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    • julicorn
    • By julicorn 7th Dec 18, 12:43 PM
    • 817Posts
    • 3,351Thanks
    2019 Mortgage-Free Wannabes
    • #1
    • 7th Dec 18, 12:43 PM
    2019 Mortgage-Free Wannabes 7th Dec 18 at 12:43 PM
    Welcome to the Mortgage Free Wannabe 2019 thread!

    First of all, huge thanks to hiddenshadow for setting up and running the last few challenges, and also for pawlala for updating the spreadsheet last year. Without you, I doubt we would have been able to overpay anywhere near as much as we did.

    Because I don't think it can be said any better, here is the intro text from the previous years:

    Mortgages can seem so huge and long-lived that it often feels pointless to make over-payments - what's the point in paying £50 off a £100k mortgage? But even small overpayments have a dramatic effect; that £50 extra a month would cut almost four years and £10k of interest off the mortgage. And £200 a month? Without any overpayments you'd still owe more than half the original balance after 15 years, with the £200 ... you'd owe nothing and be mortgage free ten years early. Big difference, and that's why chipping away at the mortgage with whatever extra cash we can muster is (for most of us, at least) one of the best long-term steps to improve our finances we can make.

    Still, even when you 'do the math' the long road to getting rid of your mortgage still feels hard on your own, so we have this thread to set targets and report progress during 2019. Whether you're a brand new mortgage free wannabe, a veteran on the final stretch of the long slog, or someone who has cleared the mortgage and wants to provide some help and encouragement for others, this is for you. The challenge runs from January 1st-December 31st 2019, and you can join or change your target at any time up until December 31st. And if you're expecting to be mortgage-free before then, you're still very welcome. Likewise if you're saving towards something house-related (extension, new OP allowance, etc.).

    See how we are all doing on the big MFW 2019 spreadsheet HERE

    Links to previous challenges are here:


    If you've participated in the last few years, please let me know by the end of January whether you want to take part again and what your goal is for this year. Please also let me know whether you would like to keep your number or whether you don't mind - I want to re-allocate some of the 'lower' numbers, so now is your chance to snap up one that isn't triple digits.

    For all the new participants, please post on the thread and I'll allocate you a number - numbers will be first come, first served.

    Bear in mind that the challenge runs for the 2019 calendar year when setting your target. You're welcome to track total payments, overpayments, savings, etc. - whatever motivates you!

    To provide progress updates and/or change your target, just post on the thread - I'll 'thank' posts when I pick up the update. I do make mistakes from time to time, so if I miss an update or get it wrong then please let me know.

    A few requests from me to make keeping track easier:
    • When providing updates, please include your MFW2019 number and the month(s) you are updating
    • Multiple overpayments in a month are fine and most certainly encouraged, but it will really (really, really) help me if you keep a running total when reporting updates (e.g. ...another OP of £200, which makes £600 in total for April...)
    • It's fine to miss a month or two and then provide updates for several months if you prefer, but please make it clear what you want allocating where.
    • It is helpful for me if you keep a running total for the year in your update post and/or your signature as I can cross-check the spreadsheet against your overall total, but this isn't required.

    Updates also don't have to be limited to just your stats - a bit of chat and encouragement can be hugely motivating.

    Finally: It's a new spreadsheet, and (as much as I hope not!) it may have the odd teething problem to start with. If you spot any mistakes, let me know, and I'll try and fix them ASAP. Similarly, if you have any requests for additional stats/features, let me know, and I'll see what can be done.
    Last edited by julicorn; 05-01-2019 at 7:31 AM.
Page 63
    • WorldCitizen
    • By WorldCitizen 14th Aug 19, 9:35 PM
    • 66 Posts
    • 102 Thanks
    Hi there, number 59 with my August OP of £453.06.
    2019 total = £1676.79.
    Thanks Julicorn!
    Mortgage Balance: £51,500
    • jackieblack
    • By jackieblack 15th Aug 19, 6:58 AM
    • 8,893 Posts
    • 14,609 Thanks
    #4 an additional OP of £54.36, making £104.36 for August

    Thanks julicorn
    2.22kWp Solar PV system installed Oct 2010, Fronius IG20 Inverter,
    south facing (-5 deg), 30 degree pitch, no shading

    Quidquid Latine dictum sit altum videtur

    MFW #4
    (2018 £866.89 OPd)
    YTD £973.85 (£650 offset)
    Jan £105.26, Feb £103.31,Mar £135.77, Apr £104.51, May £100, June £100,
    July £120.64, Aug £104.36, Sep £100.00

    Everything will be alright in the end so, if itís not yet alright, it means itís not yet the end
    • taka
    • By taka 15th Aug 19, 11:19 AM
    • 3,294 Posts
    • 17,636 Thanks
    I've made a few further OPs in the last few days: A bit of found change, £2 coins in my shopping, co-op points used (and the money I would have used OP'd instead) and assorted interest from transferring/closing a few current / savings / cash ISA accounts around to improve interest rates. (£347.71 since my last update)

    This will reduce my outstanding mortgage to £5546.36 by the end of the month and will knock a further 6 months off the term when it is next recalculated. Interest is now down 3p a day since the start of Aug to just under 42p per day.

    #51 Aug reduction total = £451.41
    (Aug-Dec 19 MFW 2019 challenge = £451.41/£1997.77)

    Thanks Julicorn!
    Last edited by taka; 15-08-2019 at 11:22 AM.
    2019 MFW #51 £1100.07/£1997.77
    MFiT-5 no 45
    MF date Dec 27, Oct 25
    You can't fly with one foot on the ground!
    • squirrelgirl
    • By squirrelgirl 15th Aug 19, 3:42 PM
    • 462 Posts
    • 2,489 Thanks
    Number 58...quick update as have been really busy in rl!!

    June £700; July £670

    Will update August later in the month
    12 Month Challenge:[COLOR=]"Red"Mortgage - £5929/£16000 ; MFW 2019 No. 58 GC £737.26/£3600 Jan £270/Feb £50/ March £87.26/April £180/May £150
    • Dobbibill
    • By Dobbibill 15th Aug 19, 8:50 PM
    • 3,795 Posts
    • 5,148 Thanks
    #45 here checking in with August's update.

    £20.43 at the beginning of the month.
    usual OP of £63.11 and also additional OP of £135.

    Total for August currently at £218.54

    Finger's crossed I can find a few quid before the month is out to get me to my goal's so close

    • teameffort
    • By teameffort 15th Aug 19, 9:31 PM
    • 107 Posts
    • 495 Thanks
    49# £720 O/P'd for August please Juilcorn, thanks again for keeping us on track

    Onward and downwards
    Debt Free and Saving like mad
    Emergency fund £10,000/£10,000 We did it!

    2019 #49 MFW £7,598.78/£9,600.00
    2018 #143 MFW £6,903.63/£6500.00
    MFW balance as at Dec 18 91,000.00. Original end date 2043 goal 2023
    • skippie
    • By skippie 15th Aug 19, 10:20 PM
    • 74 Posts
    • 112 Thanks
    #144 June £534
    July £136 thanks
    Last edited by skippie; 15-08-2019 at 10:24 PM.
    MFW #144 £0/£5000 2019
    • Rainbowsky
    • By Rainbowsky 16th Aug 19, 5:56 AM
    • 25 Posts
    • 188 Thanks

    Morning all,
    #34 here with an additional OP of £100 making a total for August of £460.
    Well done everyone.
    Thanks Julicorn
    MFW #34 2019 £4870/£5000
    • Lomcevak
    • By Lomcevak 16th Aug 19, 2:32 PM
    • 833 Posts
    • 4,871 Thanks
    #8 with an OP of £1,410.36 to start off August, £33,796.54 for the year so far. Will be a bit more mid-month once I've finalized the budget.

    Takes me under the £25k mark! 9 months to go
    Originally posted by Lomcevak

    Another £600 for #8 please, making £2010.36 for August.
    MFiT-T5#6, £50k to zero: £28,828/£49,907 (57.87%), 2019 MFW#8 £36,469/£42,500 (85.80%)
    £60k-in-í19#6 £56,478.55/£60,000 (94.13%)
    • kitjos
    • By kitjos 17th Aug 19, 2:55 PM
    • 209 Posts
    • 1,250 Thanks
    Hi Julicorn! #14 with OP of £100. That's a total of £426 so far this month (Aug). Not sure if i can squeeze another payment out this month, ill give it a go tho! xx

    Many thanks for your continued hard work xx
    "Don't underestimate the value of financial security"

    Wanting to be mortgage comfortable. £155,000 start / £95,400 currently / £50,000 goal

    Loan to be paid off asap. £16,220 start / £13,998 currently / £0 goal
    • Bracelovers
    • By Bracelovers 19th Aug 19, 9:49 AM
    • 25 Posts
    • 123 Thanks


    We've had an expensive few months including a dishwasher, new car (second hand) and dog went wrong we've only managed another £250 so to date now £1750 in additional payments!!

    On a plus note - he's had a wage increase so we should be able to pay more frequently and amount ������
    • longway2go
    • By longway2go 19th Aug 19, 10:53 AM
    • 67 Posts
    • 176 Thanks
    Can I join please. Mortgage balance start point 160424.50 and looking to op by 1% (1604. 25).

    Overpayment made Aug 1000

    Thank you
    Mortgage - 161K

    Overpayments to commence when mat leave finishes. Making a better life for our children 😁

    • erin_transport
    • By erin_transport 19th Aug 19, 7:50 PM
    • 857 Posts
    • 3,404 Thanks
    #138 checking in with £60 overpayment. That’s me officially at the 50% mark.
    Can I reduce my total to aim for to £4250 please. Think I was over ambitious at the start of the year. Don’t want to get demotivated.
    Last edited by erin_transport; 19-08-2019 at 8:02 PM.
    On a mission!

    2018 & 2019 MFW #138

    On babystep2 (#DR)
    • julicorn
    • By julicorn 19th Aug 19, 8:04 PM
    • 817 Posts
    • 3,351 Thanks
    Can I join please. Mortgage balance start point 160424.50 and looking to op by 1% (1604. 25).

    Overpayment made Aug 1000

    Thank you
    Originally posted by longway2go
    Hi longway2go, I've already got you down as #108 from a couple of months ago. I'll adjust your goal though and log your overpayment
    Original mortgage: December 2017, £203,495
    MFW start: April 2018, £201,800
    Current: £162,500
    • MrsMouse
    • By MrsMouse 21st Aug 19, 10:58 AM
    • 34 Posts
    • 195 Thanks
    Hi Julicorn, August OP made of £71.36 please

    #47 - 2019 MFW (Target: 699.15/1000.00)
    #15 - 3/6 month Emergency Fund Challenge
    • Hettyhound
    • By Hettyhound 21st Aug 19, 11:17 AM
    • 254 Posts
    • 1,482 Thanks
    Hello Julicorn,

    I've made another £10 over payment thanks to the postcode lottery. So that's number 90 with an August total of £60
    SPC #120
    MFW #90 Mortgage start Dec 2015 £79,950; September 2019 £59,918.16; 2019 OP £1294.69/£1500
    • Runders
    • By Runders 22nd Aug 19, 3:45 PM
    • 260 Posts
    • 740 Thanks
    HI Julicorn/all

    #109 here with another OP of £16.15, taking my august total to £225.11

    I don't think I'll squeeze anymore out of August and I just had to spend out on the roof....eep!

    MFW Start: Sep 2014 - £110,844, July 2019 New Home £190,995
    Current: £82,999.69 £190,972.18
    2019MFW #109 OP Goal £470.74/£1000
    • chunkytfg
    • By chunkytfg 22nd Aug 19, 5:04 PM
    • 772 Posts
    • 815 Thanks
    It's official! After 10 months of hassle I finally completed today and now owe the bank £369,000!!!

    Time to make a very small start on it!
    Those who risk nothing, Do nothing, achieve nothing, become nothing
    MFW #63 £0/£500
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 22nd Aug 19, 5:07 PM
    • 2,375 Posts
    • 13,125 Thanks
    It's official! After 10 months of hassle I finally completed today and now owe the bank £369,000!!!

    Time to make a very small start on it!
    Originally posted by chunkytfg
    Wow on many levels, the length of the time it's taken and the size of it. I imagine though, even a tiny overpayment will actually make a big difference over the long term. Cheering you on woop woop.

    Outstanding mortgage: £27,000
    MFW 2019 Challenge Member #28: £800.something/ £2860
    • Kittenkirst
    • By Kittenkirst 22nd Aug 19, 5:56 PM
    • 2,142 Posts
    • 11,934 Thanks
    Hi all! I’ve not updated in ages....super sorry!

    So my updates are;

    May: £49.80
    June: £29.69
    July: £186.19
    August (so far): £285.31

    Which takes us to a nice £2685.20.

    Still a little while to get to our yearly target but the overpayments haven increased after having to slow down and rebuild the cat savings pot after Oscars eye surgery! (Oscar is back to normal and happily chasing the local wildlife!)
    2019 MFW #20£1172.70/ £4500 26%

    Mort- Oct16 £170.995 (end Nov 2041) Dec18 £152,838

    Overpayments 2016 £255.50 2017 £2600.40 2018 £4500
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