2009 MF Wannabe's

MattyNeth

Number 201 here - I have been massively overpaying and combined with throwing most of my savings into my mortgage (no point in getting virtually nothing in a savings account) I'm well on target for this year.:D

Start of 2009: £110,000
2009 Target: Reduce mortgage to £100,000
Current mortgage outstanding: £105,543

jexysbird

MFW 144 is now finally back - thanks to Smiley G!

When I first posted on the 2008 MF thread, end of August 2008 we had a mortgage of £75,420.93, since then we have been paying it off as much as possible over the last few months.

2009 started at £66,401.98and is now down to £63,700.00
Which means in 6 months we have paid off £11720.93!!:j

We do have £20K sitting in the savings which is offset against the mortgage, so realistically we have a mortgage of £43,700, but we don't want to touch the 20K. just in case we should need it.

So, totals for this month
Reduce mortgage as much as possible!! hopefully by 20k this year
Payments for Feb so far - £1826.78
Year to Date from Jan 01/01/09 to 22/2/09 £3001.04

Looking forward to seeing how everyone else gets on!!

MFdream

Welcome back Jexysbird

and welldone for the OP in 2008.
Good luck with your plan for 2009.....:o

pollys

Good Evening Everyone.

Pollys reporting in with a £900 overpayment for February. So that is a total of £1750 for year so far.

Good Luck Everyone.

Pollys

MFdream

Hello this is No 275 reporting!!
I just made 1000 overpayment for february. so far OP are less than the target, but after a few months or so I should be ale to catch up.

cocobean12

Hi! I hope you dont mind me posting a quick comment on here, I'm new to the site and came across this thread, I just wanted to say how fantastic everyone is doing on their MFW mission! I know how hard it can be, and its more difficult than ever with rising costs of living etc. I became MF about 6 years ago through hard work and penny pinching at every opportunity, so I know its hard but acheivable! I dont know any of you, but I wish you all well and once your final letter from the mortgage company comes through saying your Mortgage has been paid off - I guarentee there is no better feeling! Good luck guys!

zavarony

JayZed wrote: »

I've been paying off £500/month (maximum allowed) since May, and will continue to do so for the first five months of this year. Then I drop onto the lender's SVR, so will increase overpayments to at least £600/month, hopefully more.

So, OP target for this year is at least £6,700. To date it's £1,000. Mortgage balance was £192,700 at the start of the year; should be no higher than £180,400 at the end of the year.

Hi Jay - I've added you to the first post - well done for the progress so far and Good Luck for the rest of the 2009 challenge
Zav:j

phizzimum

thanks cocobean - that's just the thing we need to hear!

zebedy

Hi, I'm no. 84 on the list and have just made my Feb overpayment of £400.00 bringin my total this year to £700.00.

I've PMd Zavarony

keep up the good work everyone, we seem to all be doing really well!

zavarony

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 Emsky - I have added you to the first post - GOOD LUCK and a big welcome from us all. Dont forget to include your number in your PM each month when you update with your totals.

Zav:rotfl: