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The Mortgage Free in Three - Take 6 challenge (MFiT-T6)
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Hi all, thank you so much for sending through your updates! I can't believe this 3 year challenge is almost at its end.
There's been some great progress, but also don't worry at all if you've not been able to get close to your goal - there's always the next challenge, which I'll be posting in the next couple of months at the latest.
Here is the latest update.7 -
Ahh - sorry, late update from me. I have accidentally put on the form that i am number 32 but i am number 31.
I have hit my goal, which I feel proud of but it was down to lots of overpayment early in the challenge and very little towards the end.
I have been saving like a trooper and hoping to be able to fully pay off my car early next year so that will free up more money to throw at the mortgage
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 = £4238.563 -
Just submitted my October update - apologies, I fell off the update train.Not much happening in terms of OPs if I’m honest but I’m not far off my target.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 -
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Thank you - I really appreciate it. My progress certainly looks more inline with where I was hoping to be now.julicorn said: 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 371 -
Well I've made a final OP and am just bumping the thread ready for January. I'll fill in the form then as I should have my final figure - bring on MFiT-T7!!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 377 -
@julicorn - is there an MFIT-T7....or plans for one?1
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