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The Mortgage Free in Three - Take 6 challenge (MFiT-T6)

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  • northwalesd
    northwalesd Posts: 1,319 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I've done my update, hopefully correctly  :D
  • pavlovs_dog
    pavlovs_dog Posts: 10,215 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I've done my October update, hoping to be dark green again
    know thyself
    Nid wy'n gofyn bywyd moethus...
  • #17 updated for October 😊 very happy with progress so far, want this mortgage gone asap..
    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)£
  • Chart 3 updated. Thanks @julicorn Progress is very slow but at least mortgage is going down! Good luck everyone 
    Weight loss goal 6/7lbs for first quarter
    Overall 2025 weight loss goal for the year 6/21lbs
    Holiday savings target 3400/£4800

  • I'd forgotten I had joined this challenge.  My circumstances have changed a lot since joining.  I have sent an update of having savings of £42!  I should be at £3,000 by now.  Sorry for being AWOL.  Aiming for £200 by October's update.  I have some overtime coming up.
    Without overpayments: 15 years, 1 monthsBecause of overpayments: 10 years, 10 months left until paid off
  • Morning,
    I have submitted my update. My challenge of building up savings is not going well as the savings are in an S&S ISA and I keep putting money in but the value goes down! Hopefully I will feel the benefit next year.
    Thanks @julicorn
    2025 MFW No:23
    MFiT-T7 12
  • I'm in the exact same position @Bounty123 it's a bit soul destroying but as you say, fingers crossed for better times next year.
    Weight loss goal 6/7lbs for first quarter
    Overall 2025 weight loss goal for the year 6/21lbs
    Holiday savings target 3400/£4800

  • Another one who forgot I'd registered! Update done and hoping to get a bit more motivated after a slow start this year. Back to the frugal ways.
    Mortgage start date Nov 2014  - £90,545 over 25 years
    Re-mortgage Oct 2017 - 78,295 over 23 years
    Re-mortgage Jan 2020 - 55,000 over 26 years @ 1.94%
    Current Mortgage Outstanding Middle December 2020 - £
    47893.35 - a reduction of £42,652 in just over 6 years!  


  • Updated!! I made a small overpayment to get it below £102k but didn’t work out the daily interest so now back up to £102003 doh! 
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £6,055
    MFW 2025 #27 £2,350 /£5,000


  • I have posted my update. I am loving finally having my sole mortgage and being free to overpay. 
    I haven’t posted on my diary for months but I am proud that this doesn’t mean I have gone off track in the style of old me but just chilled new me, who can keep going and stay focused without having to obsess (too much!)

    Total Debt May 21 £20,490.44  DEBT FREE DATE 29/7/22 

    Mortgage balance May 21 £177,096.19. Now £143,070.41
    Mortgage free date. At start of sole mortgage = July 2042

    2024 SAVINGS FOCUS - get rid of the car finance. £12,706.25  PAID OFF 
    2025 Savings Focus - 33.3/33.3/33.3 split; savings for house renovations (bathrooms/garden/kitchen; whichever collapses first), save for a family holiday (probably our last one!) and paydown/offset the mortgage. Total pot = £4238.56
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