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The Mortgage Free in Three - Take 6 challenge (MFiT-T6)
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#2 late to the updating for July party…update submitted though.Mortgage 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 -
Very late update but I've submitted my July update. Still don't think I'll meet my target of £70k by January next year but I'll be pretty close.
2 updates left, can't believe it!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 -
I've posted another update with the slightly later updates
I also can't believe we only have less than half a year left, doesn't time fly? I'll set up a new challenge after our next update in September, and hope to see lots of you on board again.
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I've just sent my update for October.
We've just re-mortgaged & I've received my statement ready for the switch-over from 1st Oct.I don't think we're gunna hit our goal by Jan, but at least we made a start.Once I'm sure the dust has settled in work, I'll be happier to throw money at the overpayments.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 £103,594.982 -
I've made my update for October, as we've just moved a chunk of our emergency fund over to make a mortgage OP.
I have managed to exceed my target. We're down to £65k now on the mortgage and delighted (although also feeling reeeally impatient now to just get rid of the rest of the mortgage now) We're not planning on any further OPs in the near future, so I think that's it for this year
Thanks Julicorn for running this!
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 far4 -
just sent my October update through. When I set the target, I wasn't convinced we would hit it, much less exceed it. Mortgage freedom now feels tantalisingly close. These threads have been a huge part of helping us to get thereknow thyselfNid wy'n gofyn bywyd moethus...3
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October form submitted 😊Emergency fund 13.5k Home/ holiday fund 6.5k Mortgage £45,614
- MFW 2022 #35 10,000
- MFW 2023 #3 10358.97
- MFW 2024 #3 10000
- MFW 2025 #3 6945.69/10000
- MFW 2024 #3 10000
- MFW 2023 #3 10358.97
1 - MFW 2022 #35 10,000
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Submitted October update 😊 Hard to believe we only have one more left 😬
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 -
Hello all, @julicorn, I have been a bit behind in my submissions. Have now sent update forms. Thanks again for running this fun challenge!Initial 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. 🤓0 -
October update sent. We’ve got £2500 in a savings pot as it pays higher interest than the mortgage costs, so plan is that matures in December and goes to the mortgage ready for the final update.I can’t believe how quick 3 years has gone and it shows the value of this longer term challenge in keeping up motivation, we’ve paid over 20k off 😳
thank you J as always for organising xMFW 2021 #76 £5,145
MFW 2022 #27 £5,300
MFW 2023 #27 £2,000
MFW 2024 #27 £6,055
MFW 2025 #27 £2,350 /£5,0003
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