2009 MF Wannabe's

uzubairu

I made another overpayment today of £350, which takes my total for December to £850.

This will probably be my last overpayment for this year.

I originally set a target to get my mortgage to £88,000 by the end of the year, but thanks to a renewed interest with all things moneysaving, I reached that target earlier on in the year and I reduced it to £84,000.

Since I am on a fixed rate product with the Nationwide, they apply a £500 limit to overpayments (although I have paid more throughout the year with no charges), but they give you the option of reducing the term whenever you want free of charge.
I have reduced the term twice this year.

Here are the totals for 2009

Opening Balance: £97,343.47
Opening Monthly Payment: £765.79
Closing Monthly Payment: £937.16
Closing Balance (09/12/09): £81,488.36

Overpayments (Standard): £9,054.17
Overpayments (Due to term reduction): £1,655.82

Total Overpayments: £10,709.99 :j:j:j

Many thanks to zavarony for doing the admin for this challenge and roll on 2010!

Lynn11

No 215 reporting in to advise that I made the December overpayment today of £265 which gives me a grand total of £4135 for 2009 - I am very chuffed with this as I beat my original target even though it was reduced. Hopefully I can continue with making over £4000 overpayments - time will tell. Thanks for all the support given.

talana

MFW no.212 here again.
I've got a little bit behind on reporting my overpayments recently.
But to end the year on a high, I have another £1400 to report over and above what I stated before. Which means....... I hit my target!!

£6000 target for 2009
Total overpayments now £6550! :j:j

Now for continuing the good work in 2010 :rolleyes:
Well done all who achieved what they set out to this year.

jacqhale

MFW 312 checking in for December.

Final overpayment of £200 just made which makes total this year £13,100 - £100 over target (every little helps:rotfl:)

Have already signed up for 2010 challenge and hope to be able to make some good progress again next year but what with one thing and another it may prove quite challenging. Fingers crossed for interest rates to stay low!

Good luck for 2010 everyone:T

NoobySaver

Number 254 reporting in. Made a £553 overpayment this month bringing our total to £12,000 for the year off an original target of £9,000. Feeling very happy with the result but slightly worried for next year as I can't see us do anywhere near as much. With interest rates looking like they will stay low in 2010 this would really annoy me so I need to come up with a plan quick!

Many thanks to Zav for holding this thread together all year and for everyone who posted. Each and every one of you has made sure it kept me motivated to reach my targer and eventually exceed it. One day I really will be mortgage free (unless the wife wants to move!).

Thanks all and hopefully see you in 2010,

NoobySaver.

Overthetop

Final Totals for 2009
Repaid £4000
But missed my target of 6K by 2K

Many thanks to Zav for all the hard work put into this during 2009

Happy Holidays to one and All

OTT x

Sunny_Donny

Hi
No 114 reporting in
£250 target for 2009
£361 overpaid

going over to the 2010 board to increase the amount

Thanks

bumpybecky

no 184 checking in

I've been very quiet on this thread, I don't read or post much, but I get the daily update email and it works as a bit of a nag! anyway, it works for me...

I've just made our last overpayment of the year and have reached our target! we're down to £80k owing

now trying to work out a target for next year!

thanks for running the thread, it's really helped

ajmoney

I have made my 2nd target of £1000. I need to focus for next year now.

llydaw

No 120 reporting in for the final time
Final o/p for December is £801. Didn't quite make our target of £6k but £4951 isn't bad. I've signed up to the MFi3 T2 and am hoping to reduce the mortgage to around £85k by the end of the challenge. It's currently £103,921. Unfortunatey our tracker which is currently 0.59%:D ends on the 21st Feb and we still can't decide which product to go for. Other half wants to stay with the variable for a period of time while he's testing the market :rolleyes:. He's not really into the whole money saving idea either so I'll be squirelling away on my lonesome, especially as the standard morgage payment will be going back up.

Good luck to you all on your overpayment journeys'.

Huge thank you to Zavaronny for all your hard work over the past year, updating us all.