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  • FIRST POST
    • trix-a-belle
    • By trix-a-belle 3rd Jan 19, 11:36 PM
    • 939Posts
    • 4,298Thanks
    trix-a-belle
    The Mortgage Free in Three - Take 5 challenge (MFiT-T5)
    • #1
    • 3rd Jan 19, 11:36 PM
    The Mortgage Free in Three - Take 5 challenge (MFiT-T5) 3rd Jan 19 at 11:36 PM
    Read our Mortgage Guides for fully researched, up to date help on cutting your mortgage

    If you haven't already, join the forum to join the challenge. If you aren't sure how it all works, view our New to Forum? Intro Guide.


    The Mortgage Free in Three - Take 5 challenge (MFiT-T5)

    First I must give a huge thank you to Financial Bliss who ran T3, he is a great inspiration to many having reached mortgage free status in T2, I wish to continue this legacy.

    This is a the fifth in a series of three year mortgage challenges on this MFW board. Anyone who has joined a previous challenge should be aware of the format and timescales. If not see the next few posts below.

    This fifth challenge runs from January 2019 to January 2022 and is open to anyone who wants to devote the next three years to greatly reduce or completely pay off their mortgage, or build up a pot of savings.

    Below is a list of the challengers who have signed up and their own challenge:

    1 trix-a-belle Reduce my mortgage from £94,347 to £52,500
    2 Suffolk lass Completely clear my £59,999 mortgage.
    3 icklehelen Completely clear my £27,500 mortgage.
    4 Ilselm Reduce my mortgage from £120,200 to £75,000.
    5 JEdwards Reduce my mortgage from £80,000 to £50,000.
    6 Lomcevak Completely clear my £49,907 mortgage.
    7 Tara66 Reduce my mortgage from £70,800 to £35,000.
    8 shangaijimmy Reduce my mortgage from £86,600 to £63,500.
    9 Brodiebobs Reduce my mortgage from £129,720 to £99,999.
    10 littlemonkeywolf Completely clear my £32,795 mortgage.
    11 Ang4k Completely clear my £35,000 mortgage.
    12 Urbanshyne Completely clear my £48,865 mortgage.
    13 twinklie Reduce my mortgage from £233,421 to £203,421.
    14 LiuhutOz Reduce my mortgage from AUS $560,000 to AUS $440,000.
    15 julicorn Reduce my mortgage from £181,700 to £99,999.
    16 Unicorn Cottage Reduce my mortgage from £131,000 to £83,000.
    17 Radish72 Completely clear my £20,000 mortgage.
    18 greent Reduce my mortgage from £54,829 to £34,829.
    19 Helibobs Reduce my mortgage from £149,150 to £99,999.
    20 Kittenkirst Reduce my mortgage from £152,781 to £119,000.
    21 frugal_lass Reduce my mortgage from £63,000 to £50,000.
    22 selloptape Build up my savings from £0 to £20,000.
    23 mummytummy Build up my savings from AUS $0 to AUS $50,000.
    24 Maybe_its_because Reduce my mortgage from £161,000 to £120,000.
    25 Poppycat1 Reduce my mortgage from £108,000 to £70,000.
    26 Miss D Meanour Reduce my mortgage from £94,353 to £40,000.
    27 inigma Reduce my mortgage from £78,352.77 to £22,000.
    28 lindez Reduce my mortgage from £65,000 to £20,000.
    29 pavlovs_dog Reduce my mortgage from £73,500 to £43,500.
    30 beth25 Reduce my mortgage from £44,650 to £5,000
    31 The frugal fairy Completely clear my £42,219.38 mortgage
    32 T. x Completely clear my £26,000 mortgage
    33 utopiah Completely clear my £11,768.69 mortgage
    34 Chutney86 Build up my savings from £5,000 to £20,000.
    35 shala_moo Completely clear my £63,000 mortgage.
    36 Muppets Reduce my mortgage from €173,232 to €148,032
    37 lalamb77 Reduce my mortgage from £79,173.39 to £30,000
    38 Avidsaver Completely clear my £84,219 mortgage
    39 Anagran Reduce my mortgage from £95,000 to £85,000.
    40 EG_MF_LO Reduce my mortgage from £220,000 to £180,000
    41 Karona Completely clear my £25,139 mortgage
    42 Stoplurking Completely clear my £28,859 mortgage
    43 crv1963 Reduce my mortgage from £85,302 to £50,000
    44 CathT Reduce my mortgage from £118,973 to £85,973.
    45 taka Build up my savings from £0 to £25,000.
    46 miss undastood Reduce my mortgage from £200,000 to £140,000.
    47 SuperSecretSquirrel Build up my savings from £143,378.17 to £225,000.
    48 Needhelpsaving Completely clear my £58,073 mortgage.
    49 Thriftyknickers Completely clear my £38,898 mortgage.
    50 murdayg Reduce my mortgage from £129,328 to £90,000.
    51 Lumiona Reduce my mortgage from £95,195 to £54,000.
    52 violetblue Completely clear my £19,620 mortgage.
    53 Bunty109 Completely clear my £74,860 mortgage.
    54 zoot_ze Reduce my mortgage from £180,000 to £160,000.
    55 Cheery Daff Reduce my mortgage from £208,134 to £180,000.
    ...
    59 Mortgage Minimiser Reduce my mortgage from £189,189 to £140,000.
    ...
    70 ajmoney Reduce my mortgage from £107506.08 to £80,000.
    ...
    99 pinknsparkly Reduce my mortgage from £220,000 to £190,000.

    Please see the posts immediately below for further information. Good luck in your own challenges.
    Registration / update form: MFiT-T5 Form

    Trix
    Last edited by trix-a-belle; 29-07-2019 at 7:52 PM.
    - Mortgage: 1st one down, 2nd: £114800 £86k
    - Student Loan: £ 7100 0!
    Swagbucks, Mingle, GiffGaff, Prolific, Qmee & Quidco; thank you MSE every little bit helps
    MFiT-T5 knocking down the mortgage to be freeee
Page 1
    • trix-a-belle
    • By trix-a-belle 3rd Jan 19, 11:38 PM
    • 939 Posts
    • 4,298 Thanks
    trix-a-belle
    • #2
    • 3rd Jan 19, 11:38 PM
    • #2
    • 3rd Jan 19, 11:38 PM
    Questions and Answers...

    Q. Why are you doing this/Why should I do this?
    I began as part of challenge three (T3) and it has been great to be part of such an encouraging group working towards similar aims, its good to look in the longer term but you need that support so lets keep it going with T5.
    As a longer term challenge you can really see the snowball effect mortgage overpayments or regularly saving can have on your balance which aren't necessarily seen over the course of 12 months.

    T5 will remain with the three objective options:
    • Completely clear my mortgage
    • Reduce my mortgage
    • Build up my savings
    You will need to choose an objective type from the list above and think about what your target is to be.
    Its worth trying to push yourself with your end target as its a longer term challenge and things can snowball nicely over a longer period but do think about your individual circumstances. Whether you meet your target or not though we are all rooting for each other

    Q. What is different this time?
    Things will be as per T4 which seemed to work.

    Q. Is this challenge for me?
    This is a 3 year challenge. Updates will remain every 3 months, ie 12 updates over the course of the 36 months. If you don't think you can provide periodic mortgage updates over the course of the 3 years, then perhaps this isn’t the challenge for you.

    There are regular annual challenges on this board which you can join if you feel a three year challenge is too long for you.

    Q. What are the timescales?
    The challenge will officially start on 25/1/19 and it will complete on 25/1/22.

    Q. How do I join?
    I have kept FB's form layout and function for registering / setting and updating your objective and also providing chart updates. You can use this update form to register.

    Q. What if I cant clear my mortgage in the 3 year period?
    The joy of this challenge is you dont have to pledge to clear your mortgage completely to enter this challenge, you don't even have to have a mortgage. Everyone’s circumstances are going to be different, so look at what you can realistically attain and set your own challenge goal accordingly.

    Q. What information do you need about my own challenge?
    I will need an estimate of your mortgage or savings balance on 25/1/19, the update form can be used to provide an accurate figure nearer the time.

    Also, I will need a figure of where you would like to be by the end of the challenge (25/1/22)), ie a challenge start and end value, eg:

    Completely pay off my £125,000 mortgage.
    Reduce mortgage from £48,000 to £30,000.
    Build my savings from £0 to £30,000.

    Q. What happens when I register my challenge objective?

    We will allocate you a MFiT-T5 challenger number, add you to post #1 and the progress chart and PM you back with your number.

    Q. Why havent you responded to my private message (PM) yet?
    I will try to reply to any pm's received but please can I recommend you post to the thread as far as possible with queries as there are many experienced challengers involved who may be able to assist and your question may help others.

    Q. I have a mortgage free diary. Can you link to it in post #1?
    If you have a mortgage diary, then it's not a problem to link to it in post number 1, please provide the link via your update form to make us aware of your diary.

    Q. When can I give a figure for a chart update?
    The chart update schedule in post #4 gives the dates each chart will be published, ie on the 25th day of Jan, April, July & Oct. The first chart is due to be published on 25th April 2016. If your mortgage payment is taken on the first of the month, so you may want to report your mortgage as soon as the payment clears when we are in a chart month. That then gives us enough time to gather and publish the data.

    Q. What information do you need in a chart update?
    Hopefully you have gave an accurate starting mortgage value or savings balance, so updating us with a current mortgage value or savings balance will show the reduction or increase made in each 3 month period. Your forum name, challenger number and current mortgage/savings balance is all we need.

    Q. How do I provide information for a chart update?
    Follow the link to the registration/updates form on Google Docs and follow the steps, as simple as that then there is a record of all updates.
    The pm box size is limited and forum posts can be edited so these are fall backs, if you are having problems with the Google Docs form please let me know via pm so that I can acknowledge and ideally submit a form as soon as you are able.

    Q. What about the 25/1/22 chart?
    25/1/22 will be the last date in the challenge that you can make a payment / overpayment. Once as many as possible have got back to us with a final mortgage value, we then publish a final chart.

    Q. What happens if I become mortgage free during the challenge?
    Do tell us as soon as possible when you became mortgage free and we will add you to the list of challengers who became mortgage free during the challenge & celebrate with you!

    Q. What if I want to leave this challenge?
    While I hope this wont be the case, perhaps a change in circumstances may dictate this, life does happen but remember the challenge is the long game and its not the winning but the taking part and the journey that counts so we can change your targets, commiserate, celebrate, make suggestions or all of the above
    If you do still want to leave please let me know and I will retire your challenger number.

    Q. How do I bookmark this challenge so I can locate it easily?

    You can add the thread to your subscriptions by clicking Thread tools > Add subscription which will flag any new posts in the User Control Panel of your MSE account.

    Or you bookmark it in your web browser. You don't actually need to be logged in to the MSE forums in order to view the challenge you can just bookmark it in your browser (usually a star somewhere near the address bar)..

    Q. Where can I find the first four challenges?

    Each of the previous challenges have their own threads and can be found here.

    Original MFiT challenge:
    http://forums.moneysavingexpert.com/showthread.php?t=435291

    Second installment of MFiT challenge - MFiT-T2:
    http://forums.moneysavingexpert.com/showthread.php?t=1402631

    Third installment of MFiT challenge - MFiT-T3:
    http://forums.moneysavingexpert.com/showthread.php?t=4152769

    Fourth installment of MFiT challenge - MFiT-T4:
    https://forums.moneysavingexpert.com/showthread.php?t=5375506

    Q. I have a question that you haven’t covered.
    Hopefully the challenge is simple enough. If you do have a question, please PM myself or post in this thread and we will try to help / add the question and answer to this list.

    Best of luck everyone.
    Last edited by trix-a-belle; 22-04-2019 at 2:16 PM.
    - Mortgage: 1st one down, 2nd: £114800 £86k
    - Student Loan: £ 7100 0!
    Swagbucks, Mingle, GiffGaff, Prolific, Qmee & Quidco; thank you MSE every little bit helps
    MFiT-T5 knocking down the mortgage to be freeee
    • trix-a-belle
    • By trix-a-belle 3rd Jan 19, 11:39 PM
    • 939 Posts
    • 4,298 Thanks
    trix-a-belle
    • #3
    • 3rd Jan 19, 11:39 PM
    • #3
    • 3rd Jan 19, 11:39 PM
    Announcements.

    Intending to use this post for any announcements relating to this challenge, please do check back here regularly.


    - Challenge is open for registrations. Feel free to register and post in this thread...
    & please let me know if there are any edits that i've missed in these first posts



    MFiT-T5 Form
    Last edited by trix-a-belle; 11-01-2019 at 3:27 PM.
    - Mortgage: 1st one down, 2nd: £114800 £86k
    - Student Loan: £ 7100 0!
    Swagbucks, Mingle, GiffGaff, Prolific, Qmee & Quidco; thank you MSE every little bit helps
    MFiT-T5 knocking down the mortgage to be freeee
    • trix-a-belle
    • By trix-a-belle 3rd Jan 19, 11:40 PM
    • 939 Posts
    • 4,298 Thanks
    trix-a-belle
    • #4
    • 3rd Jan 19, 11:40 PM
    • #4
    • 3rd Jan 19, 11:40 PM
    Chart update schedule.

    As this is a three year challenge, I am maintaining the 3 monthly updates but on the 25th of the month.

    Each chart is 8.33% of the challenge. On each chart is a percentage complete column for each questee. If you're on track, then your entry will be green. If you're slightly behind schedule, then your entry will be yellow. If you're further behind schedule, then your entry will be red. See the table below for details:

    link to schedule


    Note: As charts will be published on the 25th of each chart month - if you could have your updates in by the 24th of a chart month at the latest, that would be ideal.

    The preferred method of updating your mortgage balance is via the Google Docs chart update form, I am unable to take updates from thread posts due to the number of posts that there will be over the duration.

    Registration / updates form.
    The form below can be used to register for and provide updates for the challenge

    MFiT-T5 Form
    Last edited by trix-a-belle; 04-01-2019 at 12:11 AM.
    - Mortgage: 1st one down, 2nd: £114800 £86k
    - Student Loan: £ 7100 0!
    Swagbucks, Mingle, GiffGaff, Prolific, Qmee & Quidco; thank you MSE every little bit helps
    MFiT-T5 knocking down the mortgage to be freeee
    • trix-a-belle
    • By trix-a-belle 3rd Jan 19, 11:41 PM
    • 939 Posts
    • 4,298 Thanks
    trix-a-belle
    • #5
    • 3rd Jan 19, 11:41 PM
    • #5
    • 3rd Jan 19, 11:41 PM
    This post will always be used to enable you to locate the current chart, the chart summary and links to each of the previous charts and analysis for each chart.

    Current chart.
    The current chart is Chart 2, which was published on 25th July 2019, chart 3, is due to be published on the 25th October 2019.

    Current chart: Chart 2


    Previous charts.
    Chart 1
    Last edited by trix-a-belle; 28-07-2019 at 1:37 PM.
    - Mortgage: 1st one down, 2nd: £114800 £86k
    - Student Loan: £ 7100 0!
    Swagbucks, Mingle, GiffGaff, Prolific, Qmee & Quidco; thank you MSE every little bit helps
    MFiT-T5 knocking down the mortgage to be freeee
    • trix-a-belle
    • By trix-a-belle 3rd Jan 19, 11:43 PM
    • 939 Posts
    • 4,298 Thanks
    trix-a-belle
    • #6
    • 3rd Jan 19, 11:43 PM
    • #6
    • 3rd Jan 19, 11:43 PM
    MFiT-T5 mortgage free roll of honour.

    This post lists challengers who have become mortgage free during this mortgage free challenge. Also please post on the mortgage free role of honour thread (linked below) to obtain your mortgage free forum badge.
    http://forums.moneysavingexpert.com/showthread.php?t=493240
    Last edited by trix-a-belle; 04-01-2019 at 12:17 AM.
    - Mortgage: 1st one down, 2nd: £114800 £86k
    - Student Loan: £ 7100 0!
    Swagbucks, Mingle, GiffGaff, Prolific, Qmee & Quidco; thank you MSE every little bit helps
    MFiT-T5 knocking down the mortgage to be freeee
    • trix-a-belle
    • By trix-a-belle 3rd Jan 19, 11:44 PM
    • 939 Posts
    • 4,298 Thanks
    trix-a-belle
    • #7
    • 3rd Jan 19, 11:44 PM
    • #7
    • 3rd Jan 19, 11:44 PM
    Ok, that's the formal stuff out of the way. What's the deal then?

    In a nutshell, register and set an objective. This objective is divided by 12 with there being 12 charts and you provide 12 updates during the challenge.

    Providing you're on track to hit your goal, your chart progress colour will be green. If you're a little off your objective your chart progress colour will be yellow and if you're a little further behind, you're in the red zone but never fear it is the long game we are playing here!

    Keep an eye on these first few posts in this challenge thread as they will be updated with links to charts and further information in the coming weeks and months.

    So get your calculator out, set an objective and register.
    For reference in T3 £4million was paid off mortgages or into savings with an average of £24,000 per person & T4 **stat** but its obviously very much down to personal circumstances.

    T5 stats;


    Enjoy,
    Trix
    Last edited by trix-a-belle; 04-01-2019 at 10:35 PM.
    - Mortgage: 1st one down, 2nd: £114800 £86k
    - Student Loan: £ 7100 0!
    Swagbucks, Mingle, GiffGaff, Prolific, Qmee & Quidco; thank you MSE every little bit helps
    MFiT-T5 knocking down the mortgage to be freeee
    • ilselm
    • By ilselm 4th Jan 19, 1:38 AM
    • 32 Posts
    • 258 Thanks
    ilselm
    • #8
    • 4th Jan 19, 1:38 AM
    On it like a car bonnet
    • #8
    • 4th Jan 19, 1:38 AM
    Having read through some diaries and the impressive progress made by others on the T4 challenge, I have just signed up. Nothing like a new longer term challenge to (continually) focus the mind. Mine is to Reduce mortgage from £120,200 to £75,000. Thanks,
    • Lomcevak
    • By Lomcevak 4th Jan 19, 6:04 AM
    • 817 Posts
    • 4,813 Thanks
    Lomcevak
    • #9
    • 4th Jan 19, 6:04 AM
    • #9
    • 4th Jan 19, 6:04 AM
    Yay! I'm in - goal is to completely clear my £49,907 mortgage


    Don't mind about the number, no need to keep the old one.



    L.
    Last edited by Lomcevak; 04-01-2019 at 10:31 AM.
    MFiT-T5#6, £50k to zero: £26,498/£49,907 (53.09%), 2019 MFW#8 £33,797/£42,500 (79.52%)
    £60k-in-í19#6 £40,230.63/£60,000 (67.05%)
    • Maybe_its_because
    • By Maybe_its_because 4th Jan 19, 7:04 AM
    • 405 Posts
    • 1,271 Thanks
    Maybe_its_because
    Hi,
    We’re definitely in! Thanks Trix for setting it all back up again. Those 3 years have flown by.

    Can we post an objective of reducing our mortgage from £161,000 to £120,000 for #24

    No idea how we’re going to achieve that but I thought we’d have zero chance of achieving our MFiT4 target and we smashed it!

    Will post a registration form ASAP.

    Thanks and good luck everyone
    MIB x
    Last edited by Maybe_its_because; 04-01-2019 at 7:08 AM.
    MFW2019 #10 £2,400/5,000 Aim for MF-in-10 from 2015
    Sep'12 £233,750 Jan'15 £222,329 May'19 £157,103
    MFiT T4 #24 £48k/£34k
    MFiT T5 #24 £2,116/£41k

    £13,428 in 2012 Debt Free day 30th April 2014
    • Mortgage Minimiser
    • By Mortgage Minimiser 4th Jan 19, 7:16 AM
    • 183 Posts
    • 811 Thanks
    Mortgage Minimiser
    Morning

    Ive just registered for this thread. I didn't think I would get to my previous target but I more than smashed it, reducing from 234,787 to 189,188.

    So have set my target to reduce the mortgage from 189,188 to 140,000. More than last time but the interest has reduce quite a lot with the remortgage in December... nothing like a challenge. I figure if I don't hit it I shall still be a long way further forward than if I haven't tried at all!

    Started with a £670 OP on Jan 1st....

    Bring it on!

    MM
    x
    2016 MFW#46 O'Pd- £3641.26; 2017 MFW OP'd £7779.28 ; 2018 MFW OP'd £11,515.16
    MFiT-T4 # 59 - reduce mtg to £195,000; MFit-T5 - reduce mtg to £140,000
    Mortgage at start (01/2/2015) - £243,750. @31/12/15 - £235,906.71. @31/12/16 - £224,120.98. @31/12/17 - £210,224.06. @31/12/18 - £190,821.21
    Mortgage today £182,814
    • Suffolk lass
    • By Suffolk lass 4th Jan 19, 9:03 AM
    • 3,128 Posts
    • 28,574 Thanks
    Suffolk lass
    I would like to sign up again please - I was number 2 last time - that would be great but I am also 107 on the one year challenge (I promise not to muddle them up). I plan to completely clear my mortgage but as I have not finished over on T4 I can't tell you my start figure yet!
    MFIT T5 target to clear our mortgage completely (£59,998) Q2 £30,085 or 50.14% paid - Mortgage Free Wannabes 2019 #37 78.13% £31,251.65 including July - reducing now we have stopped work
    Save £12k in 2019 - #68 target is £7k £6,875.14 after July
    OS Grocery Challenge 2019 target is £3k - 50.52% spent so far, at end of July
    My DFD is here
    • pavlovs_dog
    • By pavlovs_dog 4th Jan 19, 9:59 AM
    • 9,820 Posts
    • 24,075 Thanks
    pavlovs_dog
    I'm back to play! Huge thanks to Trix for running the thread again

    I'd like #29 again if possible. Starting at £73,500 and aiming to get to £43,500, £30k wiped off our balance. Capital reduction and our built in OPs will take us to £25k. We need to find the remaining £5k over the 3 years to hit our target
    know thyself

    Nid wy'n gofyn bywyd moethus...
    • Brodiebobs
    • By Brodiebobs 4th Jan 19, 3:16 PM
    • 841 Posts
    • 3,416 Thanks
    Brodiebobs
    Long time lurker who needs to commit to a challenge here, prompted by o MSE'ers brilliant progresses.

    Just signed up to the rather ambitious (for us) reduction from £129,720 to under £100,000 (£99,999) to be precise.

    Look forward to seeing everyone's progresss
    Addicted to MSE.
    Overpaying mortgage for a better debt free life!
    • twinklie
    • By twinklie 4th Jan 19, 3:19 PM
    • 4,223 Posts
    • 11,093 Thanks
    twinklie
    So excited!
    Iíve not been able to join anything like this for over 6 years. I cannot tell you how excited this makes me. My aim is to reduce my mortgage by 30K.
    Iíll probably run a bit behind initially but then I hope to SMASH it! I need to focus on clearing my debts this year. But then Iím hoping to OP with more regularity!

    Iím genuinely super excited for this!
    Daily mortgage interest Aug'19 - £15.96 Reduction in daily interest - £0.51
    % of house owned/% of mortgage paid off.
    Julyí19 - 13.2%/3.2%
    MFiT-T5 #13
    Aim to be debt free by the end of 2019. % remaining Aug'19 - 43.2%
    • Urbanshyne
    • By Urbanshyne 4th Jan 19, 6:38 PM
    • 80 Posts
    • 410 Thanks
    Urbanshyne
    Hello all,

    I haven't tried this challenge before, so I'm new to this game. I've been posting regularly on the yearly Mortgage Free Wannabe threads but really I've been waiting for a new MFiT thread to come up!

    My current mortgage balance stands at £48,865 and it's my intention to clear that within 2 years. I hope to be mortgage free for Christmas 2020.

    Good luck to everyone.
    US
    Neither a borrower or lender be; for loan oft loses both itself and friend.
    • trix-a-belle
    • By trix-a-belle 4th Jan 19, 10:51 PM
    • 939 Posts
    • 4,298 Thanks
    trix-a-belle
    Wow so many familiar and new faces already!!
    i'll gradually work through assigning numbers over the next week, newbies i'll sort the old timers first who want to keep previous numbers so bear with.

    Announcements..

    Maybe its Because please can you pop a registration form through with your objective so i've got it committed (Google Docs commitment is as close as I can get to a signature in blood via the internet )
    SL you can always give me a rough starting figure now and update more accurately later sweetie
    Twinklie Please can you put your registration form through again, if I understand what you've said you are an object 2 (reduce from £X to £Y, rather than objective 1 £X to £0) & I need to know your actual starting balance for the challenge, you can always give a current estimate of your starting balance now so I can get you locked in then update to an accurate starting figure later.

    Thanks
    Trix
    - Mortgage: 1st one down, 2nd: £114800 £86k
    - Student Loan: £ 7100 0!
    Swagbucks, Mingle, GiffGaff, Prolific, Qmee & Quidco; thank you MSE every little bit helps
    MFiT-T5 knocking down the mortgage to be freeee
    • twinklie
    • By twinklie 4th Jan 19, 11:53 PM
    • 4,223 Posts
    • 11,093 Thanks
    twinklie
    Twinklie Please can you put your registration form through again, if I understand what you've said you are an object 2 (reduce from £X to £Y, rather than objective 1 £X to £0) & I need to know your actual starting balance for the challenge, you can always give a current estimate of your starting balance now so I can get you locked in then update to an accurate starting figure later.

    Thanks
    Trix
    Originally posted by trix-a-belle
    You were correct.
    I hope what Iíve put through makes sense. If not I promise not to submit anything after a few drinks again!
    Daily mortgage interest Aug'19 - £15.96 Reduction in daily interest - £0.51
    % of house owned/% of mortgage paid off.
    Julyí19 - 13.2%/3.2%
    MFiT-T5 #13
    Aim to be debt free by the end of 2019. % remaining Aug'19 - 43.2%
    • liuhutOz
    • By liuhutOz 5th Jan 19, 6:06 AM
    • 174 Posts
    • 638 Thanks
    liuhutOz
    Hi all
    My mortgage currently stands at $560,000. A lot of money and way more than I want it to be at. I would love to get it down to $440,000 in three years.
    Formally liuhut
    WIN £2008 in 2008 £1836.31 2009 wins - £91!!! 2010 6170.... wins 2011 aprox 2000
    • julicorn
    • By julicorn 5th Jan 19, 7:41 AM
    • 794 Posts
    • 3,269 Thanks
    julicorn
    Thanks so much for running this challenge again, trix-a-belle! So excited to join this one.

    Our goal is to get the mortgage below £100k. It's a real stretch (our current overpayment plan would only get us to £113k), but a little bit of optimism has never hurt anyone!
    Original mortgage: December 2017, £203,495
    MFW start: April 2018, £201,800
    Current: £165,200
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