2009 MF Wannabe's

LouiseJ

June overpayments have now been made of £657.......on target for me:D

Keep going everyone, you are all doing so well:T

fluffysox

zavarony wrote: »

Hi all,

I have now moved house - woo hoo, still dont have the web at home but should be on soon, been on holiday, handed in all my assignments for Uni and am in the middle of preparing for my exams in a fortnight, once they've been and gone I have no excuses for letting MFW 2009 slip!

Zav
xx

Good luck in your exams!
We're all looking forward to having you back on MFW 2009 when you've got time:T:T

SmileyG_2

MFW #203 checking in!
My June overpayment has left my account, another £250!

Numbers are:

Target £3000
April overpayment £250
Overpayment to date £1500

This means an predicted interest saving of £336.07 since Jan 2009 until my MF date of September 2014, My £250 pm overpayment is more than covering the mortgage interest (£247.03), which means the overpayment is just starting to reduce the capital too!

However, further bad news on the endowment front. This time last year, Legal and General gave me a projection of £39,200 on maturity in August 2014. This is now £30,600.

£30,600! From an original target of £49,000!

What does this mean? It means that I am looking at a shortfall of -£400, even with my existing overpayments. Unless the market recovers substantially between now and Sept 2014, the chances are that this shortfall will increase as it gives me no contingency for an increase in interest rates (which is more than likely in the next 5 years or so). So overpayments look more than likely for the foreseeable future.

The only good news was that the Nissan Micra became a teenager this month (13 years old!) and unlike most teenagers, it didn’t cost me an arm and a leg like last year (servicing plus MOT; £162.37). So at least the June overpayment is achieved with a bit of cash to spare.

Once again I've sped through the thread and it's amazing that everybody is staying focused. £500,000 by the end of June looks achievable to me.

Looking to start a diary at the end of August, just to stay focused on the final objective. September 2009 will be 5 years to Mortgage Freedom

Thanks to Zav, hope the house move is going well.

Keep the faith and prepare for success!!!

SmileyG

llydaw

no.120 reporting in.
£201 for me this month. Had to pay for garden work so not what I was hoping but it all counts. Not sure if I'll make my target by December but there's still 6 months to go.
Well done on all your overpayments. Keep up the good work.

zavarony

deefadog wrote: »

Thanks for the info. I used to keep a very tight reign on things, but as i have moved jobs and have more income, i have kinda left things slip the last year So it's time i got back on.

Mortgage - 98k (house worth 220k) - Over paying around £120 per month
Credit cards all paid off
2 x 0% car loans
I have around £500 disposable each month, but i will soon have second baby and wife will be on half pay for the majority of the end of this year/beginning of next year.

Also Next January I will have around £500 (worst case scenario) extra on our overseas properties if we can't rent them out or sell them. We have around 45k invested in 2 properties, which was great at the time, but as the the economy has nose dived (Typical) does not look like a huge profit as expected, which would have left us with 30k left on Mortgage!

Well that's our mad plan, i'll maybe start my own thread like so many have.

Let me know if you want to join in the challenge and I will add you to the list
xx

zavarony

ocemeer wrote: »

Could I please Join in. Aim is to make a capital overpayment of 10% ( I think £8400) and overpay monthly by £250. Would like to be mortgage free by Apr 2014.

Totals so far Capital overpayment £8000/Monthly 4 x £250
Any ideas of what else I can do - fixed term ends 09/2010 so stuck on the deal I have at the moment.

Hi - you are added -please could you add your number to your sig somewhere please
GOOD LUCK with the OP's
ZAV
x:j

zavarony

pipo wrote: »

p.s. we're due to complete at the end of the month!

Just give us a shout when your ready to join the club;);););)

zavarony

RosieTiger wrote: »

zav,

is it possible to have a link near the start of the thread to the running total figure ??
Sorry to be cheeky and not sure how much work this would give you to set up - I am presuming that it would then be easier to notify at month on how much the combined total is ??

Thanks for your efforts on our behalf, we all appear to be keeping you very busy indeed !

HELP ME OUT ROSIE - PLEASE!!!!
I would love to do that, it would make it so much simpler to update each time .......I just dont know how!!!!! any ideas??????:D:rolleyes::D:rolleyes:

zavarony

Well,

I have sorted out the MAY OP's (eventually!!!) and the ab fab news is that they are as follows

TOTAL OP'D YTD - £78588 / £535,232

How great is that :j :j :j :j

Herewegoagain

I work 24/7 which helps me not to spend usually and now the cost :eek:of my son's wedding is over, which went really well:beer::T (it was really hard to make June's OP, but at least I lost weight :T:T:rotfl::rotfl:) I am back on track but really broke:eek::eek:

As long as OP's stay on track I'm happy.

Don't know how to work out the % doh, but if the interrest rate stays the same,(unlightly) and I can continue to OP at the same rate then the mortgage should be gone by dec 2014ish:j:j but I wont count my chickens just yet, but a light at the end of the tunnel:cool::cool:

HWGA xx