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

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Comments

  • Hi all I've submitted my update. 

    I'm due to remortgage at the end of the year so I'm trying to make the most of my current low interest rate. 

    Thanks @julicorn
    Mortgage free as of March '25!
    £240,000 paid off in 4 years, 8 months and 18 days (July '20-Mar '25)
    Mortgage paid off 19 years early.

    2025 MFW #40

    2025 Goals

    Pay off mortgage of £55k for good! - £55k/£55k paid - mortgage free!!!
    Keep emergency fund at £10k - £30k/£10k - goal met!
    Lose 12 kgs - 3/12 kgs lost so far
    Try 1 new activity/experience as a family each month - 0/12 new activities/experiences tried
    Decluttering - declutter 500 items from house and outbuildings - 162/500 items so far
  • Submitted my numbers, £53254.86
    We've had to spend lots of savings this quarter between roof, cars and pets! I'm frustrated we're doing so badly at this challenge but then again incredibly grateful we have savings to cover these big expenses. Here's hoping for a much better report next quarter!
    Thank you @julicorn
    Weight loss goal 6/7lbs for first quarter
    Overall 2025 weight loss goal for the year 6/21lbs
    Holiday savings target 3400/£4800

  • My update's gone in. Just south of £43k x
  • Bounty123
    Bounty123 Posts: 98 Forumite
    Sixth Anniversary 10 Posts Photogenic Name Dropper
    Hello everyone,
    I have submitted the update form. I am glad this is a longer challenge, hopefully I will be able to make more progress next year. This year seems to be swallowing money at an ever increasing pace.
    Thank you @julicorn
    Bounty
    2025 MFW No:23
    MFiT-T7 12
  • smetf
    smetf Posts: 364 Forumite
    Part of the Furniture 100 Posts Name Dropper Photogenic
    Morning everyone, made a an extra OP and submitted the Update form. 
    Thanks @julicorn
    S
    Emergency fund 14k Home/ holiday fund 7k Mortgage £44,592
  • mummytummy
    mummytummy Posts: 967 Forumite
    Part of the Furniture 500 Posts Name Dropper Photogenic
    Morning everyone, 

    #17 reporting update submitted 😊

    Thank you julicorn 👏
    MFiT-T7 #17 (Jan 2025) £193k (Apr) £177k (July) £159k (Oct) £
    SPC 18 #6 £336.10 (01/09/2025)

    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)£
  • Hi there,

    I know I'm really late to this challenge, but I'd like to join.  Have submitted my form @julicorn

    Really looking forward to using this board as motivation to stay on track with my overpayments. Hoping to be mortgage free the week before I turn 50! 

  • x_raphael_xx
    x_raphael_xx Posts: 4,411 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Update form sent :smile:
    Debt Free as of 17/01/2009 Turtle Power!!

    EF Challenger #3 £1543.72 / £5000
    MFW 2024 #100 £1300.00 / £10,000

    MFiT #40 Jan 2025 Target - £99,999.00
    Mortgage at 30/09/22 £113,694.11 | Mortgage at 24/01/23 £110,707.87
    Mortgage at 21/04/23 £107,701.01 | Mortgage at 20/07/23 £106,979.65
    Mortgage at 04/10/23 £106,253.77 | Mortgage at 10/01/24 £105,324.57
    Mortgage at 01/04/24 £104,424.73 | Mortgage at 01/10/24 £103,594.98
  • I have sent my update.
    I am still overpaying as part of my monthly payment but the one off payments have come to a bit of a halt due to unexpected costs and I am starting to build a little savings as the interest is higher than my current mortgage rate.


    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
  • Hi julicorn 

    Can I join too please? I’ve submitted the form 😊

    Would like to save £5000 by 2025.
    MFiT-T6 #49 £0/£5000 £2 savers club 2023 #23 £116 so far (June 4)
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