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    • trix-a-belle
    • By trix-a-belle 4th Jan 19, 12:36 AM
    • 873Posts
    • 3,754Thanks
    trix-a-belle
    The Mortgage Free in Three - Take 5 challenge (MFiT-T5)
    • #1
    • 4th Jan 19, 12:36 AM
    The Mortgage Free in Three - Take 5 challenge (MFiT-T5) 4th Jan 19 at 12:36 AM
    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 TBD
    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 45,000.
    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 79,000 to 22,000.
    28 lindez Reduce my mortgage from 65,000 to 45,000.
    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 41,000 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.
    ...
    39 Anagran Reduce my mortgage from 95,000 to 85,000.
    ...
    44 CathT Reduce my mortgage from 118,973 to 85,973.
    ...
    53 Bunty109 Completely clear my 74,860 mortgage.
    ...
    59 Mortgage Minimiser Reduce my mortgage from 1,891,899 to 140,000.
    ...
    70 ajmoney Reduce my mortgage from 100,000 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; 12-01-2019 at 10:56 AM.
    - Mortgage: 1st one down, 2nd: 114800 96k
    - Student Loan: 7100 0!
    Swagbucks, Neobux, GiffGaff, Roamler, Qmee & Quidco; thank you MSE every little bit helps
    MFiT-T4
Page 3
    • Chutney86
    • By Chutney86 11th Jan 19, 5:27 PM
    • 300 Posts
    • 2,742 Thanks
    Chutney86
    Thanks for running the thread trix-a-belle

    I've submitted a registration form and I am aiming to increase my savings from 5,000 to 20,000 during this challenge.
    SPC #23 - 2015 = 319.60 / 2016 = 315.50 / 2017 = 490.75 / 2018 = 295.50 / 2019 =
    MFW #93 - 2017 = 1942.84/1900 / 2018 = 8591.23/9050
    MFiT-T4 #28 = reduced mortgage from 109,000 to 77,000
    MFiT-T5 #34
    • AvidSaver
    • By AvidSaver 12th Jan 19, 7:51 PM
    • 48 Posts
    • 289 Thanks
    AvidSaver
    Latest Challenge
    Hi, Id really like to join this challenge. Having participated in previous challenges, I am hoping this will be my last one as I am aiming to completely clear my 84,219 mortgage.
    • JEdwards
    • By JEdwards 13th Jan 19, 9:43 PM
    • 1 Posts
    • 7 Thanks
    JEdwards
    I’m a long term lurker who has finally got brave enough to give my first ever challenge a go. Having just bought out my ex husband, my aim is to reduce my 80k mortgage to 50k by the end of the 3 years, because that feels achievable. However, given that I’m on a great fixed term rate for 3 years with Platform mortgages, anything over and above my goal ready for when I have to change mortgage in 2022 would be brilliant.
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