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2020 Mortgage-Free Wannabes

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  • julicorn
    julicorn Posts: 2,290 Forumite
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    I'd like to join please!
    Can I have a target of £10,000.
    Welcome to the challenge! You're our #59 now :)
    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: £215,400 minus £10,300 overpayment savings pot
  • julicorn
    julicorn Posts: 2,290 Forumite
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    wh_em wrote: »
    Hi, please could I sign up? We're just about to complete on our first home so our mortgage is imminent. I'd like to start small though! £1000 for the year, please :) as we've got other things to save up for first!
    Excellent, welcome to the challenge! I've given you #66. :)

    (I'm starting to think I should call out the numbers like we're playing Bingo :rotfl:)
    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: £215,400 minus £10,300 overpayment savings pot
  • julicorn
    julicorn Posts: 2,290 Forumite
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    No 74 wishing to do the 2020 challenge. Could I keep the same number please and going to aim for £3000 as we have big holidays lined for next year so will try to be realistic unlike this year. Thanks for all your hard work so far and in the future.
    I've actually got you down as #72 for the 2019 challenge? Let me know if you'd like to keep that :)
    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: £215,400 minus £10,300 overpayment savings pot
  • stavromueller
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    Can I join in too? I've done savings challenges when we were saving for our mortgage. In the four years we've had our house we've overpaid little bits here and there but have predominantly been doing it up. I'm aiming for £4000 over the next year!

    Thank you
    2021 MFW #35: £6000/£6000
  • fruitloop04
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    julicorn wrote: »
    It's a challenge indeed, and a stretch goal can be motivating to some of us (I'm definitely in that camp!). Thanks for taking part again, I've moved you up to #52 :)

    Thanks Julicorn! We will definitely reach our goal of £99999 on our other challenge with these annual goals helping us remain focused!
    01.05.2019 - Re-Mortgage - £142,000 :eek::eek::eek: Total overpaid to date: £15,584.33.
    MFW #52 £9000/£12000
  • skye_blue
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    Hi

    Thanks for running this challenge again, looks like a lot of people are happy to see you doing this again

    Im no 73 on the 2019

    I had a lot of work done on my house last year but im happy with almost everything now, so I need this challenge to stop me spending any more

    Target £10,000 - this is going to be a major challenge but i like a challenge. Its over the 10% amount im allowed each year but I can always save it somewhere!

    Thanks again
  • julicorn
    julicorn Posts: 2,290 Forumite
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    Can I join in too? I've done savings challenges when we were saving for our mortgage. In the four years we've had our house we've overpaid little bits here and there but have predominantly been doing it up. I'm aiming for £4000 over the next year!

    Thank you

    Of course, welcome to the challenge! :) You've got #67 now.
    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: £215,400 minus £10,300 overpayment savings pot
  • julicorn
    julicorn Posts: 2,290 Forumite
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    skye_blue wrote: »
    Hi

    Thanks for running this challenge again, looks like a lot of people are happy to see you doing this again

    Im no 73 on the 2019

    I had a lot of work done on my house last year but im happy with almost everything now, so I need this challenge to stop me spending any more

    Target £10,000 - this is going to be a major challenge but i like a challenge. Its over the 10% amount im allowed each year but I can always save it somewhere!

    Thanks again
    Thanks skye blue! :)
    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: £215,400 minus £10,300 overpayment savings pot
  • becky170
    becky170 Posts: 863 Forumite
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    I'm in for the 2020 challenge.

    Can I keep number 7 and have a target of £1650 for 2020? The only uncertainty for next year is what our new fixed rate will be (currently 1.99%). Really hoping a slightly better rate or around the same depending on how long we fix for.

    Thanks for running the new thread Julicorn!
    Mortgage-free wannabe #66 £249/4000
  • wit40iwtwan
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    I would like to join please - can you put me down for £500/m - £6000 overpayment (which is my limit with my mortgage)...
    julicorn wrote: »
    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.
    Well lets see - I dip in and out of MSE all the time but I still come back - have done since 2007!!! 2023 - Fashion on a ration - 5/66 2023 - 1p Chalenge - £18 in Monzo pot (cannot do pennies so am rounding up)2023 - Frugal Living - Budget still to be finalised - ambition is to cut my food budget by 20% by shopping smarter and meal planning 2023 - January - NSD 15/20 February - NSD 3/15
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