2009 MF Wannabe's

zavarony

katie_p wrote: »

Hi,

I would like to join the MFW 2009 list if possible. In 2008 I overpaid £3600 in the final 7 months of the year having switched to a BOE+0.38% tracker mortgage with HSBC allowing unlimited overpayments (one of the few good financial decisions I've made!).

In 2009 I would like to overpay £6000 (£500/month).

Thanks and good luck to everyone taking part.

Katie

Hi Katie,

I have added you to the first post, welcome to our thread and GOOD LUCK

Zav:j

Gazella77

Hi,

I have done my first o/p this year £450!:j

Unfortunately I didn't have any replies when it comes to C&G overpayment rules and really didn't know what to do. I emptied my 3.5% ISA (over £3000)and wanted to pay into my mortgage at the end of December but was told it'd be treated as a capital repayment. The staff at C&G have no idea how much I can overpay to avoid £10 charge and all this really annoys me.
I could withdraw only £450 today so that's what I paid in.
But should I pay in more this month or wait till Feb? No idea:mad:

Lynn11

No 215 reporting in to say that I made my 1st overpayment for 2009 for £450. I will PM Zaronry at the end of the month with the final figure in case I am able to ovepay anymore.

MrBlackCat_2

Happy new year folks. I'll be making my 1st overpayment at the end of January, once I know what our surplus is for the month.

Got a few annoying things to spend money on this year unfortunately that have risen their ugly heads recently (such as a new boiler, a new garage door etc.) but hopefully the recent cuts in interest rates should help keep us stay close to target for the year despite this.

We're on a Nationwide tracker that is affected by their recent announcement that no more rates cuts will be passed on (grrrr), so our mortgage is now as cheap as it's going to get.

Anyhow best of luck everyone, hope you all manage to achieve what you set out to this year!

Lister_2

MFW 160 reporting in

Still in "setup" mode unfortunately as we wait for our current mortgage to expire, so no O/P's yet. However, have just applied for 5 year fix which all going well should be in place 29/02/09. This will allow me to overpay by about £200.:j

Still paying off £4.5k car loan and various credit card bills at the mo, so can't do much more than that this year I think. However, want to give myself at least a bit of a challenge, so I will set my target this year at £2,500 in mortgage overpayments.

Good luck to everyone else! :beer:

sky-blue_pink

Yes - reading these posts has made me do it.

I've just increased my OP with Nationwide from £150 to £185 per month. I know it doesn't seem much but it takes my mortgage from 10 years (or 20 if NO overpayments!) to a much nicer figure of 8 years.

Stuck with a fixed rate (although no fees) so feel I have to make up for it somehow.

Anyone else on a fixed rate? I'm not going to do the maths to see what I could be saving - argghhh. I'll just keep chugging away at the OP.

[Deleted User]

Hi everyone… I’d like to join you in this adventure. I loved RosieTigers idea for a mass overpayment day.

So…the grim stats are: aiming to overpay £3180 in 2009, minimum of £200/month (numbers don’t add up, but the overtime comes along from time to time in chunks, so I’m hoping it will work out). All so I can be Mortgage free by 40…which is 11 years away. I’d love to be in a bigger house by then too!

This year to date… 0. Just starting J

zavarony

Deleted_User wrote: »

Hi everyone… I’d like to join you in this adventure. I loved RosieTigers idea for a mass overpayment day.

So…the grim stats are: aiming to overpay £3180 in 2009, minimum of £200/month (numbers don’t add up, but the overtime comes along from time to time in chunks, so I’m hoping it will work out). All so I can be Mortgage free by 40…which is 11 years away. I’d love to be in a bigger house by then too!

This year to date… 0. Just starting J

Hi there and welcome to the 2009 MFW thread, I have added you to the first post so you have a shiney new number. GOOD LUCK. DOnt forget to PM me each month with your OP.
Zav:rotfl:

SmileyG_2

sky-blue_pink wrote: »

Yes - reading these posts has made me do it.

I've just increased my OP with Nationwide from £150 to £185 per month. I know it doesn't seem much but it takes my mortgage from 10 years (or 20 if NO overpayments!) to a much nicer figure of 8 years.

Stuck with a fixed rate (although no fees) so feel I have to make up for it somehow.

Anyone else on a fixed rate? I'm not going to do the maths to see what I could be saving - argghhh. I'll just keep chugging away at the OP.

Hiya sky-blue pink.

I,too, am a member of the Nationwide fixed rate club (5.18%, 2yrs 7mths to go...).

My overall mortgage has 5 years 7 months to go, and I have set up an overpayment of £250pm (First payment due 15th Jan and my first overpayment since 2001) I worked out that making this overpayment for 12 months would save me over £700 in interest over the remaining period of the mortgage. :j

Not to be sniffed at!

Stick at it!

SmileyG

ShelleyC_2

Amazing start for me!

Got lovely bonus at work, my planned monthly savers plus some leftovers in the current account making a princely total into savings. My future LTV ratio is dropping fast.

188 ShelleyC - £7000 / £7000 / £7000

Think I need to change my yearly total :rotfl:
Will PM you Zav!