2009 MF Wannabe's

AuntieH

Hi
Latest morgage statement in, 104K GULP!

Chunters_a_lot

Sorry, have not had a chance to catch to catch up with the thread properly but a big :j :j :j for all the overpayments made by everyone.

My second £100 op has now gone out - I've updated my signature:j

SmileyG_2

My February overpayment has left my account, another £250!

My overpayments to date will now save me £91.26 between now and my target MFW date of September 2014.

Well done to everyone else who's managed their 2009 overpayments to date!

SmileyG

vwchris

Hi there, #222 checking in....

Aim is to reduce mortgage to £148,000.
Total capital repayment required in 2009 is £10,340.
This months capital repayment is £900.
Total capital repayment for 2009 is £1840.

Cheers

Emsky123

Hi Zavarony, I have been following the threads with great interest for a few months, finally done it, Today i set up the standing order to make overpayments, Cant belive how excited i was. I plan to overpay around £200 per month as a start.

Thanks to everyone here, you are all fantastic:A

glitterball

Zav I am declaring all in for Februay at £410.48. Which is on target so far, just can't wait to get onto my SVR in August here's hoping the intrest rate stays down for a little while.

cake21

Emsky123 wrote: »

Hi Zavarony, I have been following the threads with great interest for a few months, finally done it, Today i set up the standing order to make overpayments, Cant belive how excited i was. I plan to overpay around £200 per month as a start.

Thanks to everyone here, you are all fantastic:A

Welcome! (and prepare to get addicted )

phizzimum

oh dear...what a week!

we've bought a new (to us) car and set a date to completely refit the bathroom (long overdue). I know that real life has to continue even for MFW's but it just feels like a step in the wrong direction.

we can afford to pay for both from savings, but looks like some of mortgage overpayments will be diverted to build up the savings account again

the new car is smaller - so we'll save on petrol, road fund tax and insurance in the long run.

on a good note - DD was rummaging around in my room and found a £20 note that I'd squirreled away (and lost!) It will pay for our half term trips out. DH was very impressed that she gave the money to me - he said he would have pocketed it if he'd found £20 in his mum's room!

2latenow

RosieTiger wrote: »

We have the same letter, but not sure i am following your numbers here - doesn't twice your normal payment mean you can pay £1666 as an overpayment each month which is well above your £999 ??
We are already have an OP which is far higher than the expected payment and have had no issues - I would just keep banging the money in by standing order until they say you can't !
Our letter also does not show the additional OP's being held in a sub account, if I phone C and G and request a balance they give me the absolute balance which certainly reflects the OP's.
Should they wish to hold it in a sub account which allows me to go back and take a payment holiday they can do. I have no intention of doing so, it may at some point be of use - but essentially it makes no difference.

Just keep going until they say stop !

Or it could mean you can pay 2x the monthly payment -- where 1x is taken to pay the interest charge (ie normal) and then 2nd 1x is the overpayment.

So if your monthly is 800, you can pay 1600 of which 800 is interest, 800 is overpayment.

Looking at my statement, my overpayments are held on the sub account I ask them to put it on (I have 2 rates, so always want it on the higher sub). If you have multiple sub accounts you want to make sure it doesn't go on a low balance sub as I doubt they'd give you interest if a sub account went in credit (more overpayment than debt).

After some differing experience of how C&G handle overpayments, I always call their call centre now to make my overpayments - so I can check with the operator and make sure they do the right sub account, dont reduce my DD or charge me £10 etc,..

It was really satisfying (in a sad MFW way that you will all understand) to check through our annual mortgage statement and see in black-and-white that our balance is over 7000 less than a year ago.

gallygirl

We are with C&G also - and pay extra each month. Read the literature yesterday - overpayments are applied on the 1st of the following month - so I OP on the 1st with the regular payment and they get the interest for the month before it is applied on the 1st of the following month:eek:. Oh well, at least the interest they are getting is at a crap rate :rotfl: