2009 MF Wannabe's

CraftyDeb

Thanks so much Zav - raring to go now

happilass

Hi,
have taken the plunge after many years of lurking! Morgage £21,600 and 2years 9 months to go. We want to pay off 50% by the end of 2009, at least. So that's £10,800 this coming year. This thread has transformed our lives/finances and we are looking forward to joining the roll of honour asap.
Good Luck to us all,
Happi

EssexHebridean

Don;t forget to get yourself diaries sorted out on the board too so you can share your progress. Welcome aboard to all new MFW'ers -p Merry Christmas and a Happy OP'ing 2009!

zavarony

RosieTiger wrote: »

Hi,

I would like to take up the challenge of becoming Mortgage free with you.

Yet another person who has lurked on the forum but now coming out of the closet and declaring intenetions !

We have sorted all of the usual culprits already, not aiming to starve ourselves but we are fortunate to have good levels of disposable income.

Mortage now £146,000 with 18 years to go.
Small overpayments through 2008 - December onwards we will hit £1000 of overpayment.

Calculator says 6 yrs 7 months - we want to do it in 5 max !

Wish us luck !

:rotfl:

Hi Rosie, is £1000 OP a month your target - ie £12k for 2009? let me know and i will add your target to the first post
Zav

jackiegibbo

Hi ZAVARONY can i please change my challenge for 2009 to £75 per week

im no 217 on your list

thriftyscotslass

Hi Zavarony

I would love to join in with this thread - please could you put me down for £2000 overpayment for 2009.

Many thanks,
Thrifty

Numenor

I'd like to overpay £3,000 on my mortgage in 2009. Current balance in the region of £82,000 with 22.5 years to go.

SHOULDI

Hi Zavarony,

I am new to Money Saving and love the idea of the moral support this thread will give us.

Can we join in ? We currently overpay by £308 per month but with the oh getting a nice pay increase and thinking of starting a family in the next few years, we've realised that with one wage, even for a short while, it would be near impossible with our current mortgage outgoings.

We are in the process of re-mortgaging and are aiming to put an overpayment of £1250 in our mortgage every month, so £15,000 in 2009! Plus the Interest and Capital Repayment amount of £1200 each month. Therefore a total payment of £2450. Ouch!

This means we will be living on the smaller of our two incomes. This would reduce our mortgage to £200,000 by the end of 2009. I know, what was I thinking taking out such a big mortgage, but we have our 4 bed with a garage which we've always wanted!

Now the hard work begins of paying off the debt! I will post my exact details to Zavarony.

In short to reduce mortgage by £15,000 in 2009!

Good luck everyone. . . and wish us luck!

rumncoke

Hi, I have been a lurker on these boards for a while now, but thought it was about time I started posting.

Can I please join the MF Wannabee thread.

Current situation. 18 months ago we were MF then decided to move in March. Found perfect house & in fortunate position that we could move without selling first so took out Mortgage for £225,000 LTV 95%. Sold our old house in 3 weeks for £160,000 which would have left us with approx mortgage of £70,000 after expenses etc. Then it fell through at last minute so we now have 2 houses. Old 1 is being rented thankfully to nice couple who are looking for long term let.

Original target was MF in 6-7 years. We are now hoping to make this about 5.

Mortgage outstanding 220,000 having overpaid £1300 in last 2 months. Should be able to pay lump sum of £10,000 in March due to payout of an old endowment.

Intention for 2009 to overpay £350 a month, plus the lump sum. Hopefully by doing this by end of year 5 value of old house should then pay off rest of mortgage.

Sorry for long winded post.

RosieTiger

EssexHebridean wrote: »

Don;t forget to get yourself diaries sorted out on the board too so you can share your progress. Welcome aboard to all new MFW'ers -p Merry Christmas and a Happy OP'ing 2009!

How do i go about this ??