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The Mortgage Free in Three - Take 6 challenge (MFiT-T6)
Comments
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Sistergold said:Good morning everyone. @julicorn, I just wanted to ask, is it possible to have two different targets/challenge on here? I know I am on paying off my mortgage but I wanted to also have a saving challenge? I think you mentioned that you could give two different numbers for one person? I want to save a lump sum to replace the money I used to pay down my mortgage last month.Thanks again for all you do for us @julicorn
Yes, that's possible! Just pop through a registration form for your secondary target and I'll process that with the other updates later in the month0 -
julicorn said:Sistergold said:Good morning everyone. @julicorn, I just wanted to ask, is it possible to have two different targets/challenge on here? I know I am on paying off my mortgage but I wanted to also have a saving challenge? I think you mentioned that you could give two different numbers for one person? I want to save a lump sum to replace the money I used to pay down my mortgage last month.Thanks again for all you do for us @julicorn
Yes, that's possible! Just pop through a registration form for your secondary target and I'll process that with the other updates later in the monthInitial mortgage bal £487.5k, current £258k, target £243,750(halfway!)
Mortgage start date first week of July 2019,
Mortgage term 23yrs(end of June 2042🙇🏽♀️),Target is to pay it off in 10years(by 2030🥳).MFW#10 (2022/23 mfw#34)(2021 mfw#47)(2020 mfw#136)
£12K in 2021 #54 (in 2020 #148)
MFiT-T6#27
To save £100K in 48months start 01/07/2020 Achieved 30/05/2023 👯♀️
Am a single mom of 4.Do not wait to buy a property, Buy a property and wait. 🤓2 -
hard to believe that this update is the midway point of the challenge. Looking forward to seeing everyone's progress.know thyselfNid wy'n gofyn bywyd moethus...3
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Wow, can't believe that we are half way through the challenge. I have no hope of getting anywhere near my target after finally getting the (more expensive than I was hoping) home improvements completed.
Going to bash on and see how much I can manage to overpay during the second half of the challenge and will try and remember to do my updates.
Anagran
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July update submitted 😊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)£0 -
Update from sent.
I'm currently saving for an operation, so we've not been overpaying as much as we'd like. But once that's out the way I'll be back on it!
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 £103,594.981 -
I've submitted my update, as always thanks @julicorn for running this.
As others have mentioned upthread, I can't believe we're halfway through this challenge AND I can't believe how much things have changed economically in that time. I think my target of £70k left outstanding at the end of the challenge now looks rather ambitious, due to having to refix our mortgage at the end of this year (and waving bye bye to our ~2% interest rate on our mortgage) But we'll see where we get to...
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 - £10k/£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 - 136/500 items so far1 -
eat_that_frog said:I've submitted my update, as always thanks @julicorn for running this.
As others have mentioned upthread, I can't believe we're halfway through this challenge AND I can't believe how much things have changed economically in that time. I think my target of £70k left outstanding at the end of the challenge now looks rather ambitious, due to having to refix our mortgage at the end of this year (and waving bye bye to our ~2% interest rate on our mortgage) But we'll see where we get to...
It’s crazy isn’t it…and not in a good way.Reduction in daily mortgage interest since October 23 (new mortgage) - £2.36 July 25
% of house owned/% of mortgage paid off. July 25 - 38.82%/31.66%
MFiT-T7 #21
MFW 2025 #2
MF Date: Oct 37 Feb 372 -
July update submitted, I need to up the ante as my fix ends in November - given the rates today I need to re-mortgage as little as possible
Thanks as always @julicorn
MM
xMortgage 1 - 01/2/2015 - £243,750 ; Mortgage 01/11/2024 - £132,576.55
Mortgage 2 - 2019 - £76,600 ; Mortgage 01/10/2024 - £47,763.29
MFit-T5 - reduce to £140,000 MFiT-T6 - reduce to £110,000
01/10/2024 Daily Interest - M1 = £18.27 (!!); M2 = £7.41
Debt at highest point in 24 -£21,344
Debt 1st November 24 - £16,192.18 24% paid. Focusing on this in earnest!!!1
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