2009 MF Wannabe's

jackiegibbo

Another £100 went off to the halifax today but unfortunately we have quite a few bills coming in so i will only be paying off a £1 a week for the rest of the summer.Good luck to everyone :beer::beer:

Herewegoagain

jackiegibbo wrote: »

Another £100 went off to the halifax today but unfortunately we have quite a few bills coming in so i will only be paying off a £1 a week for the rest of the summer.Good luck to everyone :beer::beer:

Every little helps so just do what you can.:D

I've always paid off extra, but that extra amount goes up and down according to my cercumstances:cool: so just keep up the good work hon:T

The same goes for everyone:T even if it's a few pence, the mortgage WILL come down:j loads of luck everyone:A

HWGA xx

Louba

Woo a little progress! Overpayment for July: £1128. I've also set up a monthly overpayment of £1128 - this is my monthly maximum and opened a new savings account to pay in any surplus for a capital repayment when my mortgage comes to the end of it's term. Really glad to get this done as everytime I've phoned Lloyds before my account has been locked becuase a payment has been pending and they haven't been able to set up the OP. I changed my payment date from the 28th to the 1st of the month which meant my account was locked for two weeks, frustrationg but sorted now!

belfastgirl23

Well I got my letter from the Nationwide today with info re the end of my fixed rate. I've dropped to their 2.5% BMR rate and my repayment is now....£1169 which is quite a bit under the £1498 I was paying at 5.47%! Can't wait to make my OP this month

elantan

no 4 checking in ...i know i havnt been on long but have been regularly overpaying have went from £500 to £1500 now so £500 left to go this year ...yay

Floxxie

Just popping on to provide an update. Have achieved my target and have now set a new one of reducing the mortgage to £50k by the end of 2009. Am just planning what I can sell and do to raise the funds.

Mortgage Jan 2009 £88.6k
Mortgage July 2009 £57.7k
Paid off in 2009 £30.9k

Well done on all the overpayments..every little bit really does help. I put found pennies onto my mortgage and over the last 3 years that has been an extra £5.
Floxxie

Welshlassie

Floxxie wrote: »

Just popping on to provide an update. Have achieved my target and have now set a new one of reducing the mortgage to £50k by the end of 2009. Am just planning what I can sell and do to raise the funds.



Well done on all the overpayments..every little bit really does help. I put found pennies onto my mortgage and over the last 3 years that has been an extra £5.
Floxxie

Wow Floxxie that really is so impressive. I can't believe you've manage to pay off £30k+ this year and its only July.
We really need to up our game and I think you telling us this has given me the kick I needed.
Thanks

Floxxie

Welshlassie wrote: »

Wow Floxxie that really is so impressive. I can't believe you've manage to pay off £30k+ this year and its only July.
We really need to up our game and I think you telling us this has given me the kick I needed.
Thanks

I can't either and have had to double check the figures several times!The reduction does includes regular payments and with the interest rates being so low, that has also had an impact. Must get on with eBaying and can't wait for the footie to start again so I can earn some of the MBing front.

sheslookinhot

I was having a think about what my mortgage would be if I left it run until normal completion date without overpayments. The result have made me start to think about my overpayments. Currently paying £750 to clear in 1 year


Mortgage amount -£8550
Years left on mortgage 5
Annual Interest rate 2.44%


Interest-only £17.39 Reypayment £155.5



I know it is the right to keep overpayments and be mortgage free by this time next year. However, I am just about to buy a new kitchen, on 0% credit card and the monthly payments will be high. I have budgeted 10K, 3k from savings and 7k from the card.

I am currently overpaying £600 (i had thought it was £565)

Any thoughts would be welcome

Floxxie

sheslookinhot wrote: »

I was having a think about what my mortgage would be if I left it run until normal completion date without overpayments. The result have made me start to think about my overpayments. Currently paying £750 to clear in 1 year


Mortgage amount -£8550
Years left on mortgage 5
Annual Interest rate 2.44%


Interest-only £17.39 Reypayment £155.5



I know it is the right to keep overpayments and be mortgage free by this time next year. However, I am just about to buy a new kitchen, on 0% credit card and the monthly payments will be high. I have budgeted 10K, 3k from savings and 7k from the card.

I am currently overpaying £600 (i had thought it was £565)

Any thoughts would be welcome

You don't fancy paying off the mortgage before getting a new kitchen?