2011 mfw

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  • MrsEm wrote: »
    Really overdue updating OPs!

    MFW 170. Bonkers 2011 target £6000 / £466 in Oct but I haven't posted for quite a few months! / YTD OP £3806

    Will have to reassess new target for 2012 as this year's was a bit too ambitious...BUT our 1yr house-aversary was yesterday & our balance is now what is should be with 0 OP's by end of Yr2 - I'm proud of that!

    Happy OP'ing everyone!

    There is no such thing as being too ambitious. You have overpaid by £3806 in the first year in a new home! That is great work considering the claims there must have been on your cash during that time. Get that mortgage calculator out and see the multiples over the term your overpayment achievements will have brought you. Good work Mrs Em.:T
    Completely Debt Free 2009:j

    Completely Mortgage Free 2013:j
  • fluffysox wrote: »
    This depends on how your mortgage is set up, OPs may reduce monthly payments or remaining term. You can use a mortgage calculator to see how much OPs should reduce your mortgage term.
    http://www.moneysavingexpert.com/mortgages/mortgage-rate-calculator
    ;)

    Thank you! Although, I did almost have a heart attack at how much interest has been saved by OPing £2250 over the last 2 years! Definatley got my inspiration back! :j
    2022 Target - Reduce new mortgage balance after house move - Part 1 (Ported) Starting balance £39,982.12 currently £37,242.19 Part 2 Starting Balance £101,997.88 currently £96,197.38 (as at 19/04/2022)
  • Barny1979
    Barny1979 Posts: 7,921
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    £50 paid off today :)
  • MFW No.177 - 10th OP of the year today. £700 paid taking me to 98% of target although I haven't had any updates registered since August. :-( Where is the holy grail of spread sheet updaters gone??!!
  • Hello - 180 reporting in £3,000 for me this month :j
  • Just made an OP of £204.10 bringing the total to £560.10. I didn't think we would make our target at all this year, it's not what we originally planned, but its better than nothing I suppose.
    2022 Target - Reduce new mortgage balance after house move - Part 1 (Ported) Starting balance £39,982.12 currently £37,242.19 Part 2 Starting Balance £101,997.88 currently £96,197.38 (as at 19/04/2022)
  • Spiggle
    Spiggle Posts: 1,787
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    Hi All,

    No.40 very late with my October update. :o

    Ok, so after last months disaster with the offset OPs I managed to up the payment this month and will do next month and December hopefully, which will bring the reg saver (into which the offset is going) back up to the max amount I can save.

    I've updated the googledoc for October with a combination of OP and offset amount of £898. Ooops, just realised I've put the wrong amount on the docs and will go back to change it.

    I had my annual statement at the beginning of the month which caused quite a bit of confusion for me with my spreadsheet. I had too many calculations in it and was driving myself potty! :eek: So, I've done myself a new one that will run concurrently with my mortgage year and hopefully my head won't get in a spin with that. It should also still let me do a calendar year challenge again in 2012 too.

    Well that's about it from me. Thanks again to the wonderful Cake! :A

    All the best,
    Spigs
    Mortgage Free October 2013 :T
  • No 114 here. Just paid 2000 off! Balance now at 282,175.

    I'm now paying £30 a month less in interest than I was when I took
    out the mortgage in April - overpaying really works!:)
    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:
  • I've also just discovered that my mortgage balance is where it's supposed to be after 2 years of payments, and I've only had the mortgage for 6 months! :jVery pleased with that!
    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:
  • blizeH
    blizeH Posts: 1,361
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    That must be an awesome feeling to be so far ahead after a short time! :D

    Just checking in to try and get motivated, had a very financially reckless few months which I still haven't properly recovered from, and haven't made an overpayment for months as a result. My initial target was very overly ambitious, but somehow I managed to stay in track... now I'd say there is basically zero chance that I'll meet it. ;_;
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