2025 Mortgage-Free Wannabes

julicorn

seventh88 said:

Hey,

I'd like to join. I'm new, so don't have a number. My goal is £3000. I feel really daunted by my mortgage and quite alone in tackling it as a solo homeowner. It's great to have the support of this thread and community.

Cheers

Welcome! Thanks for joining You've got #10 now. 

Betharooni said:

Hi,

Please can I join? I don’t strictly have a mortgage yet but it should be set up in the next couple of months (my brother and I are buying out our other two brothers on our family home after Mum passed away in August - we’re waiting on probate to go through). Can I set a small target of £2000 and see how I go.

Thanks

Absolutely! Sorry to hear about your mum's passing, and best of luck with the transaction. I've given you number 17.

turtlemoose said:

Another new joiner £1200 for me please

Welcome aboard! #20 is all yours  

Shal1160

Thanks for running the challenge, please can I join again? I was #29 for 2024 but happy to have a lower number if that's helpful. My target for 2025 will be £2800. It will be a stretch but hoping to make it  

Frugalwannabe

Hi @julicorn did I get allocated a number please? I’m a newbie so may of missed where it’s posted? Thank you ☺️ 

ShALLaX

Thanks for running this. I'm back with another mortgage to pay off, which I took out as a 34 year mortgage (10 year fixed at 2.39%) with no initial aspirations to pay off significantly early, but it gets addictive seeing the balance go down when you do!

I'll probably get penalised by about as much as the interest would be if I left it to run the full 10 years, but I'd much rather lose the anchor around my neck.

Year: Starting balance
2018: £165,118
2019: £163,946
2020: £151,873
2021: £135,748
2022: £114,153
2023: £93,465
2024: £73,974
2025: £55,650

I'm looking to pay it off completely in 2025 - ASAP.

julicorn

Frugalwannabe said:

Hi Julicorn,

Would it be possible to join please? My first time here so don’t have a number as yet and I’d like my target for the year to be £5000 please. 

Thank you ☺️ 

Sorry, skipped you accidentally! You've got #24  

julicorn

Shal1160 said:

Thanks for running the challenge, please can I join again? I was #29 for 2024 but happy to have a lower number if that's helpful. My target for 2025 will be £2800. It will be a stretch but hoping to make it  

Absolutely! I've let you keep number 29, there wasn't anything much lower available at the moment  

julicorn

ShALLaX said:

Thanks for running this. I'm back with another mortgage to pay off, which I took out as a 34 year mortgage (10 year fixed at 2.39%) with no initial aspirations to pay off significantly early, but it gets addictive seeing the balance go down when you do!

I'll probably get penalised by about as much as the interest would be if I left it to run the full 10 years, but I'd much rather lose the anchor around my neck.

Year: Starting balance
2018: £165,118
2019: £163,946
2020: £151,873
2021: £135,748
2022: £114,153
2023: £93,465
2024: £73,974
2025: £55,650

I'm looking to pay it off completely in 2025 - ASAP.

Welcome! Could you let me know what figure you'd like me to put in your OP target?  

ShALLaX

 julicorn said:

Welcome! Could you let me know what figure you'd like me to put in your OP target?  

Ah, I assumed it’d just be the complete outstanding balance for the year. If we’re talking overpayment targets, let’s set myself a harsh challenge to keep me motivated. 

I’m meant to be paying £445.36 per month. I’ll try and clear my debt by May, so ~£53,423.20 + £2,000-ish ERC. Call it a nice round £55,450 💪 (which works out to be pretty much the total outstanding currently!)

Disgruntled4051

Can I join too? Target of £4000 this year.

carboot_karaoke

Evening All,

Another newbie, @julicorn I would really like to join in this year please 

Current balance is £63,000 l want to be at £35,000 by this time next year which will require me to make £22,000 in overpayments in addition to my regular £500 monthly repayment.

Many thanks