your understanding.

๐Ÿ“จ Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

2020 Mortgage-Free Wannabes

1177178180182183

Comments

  • Suffolk_lass
    Suffolk_lass Posts: 11,146 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    #6 finishing off my challenge with an OP total of ยฃ2169.56 and very pleased to say that I have also paid off the mortgage this week so this will be my last MFW challenge.
    Thanks so much for arranging the Mortgage-Free Challenge it has been such a help on focusing on our goal over the last 5 years :smile:

    Ooh, well done you too. Many congratulations!ย ๐ŸŽ‰๐ŸŽ‰๐ŸŽ‰
    Save ยฃ12k in 2026 #2 I have banked ยฃ9004.48 so far, against a ยฃ10k target The 2026 Save ยฃ12k in 2026 thread is here
    OS Grocery Challenge in 2026 I am sticking with a ยฃ3000 annual budget for 2026 - currently ยฃ1111.79 and most of my May purchasing made
    I also Reverse Meal Plan on that thread and grow much of our own premium price fruit and veg, joining in on the grow your own in 2026 discussion thread
    My keep within our budget diary is here
  • #50
    I know I said it was the last payment of the year but we have just had some unexpected inheritance. My new total for December is ยฃ3333.62.
    Thank you julicorn, that really is the last one now.
    MFW - OP 10% each year to clear mortgage in 10 years!
    2019: ยฃ16,125/ยฃ16,125
    2020: ยฃ14,172.64/ยฃ14,172.64
    2021: ยฃ12,333.62/ยฃ12,333.62
    2022: ยฃ10,626.55/ยฃ10,626.55
    2023: switched tactics to saving in a higher interest rate account than mortgage interest rate
    2024: mortgage neutral!
  • julicorn
    julicorn Posts: 2,714 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper Photogenic
    #6 finishing off my challenge with an OP total of ยฃ2169.56 and very pleased to say that I have also paid off the mortgage this week so this will be my last MFW challenge.
    Thanks so much for arranging the Mortgage-Free Challenge it has been such a help on focusing on our goal over the last 5 years :smile:

    That's fantastic news, congratulations! What a great way to end the year <3
  • SandyShores
    SandyShores Posts: 2,071 Forumite
    Seventh Anniversary 1,000 Posts Photogenic Name Dropper
    edited 28 December 2020 at 11:05AM
    #150 paid another ยฃ94ย  (so total for 2020 so far isย ยฃ329.26)

    Decided to make a lump sum final payment for 2020, so this is my final payment for 2020.ย  It means I can start 2021 with a mortgage total of ยฃ304k, but I will need to find a bit more for January 2021 now.ย  Thanks Julicorn.
    "Think of many things, do one"
    Mortgage end June ยฃ192,200ย ยฃ309,749 2020ย (ends 2038 - aim for 2031)
    Seven Goals; and healthy diet/walk/run/exercising/weights/yogaย 

  • cod3
    cod3 Posts: 805 Forumite
    Part of the Furniture 500 Posts Mortgage-free Glee! Combo Breaker
    #53

    My December OP is ยฃ415.96 bringing my year's total to ยฃ3,025.42.ย 

    Missed my target because I lost confidence in overpaying when the lockdowns started.ย  Put more into an emergency fund instead so not all bad.ย  Will be starting the new year with a mortgage balance of ยฃ10.5k exactly.ย  See you on the other threadย  :)

    Thank you Julicorn for keeping me in line and helping me focus x
  • #117 managed a ยฃ350 top up to sign off 2020.ย  Didn't get to the targets as desired, but extremely grateful to get to this point given how the year went.ย  Hope it's a much better 2021 to one and all.

    Happy New Year all!
    And thanks Julicorn & others for pulling us all through!
  • #152 reporting for the last time (again!). My final overpayment amount for 2020 is ยฃ1.55 short from ยฃ700 so I HAD TO overpay this last tiny amount to get my round number for the year. Total amount for December is ยฃ101.55 :)ย 
    Debt Remaining: ยฃ8,781.53
    3 Month EF: ยฃ1,000/ยฃ4,494
    2025 MFW Challenge #9: ยฃ999.00/ยฃ4,000
  • After a lot of discussion we decided, for the first time, to OP the max 10%. As a result we have OP ยฃ12,750 today. This will be my last update for 2020 and blasts my target out of the water. Does put us in a good place for kicking off 2021 though :)


    Small OPs are better than no OPs
    Start date - Feb 2018 ยฃ231,000 / Apr 2042
    July 2025 ยฃ116,950 / Dec 2025
    MFW #60โ€ฆ. Back in for 2025!
  • yogavibes
    yogavibes Posts: 99 Forumite
    100 Posts First Anniversary Name Dropper
    edited 30 December 2020 at 9:28AM
    #69 here reporting for my last OP of the year DEcember OP of ยฃ825.70 made taking my year total to ยฃ10000. I can't believe I made this target - having it really helped this year so thanks for letting me join the thread. EDITED: have just realised my original target was ยฃ10800 not ยฃ10000! oh well, it's near enough for me to still be excited with what I have saved! next year I am going to add my target to my signature so I don't forget it!
    MFW #69 Mortgage remaining Jan 2021 ยฃ221,644; Jan OP ยฃ1000;
  • bigbeff
    bigbeff Posts: 1,151 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Just done a final payment of ยฃ33.49... meaning Decembers payment was total ยฃ614.91. I have hit my total for the year :)ย  Thank you - looking forward to overpaying more next year!ย 
    Debt as of 29/12/25
    Overdraft: 1465.60 327.33
    CC1: 866.75 500
    CC2: 5699.85 5199.85
    Total:8032.30 6027.18
Meet your Ambassadors

๐Ÿš€ Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.8K Banking & Borrowing
  • 254.5K Reduce Debt & Boost Income
  • 455.6K Spending & Discounts
  • 247.6K Work, Benefits & Business
  • 604.5K Mortgages, Homes & Bills
  • 178.6K Life & Family
  • 262.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.