2010 MF Wannabes

No 15 reporting in - made overpayment of £200 to mortgage today so the total overpayment for October is £740.

Paid £100 o/p today.

MFW No.177 checking in just now with an OP of £1250.

This was possible with holiday pay from my last wage and after 2 months gardening leave I start my new job on Nov 1st. Roll on November and well done everybody.:)

Oh and meant to add that's me below the 70k barrier. Woop.

Number 180 checking in for final payment.

Well, it's here. The moment I've been working towards for almost 9 years now, though only really going for it for 4 (since I bought my housemate out). It seems silly it took 7 years to pay the first £45K, but only 20 months to pay the last £91K.

Usually I wait for the payment to actually clear before posting, but I think I prefer to post now and post in the MF roll thread on Friday in 2 days time which is usually how long Nationwide take for it to hit the mortgage account. I might actually believe it by then too.

£1 nominal balance left to keep product open in case need to borrow back in the future.

£1630 overpayment + £7 mortgage payment (£3.47 of which is interest):

Old Mortgage balance: £1,665
New Mortgage balance: £1 (£27,123.94 paid off since start of 2010) - 99.94% balance payment this month

Milestone achieved: 0 days left.
Milestone achieved: Final payment
Milestone achieved: 0p interest a day (was 11.4p, now 0p)
Milestone achieved: £0 interest a year

Target achieved!: Mortgage Free 27/29th October 2010

Statistics:

Total house purchase: £134,750
Total interest paid: £25,278
Total payments: £160,027 (118.8%)
Duration: 8 years 10 months (3239 days)

Lowest yearly capital paid back: £884 (2002)
Highest yearly capital paid back: £64,009 (2009)
Largest capital pay back burst period: £91,000 (20 months from Jan 09 - Oct 10)

Lowest yearly interest paid: £272 (2010) or excluding this year, £1,488 (2009)
Highest yearly interest paid: £5,234 (2007) - £14.34 per day


Well done to everyone overpaying whether it's £1 or £1million, whether you have decades left or just 1 day. It's worth it.

I'll wait until Friday to post in the MF roll, but can't promise to leave out stats and might even include a graph or 2 (eek). Remember that maths help control the fun ™ - Pencekeeper 2010

pencekeeper Bravo! Hurrah! What are your plans now???