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The Mortgage Free in Three - Take 6 challenge (MFiT-T6)
Comments
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Happy new year everyone! Have also submitted an update form.@julicorn for keeping us updated on the challengeInitial 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 -
Update form submitted with our last OP meaning our mortgage stands at £53,730.41. We surpassed our target my more than 6k, mainly thanks to earnings being higher through an additional job for me and a pay rise for DH.
Looking forward to joining the next MFiT challenge. Thanks for all the support and your work maintaining @julicorn
SEmergency fund 14k Home/ holiday fund 7k Mortgage £44,592- MFW 2022 #35 10,000
- MFW 2023 #3 10358.97
- MFW 2024 #3 10000
- MFW 2025 #3 7682.31/10000
- MFW 2024 #3 10000
- MFW 2023 #3 10358.97
4 - MFW 2022 #35 10,000
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Final update submitted and we smashed it!!
well done everyone on the challenge, it has really kept me motivated and looking forward to T7MFW 2021 #76 £5,145
MFW 2022 #27 £5,300
MFW 2023 #27 £2,000
MFW 2024 #27 £6,055
MFW 2025 #27 £2,850/£5,0003 -
Morning @juliecorn,
I've just updated and although I didn't make the target I'd set, I've found the challenge very helpful. Thank you so much for running this. If you or anyone is running a T7, I'd love to join.
Best wishes,
Clueless564 -
Clueless56 said:Morning @juliecorn,
I've just updated and although I didn't make the target I'd set, I've found the challenge very helpful. Thank you so much for running this. If you or anyone is running a T7, I'd love to join.
Best wishes,
Clueless56https://forums.moneysavingexpert.com/discussion/6577812/the-mortgage-free-in-three-take-7-challenge-mfit-t7/p1
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Despite the last year not being very mortgage blasting I have hit my target for this challenge.
I have joined up for the next one
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 final update.
I didn't hit my target of £57k and finished at £60100.63 but it is better than not aiming for anything. Ready and raring to go for round 7, let's see how that one endsMFW 2025 No. 7 £1530/£2700
MFiT-T7 No. 6 £3571.87/£30,0001 -
Submitted mine too, couldn’t remember if I’d already done it 😂T7 here we come 😊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)£0 -
Hi everyone, I've just processed the latest updates, and you can find our final sheet here
One thing to mention - I got a few new registrations through this form this month, I assume they were intended for the T7 challenge. Please check the T7 entries I'm about to post in the relevant thread - you'll need to submit your entry over there for it to come through properly.
Thank you again so much to everyone who'd taken part, it's been a great three years with many ups and downs! It would be lovely to see many of you over in the T7 challenge again5
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