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    • julicorn
    • By julicorn 7th Dec 18, 12:43 PM
    • 659Posts
    • 2,853Thanks
    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 40
    • Rainbowsky
    • By Rainbowsky 11th Apr 19, 7:11 AM
    • 13 Posts
    • 86 Thanks

    Morning all,
    #34 signing in with an OP of £85.27 making a total so far for April of £385.27.
    Well done everybody and thank you Julicorn for your continued hard work 😀
    MFW #34 2019 £1550.37/£4500
    • miss undastood
    • By miss undastood 11th Apr 19, 10:48 AM
    • 154 Posts
    • 367 Thanks
    miss undastood
    #56 back again

    +£629.77 from PayPal taking April to £2,911.04 (I believe!)

    It’s staggering to think what we could collectively buy with our overpayments.

    Also I have £781.27 set up as a regular monthly overpayment going forwards - this will increase in October when I can transfer funds to my mortgage (as they are reducing the monthly payment) as I want to keep my bigger mortgage payments at £1000/month once I’m off my fix so I’m pretending I’m paying at that level with no commitment. I’d rather have a £600 mortgage payment and £400 overpayment than reduce my term and have to pay £1000 if you see what I mean. (Unfortunately £31.27 is my current bridge to £1000)
    • life is sweet
    • By life is sweet 12th Apr 19, 5:33 PM
    • 24 Posts
    • 144 Thanks
    life is sweet
    Hi all,


    Reporting £1250 overpayment for March.

    Well done everyone , we are doing great and over a quarter way through the year already.

    As additional motivation and reward, I am planning to cook a nice family meal every quarter to celebrate whatever we manage to pay off in those 3 months.

    #11 MFW 2019. 3750/15000
    MFW 2018 £6676/£7000, MFW 2017 £6664/£10,000
    Original MF date June 31/Current MF date October 26/ Target MF September 21
    I can do it!
    • Urbanshyne
    • By Urbanshyne 12th Apr 19, 6:09 PM
    • 75 Posts
    • 360 Thanks

    No.54 with an additional OP of £2000 for April, bringing the total so far this month to £3500.

    Best, US
    Neither a borrower or lender be; for loan oft loses both itself and friend.
    • weenemo
    • By weenemo 14th Apr 19, 1:15 PM
    • 12 Posts
    • 41 Thanks
    #76 checking in with April's regular over payment of £550.
    Thank you Julicorn. I keep my own spreadsheet to track where we are with reducing the term as the mortgage company only gives us twice yearly statements but this is so satisfy and motivating. A good reminder too that it's worth throwing the smallest amount at the mortgage too.
    • iquit
    • By iquit 14th Apr 19, 3:46 PM
    • 1,904 Posts
    • 2,955 Thanks
    Hello fellow MFW

    Late March OP update of £3350.00
    2019 MFW No. 74 £13700/£30000 (45.66%)
    12k in 2018 No. 98 £6274.19/£18000 (34.85%)

    BTL (start) £97440.00 (current) £68000.00
    Residential (start) £275000.00 (current) £268000.00
    • Moneybutterfly35
    • By Moneybutterfly35 14th Apr 19, 4:22 PM
    • 83 Posts
    • 407 Thanks
    #31 sorry it’s been a while. March was £50, I’m hoping to do a lot more at the end of this month.

    ( MFW #31 . £2 challenge #35. 1% challenge #25 440/22000 EF challenge #244 713/2000 )
    • benmclaughlan
    • By benmclaughlan 14th Apr 19, 4:31 PM
    • 32 Posts
    • 178 Thanks
    #87 another £25 over payment for April total of £525 for the month so far. Thanks Ben
    • chunkytfg
    • By chunkytfg 15th Apr 19, 3:16 PM
    • 637 Posts
    • 705 Thanks
    23 weeks since our offer was accepted on a no chain simple sale and still no progress.

    On the up side my very large mug/mortgage OP pot of change in my locker at work is virtually full and at last count has about £125 in it!
    Those who risk nothing, Do nothing, achieve nothing, become nothing
    MFW #63 £0/£500
    • Nichelette
    • By Nichelette 15th Apr 19, 6:33 PM
    • 1,816 Posts
    • 2,853 Thanks
    #86 checking in with an overpayment of £1529.72, but am hoping for more before the end of the month. Thanks julicorn
    Finally bought a home
    Starting mortgage £289,500 31.01.19 - Current outstanding £283,886.07
    MFW #86 - Aiming for 15k in 2019
    Overpayments so far: £3354.72
    • Dobbibill
    • By Dobbibill 15th Apr 19, 8:04 PM
    • 3,629 Posts
    • 4,856 Thanks
    #45 popping in with the regular OP of £63.11.

    Here's my running total
    Jan total - £205.34
    Feb total - £260.11
    March - £189.21
    April - £69.60......may be able to squeeze a little more before the end of the month but the garden project has taken priority so we'll have to see.

    YTD - £724.26

    Thanks Julicorn
    • Hettyhound
    • By Hettyhound 15th Apr 19, 9:40 PM
    • 60 Posts
    • 577 Thanks
    #90 just made an overpayment of £80 so my total so far for April is £92. Next OP will be right at the month end on payday and hoping it will lift me out of the “must try harder” category
    SPC #120
    MFW #90 Mortgage start Dec 2015 £79,950; March 2019 £63,380; 2019 OP £72.47/£1500
    • Lomcevak
    • By Lomcevak 16th Apr 19, 6:39 AM
    • 804 Posts
    • 4,699 Thanks
    #8 with £2234.10 overpaid for April, I make that £17,167.76 for the year so far. Next month the 40's will be done, then down into the 30's
    Originally posted by Lomcevak

    Overpayment of £10,000 today, making £12,234.10 for April and £27,167.76 for the year so far. Next month the 30's will be done, then down into the 20's

    Sadly that's the last of the big OPs now, based off a couple of other investments maturing. Back to chipping away at it
    Last edited by Lomcevak; 17-04-2019 at 5:22 PM. Reason: typo
    MFiT-T5#6, £50k to zero: £17,456/£49,907 (34.98%), 2019 MFW#8 £27,168/£40,000 (67.92%)
    £50k-in-’19#6 £30,354.86/£50,000 (60.71%)
    • Schoolworker
    • By Schoolworker 16th Apr 19, 8:35 AM
    • 327 Posts
    • 722 Thanks
    No 72 reporting in as made an overpayment yesterday of £800. That's me for April.
    • taka
    • By taka 16th Apr 19, 10:18 AM
    • 3,230 Posts
    • 17,194 Thanks
    No 51 reporting in with an April OP of £74.16.

    A bit more than usual as I split my 5% reg saver interest payout into my "savings" pots - 1/3 for new windows, 1/3 car savings and 1/3 mortgage OP. Also used an amazon voucher so the equivalent got split 3 ways to "savings" too. There probably won't be much more unless I get a run on £2 coins in my change!
    2019 MFW #51 £218.27/£500
    MFiT-5 no 45
    You can't fly with one foot on the ground!
    • teameffort
    • By teameffort 16th Apr 19, 5:11 PM
    • 99 Posts
    • 441 Thanks
    Hi All

    It's great seeing all the over payments!!

    #49 checking in with April's over payment total of £801.23. We've managed to make full use of the over payment allowance for the year, new over payment year starts May 1st so looking forward to seeing the numbers come down even more

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

    2019 #49 MFW £3,998.78/£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
    • lindez
    • By lindez 16th Apr 19, 8:38 PM
    • 497 Posts
    • 2,152 Thanks
    Good evening all.
    #44 with an update £28.00 over payment today total now stands at £534.00 for April. This will probably be the last update for April.
    Thank you Julicorn.
    MFTT5 #28
    save 12k in 2019 #71
    • julicorn
    • By julicorn 17th Apr 19, 9:48 AM
    • 659 Posts
    • 2,853 Thanks
    No 72 reporting in as made an overpayment yesterday of £800. That's me for April.
    Originally posted by Schoolworker
    Well done! Just to confirm, is that on top of your previous overpayment this month (April total: £855) or is it £800 in total?
    Original mortgage: December 2017, £203,495
    MFW start: April 2018, £201,800
    Current: £175,350
    • squirrelgirl
    • By squirrelgirl 18th Apr 19, 6:00 AM
    • 431 Posts
    • 2,312 Thanks
    No.58 - payment of £860 today bringing April total to £2870
    12 Month Challenge:[COLOR=]"Red"Mortgage - £4900/£16000 ; MFW 2019 No. 58 GC £587.26/£3600 Jan £270/Feb £50/ March £87.26/April £180
    • Suffolk lass
    • By Suffolk lass 18th Apr 19, 7:25 AM
    • 2,668 Posts
    • 25,949 Thanks
    Suffolk lass
    Morning all, just back from hols and thought I should check in.

    Our April update is #37 just the DD OP of £440.60 please julicorn.

    I must see how we go before paying more as I have had to top up the running costs account by £500, suggesting I have forgotten something big.
    MFIT T5 target to clear our mortgage completely (£59,998) - Mortgage Free Wannabes 2019 #37 £26,242.80 after Mar
    Save £12k in 2019 - #68 target is £7k £3,669.04 after Mar
    OS Grocery Challenge 2019 target is £3k - 23.57% spent so far, after starting April shops
    My DFD is here
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