2009 MF Wannabe's

gettingbetter

:hello: my mortgage was £30,000
I have £26,784 left to pay, I was
gutted to find out i only pay £282 p/a
against the capital. I overpay every month
not by a lot.

Due to passing of my mil we will be
paying of the mortgage probs
July time

My question is do i keep over paying

kas xx

blueberrypie

gettingbetter wrote: »

:hello: my mortgage was £30,000
I have £26,784 left to pay, I was
gutted to find out i only pay £282 p/a
against the capital. I overpay every month
not by a lot.

Due to passing of my mil we will be
paying of the mortgage probs
July time

My question is do i keep over paying

You'll still benefit from the reduced interest if you do, even if you pay it off completely in July. So unless you can do something else with the money that's more beneficial (either makes you more interest, or pays for a weekend away that you all need after a stressful time or whatever), then yes, you might as well continue to overpay.

belfastgirl23

Finally I can add something to this thread just got paid today and made my new regular monthly payment of £305. Our gas direct debit went down by £25 so decided to add this in to the regular OP. I might even manage to put in a little bit extra next month but no guarantee yet, I can't seem to stop spending money and we are going to have to buy a new car soon. Well new to us anyway This should be me well on my way to my yearly OP goal of £3000

Good luck everyone, you're all doing really well!

Numenor

First month's overpayment result is in. Overpaid by £200 in January, toward my £3,000 target for the year.

As of 31 December, my outstanding balance was £81,495. Must sign up to internet banking and keep this updated in my sig.

phizzimum

just been looking at our target list on the first page - it's looking so pretty now with all those red and blue numbers springing up.
whether your overpayments have been big or small - well done us!:j

MrBlackCat_2

Hello all. #199 reporting an end of January overpayment of £500! Hopefully the first of many.

Was a good month, mainly due to the current low interest rates! Actually had a surplus of over £600 but £500 is the max OP for us each month.

Will send a PM to zavarony.

tootallulah

For me it is a very up and down payment time due to the potential large increase of my mortgage to pay for leasehold flat repairs. I am saving like mad just in case I do get a big bill so this month I am paying off £50.00 just to feel that I have paid off something! Many congratulations to all for the great start to the year.

cake21

Well done everyone who's managed to OP this month :beer:

No. 154 checking in:
total January OP £2,660
total 2009 OP £2,660

Looks like a lot compared to my £6,000 target but this includes my bonus for 2008, and we haven't had payrises so it will still be a challenge!

(I've PM'd Zavarony )

MFdream

Hi Zav,

It's No 275 reporting progress for the month of Jan.
I have made OP 1,000 on 31 Jan, just in time to make sure i have overpaid for this month. :rolleyes:

welldone everyone who made op for this month.

tootallulah

OOOOOOOOOh excitement of excitement I am in credit with BT and they have just sent me a cheque for £126.60. That's straight off the mortgage. New total for January is £176.60 I'll send Zav a p.m.