2011 mfw

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Comments

  • rockabelle
    rockabelle Posts: 80 Forumite
    It is indeed awesome! What's also great, is that I've apparently saved about 28k of interest too :j (Initial expected total interest to be paid, assuming rates stay the same for the whole mtg, was 94,300, and it's now down to 63,000 (plus the 3.4k I've already paid)
    I knew overpaying was good etc, but I have to admit, I never though that by paying off an extra 13k, I'd save 28k! Bonkers, and I'm now going to have to keep up the good work!
    MFiT T3 no 115, MFW 2015 no 65
    April 2011 balance when mtg started 300,000
    March 16 2015 balance - 165,972
    MFiT T3 target 190,000 - REACHED!!!!:beer:
  • Barny1979
    Barny1979 Posts: 7,921 Forumite
    Name Dropper First Anniversary First Post
    Payment of £404.19 made to get to £35k overall :-)
  • Poppycat1
    Poppycat1 Posts: 376 Forumite
    Photogenic Name Dropper First Post First Anniversary
    Hi, I don't post often but I am still keeping up with the challenge.

    Just declared an overpayment of £45 for September. This takes my total overpayment to £3751 which leaves my outstanding mortgage £107,385.

    Since mid September I have been putting the overpayment into a savings account attached to mortgage (offset) and now have £290.

    So the total is £4086 paid off this year so far this year, £1914 to find to get to my target of £6000.
    Without overpayments: 15 years, 1 monthsBecause of overpayments: 10 years, 10 months left until paid off
  • fillyfop
    fillyfop Posts: 318 Forumite
    First Anniversary Combo Breaker
    I fully fell off the MFW wagon :( The last 3 months in a row I've actually had overSPENDS (I'm on an offset mortgage so it's very easy to fall into that trap!) and I struggle to think how!

    So, having seen how quickly and easily I undid all my previous good work, I started getting serious again. I did a spending diary for a month then set achieveable targets for spending in each category. I'll allow myself to overspend only if I have a previous underspend in the same category to net it out.

    So, all in all, ... my October result is that I've overpaid by £629.88 :j About time!! I'm thrilled with the turn around I managed and with the backup of the spending diary and targets, I'm sure I can stick with my progress!
  • Emsky123
    Emsky123 Posts: 180 Forumite
    Mortgage-free Glee!
    Last payment of the year sent - £1000, Im now at my OP limit and cannot make any further OP's till next April :cry:

    Still i have OP by £9300 this year so cant complain and will still save my OP's ready for next years attack!
    Balance as at Dec 2010 £88,000
    Balance as at Oct 2013 £0
    Original MF date 01.05.2027 :mad:
    Morgage free as of 24/10/2013 (13.5 years early) :j
  • blizeH
    blizeH Posts: 1,361 Forumite
    Name Dropper First Anniversary First Post
    I can't believe I'm saying this just after my post above, but pay day today and I've managed to overpay £1,000! (will hopefully not regret that when my mortgage comes out next month) - back on it! Really hate that my OCD keeps getting the better of me, and won't let me overpay in non-round figures - really bad reason for stretching myself, argh.
  • Barny1979
    Barny1979 Posts: 7,921 Forumite
    Name Dropper First Anniversary First Post
    £10,500.00 for 2011 now :)
  • pammyj74
    pammyj74 Posts: 3,290 Forumite
    £200 OP for NOV, total now £7800 for the year.
    MPs left feb '08 276- Dec 13 36 :T MB Jan 10 ~ £82,377 Dec 13 ~ £29987
    EMFD was Feb 32 :eek: NOW Dec 2013 its Dec 2016
    MF new target Dec 16 REACHED!! :j
  • uzubairu
    uzubairu Posts: 1,200 Forumite
    First Anniversary Combo Breaker First Post Home Insurance Hacker!
    Since the last update, I've gone and purchased a new (pre-registered) car.
    Got a good value for my traded-in car and the new car was discounted too.
    The difference was funded from the mortgage overpayments savings (£7,500), so overpayment savings have decreased and I've revised my year end target to reflect this.

    October Update
    October overpayment :- £950
    Year To Date Overpayments (revised) are:- £11,054.
  • originalmiscellany
    originalmiscellany Posts: 1,655 Forumite
    First Post Combo Breaker First Anniversary Mortgage-free Glee!
    3K paid for this month - looking good! All thanks to a great wife who is willing to support 100%. What a woman she is :)
    I think it's a total of 32k this year.
    Feb 2012 - onwards MF achieved
    September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
    April 2018 down to 28.00 months vs 30.04 months at normal payment.
    Predicted mortgage clearing 03/2047 - now looking at 02/2045
    Aims: 1) To pay off mortgage within 20 years - 2037
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