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[ironman1]

Hello.

I will join please.

Because of job circumstances etc I will put me and the missus down for £3000. We have almost reached that target since starting 6 months ago but I really want a holiday next year and who knows about overtime etc eh!

Cheers

[agile83]

Am glad to join.

I am aiming to overpay by £200 per month and hopefully will be able to put a lump sum payment of £2000 towards mortgage by the middle of next year.

Current mortgage balance is £99500, aiming to get nearer to £93000

Kind Regards

[moneysavingotter]

Hi,

Brilliant, another challenge! I would like to join with the aim of getting the mortgage down to at least £133,000 please. Many thanks.

Ms Otter

[the three of us]

Hello

I'd love to join in too - I'm going to aim for £2500. Not a huge amount but I have a couple of months early in the year with big expenses that will be tight and I will also be made redundant in September - so I don't want to aim too high and fail .

thank you
TheThreeOfUs

[cake21]

Welcome all newbies!
Sorry to hear about your redundancy, the three of us, hope something comes up soon.

Originally Posted by taka

See here post 52 onwards if you'd like to be bored... . Option 2 and 4 are the only runners now and there is much resistance to option 2 in my dept. I'm just not 100% sure spending over £20k (option 4) will be worth it long term as there is a reasonable chance I'd be no better off

That thread is a very thorough answer, thanks
To badly paraphrase you, wouldn't the £20k be worth it in the sense that you'd be enjoying your work/study a lot more in the intervening years, even if it didn't translate into a higher salary at the end of you?

Originally Posted by taka

Lowest amount OP'd to date 29p!

That blows my £3 OP out of the water

Originally Posted by taka

For your decision... What would make you the happiest? What would give you the best combination of work/life balance? What would be the best for you (and your family?), for your career, for your health? OPing your mortgage is great but its not the be all and end all ( )... You need to have a life and enjoy it at the same time... and your job is a big part of that. Who knows what lies ahead...

Agree completely with the principle
Unfortunately I'm one of nature's ditherers. I love my job, but it has a lot of travelling, and I love being at home, but if I got a more local job I couldn't afford my house (not without a struggle for the remaining 23 years ), and I'd miss the travelling

Conclusion (for the moment ): OP like mad, so finances don't have to be part of the equation

[gallygirl]

Originally Posted by cake21

That blows my £3 OP out of the water

A £3 overpayment - ooooohhhhh, there's posh. Show off .

I have transferred 10p before when I c*cked up a transfer & was 10p out - but I don't think it counts unless you actually go into a branch & pay it

[ch1ca]

Can I have a MFW number pretty please?!

I am not sure about OP tagets quite yet though as I am moving job role next month and will be losing out on a regular payment for working away from home so it will depend on how I manage my finances! So can I please update you on that next month?

The 2009 challenge has really helped me though as I started OPs in Jan and have almost paid off £7000!! My target was £5000 so I have smashed that!

Thanks very much to Zavarony for all of the updates and to all the MSE's for the motivationa nd help this thread (and the forum) has given me.

Roll on 2010 and being closer to that Mortgage Free goal, well doen everyone!

[cake21]

Originally Posted by gallygirl

A £3 overpayment - ooooohhhhh, there's posh. Show off .
I have transferred 10p before when I c*cked up a transfer & was 10p out - but I don't think it counts unless you actually go into a branch & pay it

I feel a poll coming on...

I had a phone query about my mortgage and had to sit through the guy saying, there's an OP of £22 on X day, £3 on Y day but less than going to a branch

Originally Posted by ch1ca

Can I have a MFW number pretty please?! The 2009 challenge has really helped me though as I started OPs in Jan and have almost paid off £7000!! My target was £5000 so I have smashed that!

Welcome, you are no. 40 Brilliant work in 2009!!

[Kerry Woman]

Hi

Can I please join? My aim is to overpay £1,500 this year. It will just a one off payment, as I plan to put money aside each month. As I am temping cannot really make big overpayments each month. My current temp job ends just before Christmas.

[ajmoney]

Can I jump in ready for next year please? Can I be put down for £1200 in overpayments please? Thank you very much.

[Ayeshalush]

I'd also like to join please. My target will be £5000 in overpayments. This is probably going to be a struggle but it wouldn't be a challenge if I made it too easy now would it!

I 'm also a member of MFIT-T2 (but not worried about getting the same no.!) and have challenged myself to pay off my £33k mortgage in 3 years. To be honest I think 5 years is more realistic but, again, if I stretch myself, you never know I might just manage it!!

I'm doing various bits 'n' bobs to raise cash for overpayments but don't have a proper plan in place, so I really need to sit down and get my head in gear. Hoping to pick up some good advice and tips on this thread.

Good luck to everyone.

Thanks

Ali
x

[Lakshmi7]

Good Luck to all MF Wannabes.

I really admire your dedication.

[black taxi]

im same as you ayeshalush--MFIT-T2---put down 3 years but prob 4/5--but you need to test yourself--go where you havent been before.

[fluffiesmum]

Please can I join

Myself and my partner are due to complete on our first home in December 2009 (I am 26, partner is 32). I want to overpay now while I can afford to as once we have kids I know we may not be able to do so (our current baby is our kitten). Our mortgage is going to be with Nationwide so I am going to aim to overpay the £500 a month maximum (also thinking that if I go on maternity leave in a couple of years it will mean we can have some flexibility as I am the main income earner and we wouldn't be able to survive on my partners income as he is a salesman with a low basic wage.

Please put me down for a £6000 overpayment in 2010

Any tips on how to get other half on board more greatly appreciated (he won't be able to contribute a monthly overpayment but when he gets bonuses I would like him to use it to overpay rather than wasting on tat)

Mortgage will be 126,000

If there is anything else I have missed please ask.

[SmileyG]

Hi everybody

Well done cake21!

I hope you know what you've let yourself in for!

I've lowered my target for 2010, but that's only because I've had a successful 2009.

My target for 2010 will be £2760 (£230pm). It will enable to pay down approximately the same amount of capital as 2009, but the advantage of overpaying is clear to see. It's going to cost me £20 per month less!

However, if things go well, I wouls still expect to beat this target.

Can I have a shiny new number please?

SmileyG

[cake21]

Originally Posted by fluffiesmum

Any tips on how to get other half on board more greatly appreciated (he won't be able to contribute a monthly overpayment but when he gets bonuses I would like him to use it to overpay rather than wasting on tat)

Sorry haven't got any practical suggestions, but you're not the only one!

Originally Posted by SmileyG

Well done cake21! I hope you know what you've let yourself in for!

I'm not sure I do know, maybe it's for the best

Welcome all newbies

[VickyA]

Just want to say hello to everyone I'm number 45 DH and I are also FTBs and hope to reduce our mortgage by £5k at least in the first year. I'm also doing the MFIT-T2 challenge. Blimey. Spreadsheet-o-rama!

[julie_beth]

Hi, please can I join too please. I would like to overpay by £200 per month so please can you put me down for £2400 in 2010. Hopefully I can add more to this but want to be realistic in my first year of overpaying

Also is there any way to subscribe to this thread?

Thanks, Jules

[wantabetterlife]

Hi jules, you can subscribe by going to the top of the page and you will see "Thread tools". click on this and there is the option to subscribe- easy peasy. Goodluck with the mortgage!

WABL