2009 MF Wannabe's

rumncoke

MFW 231 checking in. Despite extra expenditure due to DS 18th & sisters wedding still manage to OP by a further £400 today making feb total £609. Interest rates obviously helping but am really pleased with this.:j. Looking forward to making the £10K OP next month once our endowment hits our bank account.

madwife28

YAY - PAYDAY!!
MFW 178 here and OP by my target of £500. Everyone's doing brilliantly, it's sooo inspiring!!
Well done to all!:beer:

Sosh

Pay day today. This month's op is £1676.22 which brings my total to just under £3400.

I've pm'd zavarony

Sosh

fluffysox

Hi all, MFW Number 104 checking in1

Well done to everyone who has saved themselves future mortgage interest this month :beer: . Thank you all for the motivating posts- I think we're very likely to reach the million pound mark by the end of the year:A .

This month I have overpaid £1038 making our total for 2009 £3066.25.

This is already more than half our target for the year. Part of this money has been rent from our friend who has been living here for a few months- all this extra money has gone on the mortgage OPs. We will probably only have a couple more rent payments though as they are in the process of buying a house. Its a repossession- sign of the times- so the purchase is supposed to go through within a month.
However continued interest rate cuts are also having a huge effect. . To put figures in mind, when we took out our mortgage in 2005, we were paying over £600 a month interest. Now it is £325 and we've only cleared one sixth of the balance. Here's hoping they stay low for a while- so we can maximise our OPs:rotfl: :rotfl: :rotfl: .
Totally addicted to MFW:rotfl: :rotfl: :rotfl:

TurnaroundSue

A-MS wrote: »

Whoop! PAYDAY! :j number 190 checking in.

I love the idea of us all paying off £1m, what inspiration! Well done everyone - keep up the good work!

We're OP ing £1741.77 this month after all the bills are sorted out which means £2800.84 for the year so far and around £9850 left to pay to clear the mortgage - EEEEEEE! The end is in sight!

OMG that is amazing - just looking at your signature you have paid loads off in the last 3 years. Can I ask how you have managed it? I am always in awe of people who can pay such large sums of their mortgages. I can only pay 5% pa and to be honest it takes me all year to do it too:eek:

Moniker

Hi folks - number 133 checking in. Made the maximum o/p at the beginning of the week and are on target thank goodness.

Got very excited because we are currently supporting DD1 doing a uni course which finishes in June and worked out that if we continued to save the money we are currently paying her then we would be able to pay off the mortgage in June 2010 instead of June 2011! It will be hard but I think we can do it as long as we are both working (fingers crossed and all that!) We are already on target to finish the mortgage 4 years early so this would make it 5 years early. DH is 60 next year - I can't think of a better birthday present!

Moniker

Floxxie

Evening all,

Reporting in for February. The term 'overpayment' isn't quite accurate for my total as it includes my normal payment. It is again a high balance as hubby closed his ISAs and let me have the contents

Month o/p £8,289k
YTD o/p £13,728k

Floxxie

TurnaroundSue

A-MS wrote: »

Aww, thanks

My husband was made redundant quite a long time ago and since then we always made sure we'd only get a mortgage on one of our wages so if it happened again there'd be no panic or we could leave a job we didn't like. Also, this is second time round as an inheritance paid off our first mortgage, and it's sickening to watch so much money going out when you've been used to having it to yourself!

We also do the usual moneysaving things (eating at home, shopping around for utilities, cheap mortgage etc) and we don't shop a lot for non-food things - oh and the biggie is we have no kids! After our 'safety net' savings were sorted, depending on the disasters that month (last month we needed a new washing machine) we pretty much have half our money to overpay, especially since the tracker has come down to about £55 a month minimum payment - at least that's one good thing about the downturn, eh?!

After it's paid off, sadly my husband has a cherished rustbucket money pit of a car sitting in the drive that he wants to fix up (this makes me :wall: :doh: :mad: haha) but after that, I'd imagine we'll be saving up again to move on to the next place and get another mortgage haha!

Yes, I took voluntarily redundancy years ago and paid off our first mortgage. However, MSE wasn't around then and the mortgage monies just fritted through our hands, so we decided to move and get a mortgage again; this time to a bigger place. We have 4 years left on this one, which would have been paid off by now hadn't we had the extension built, but I am NOT moving after again after that. The kids by then will nearly be off our hands(fingerscrossed:rotfl: :rotfl: ) and my OH will not be long off retiring - he can retire at 54! - so our plan is to save all our mortgage monies and then travel when he retires - ooooohhhhh I can't wait!

anitasmith1975

Hi Guys,

Back in Sept 2007 me and my husband were mortage free. House paid for £120,000.00 sold for £250,000.00 we lived there 7 years, and with family passing and husbands business going well we had paid off our mortage.

In 2008 November we moved to a large property Worth £350,000.00, profit of house sale ours, plus sale of a another business building left us only with having to have a mortage of £65,000.00. We have set up a deadline to be mortage free by end of march 09, so far we only have £35,000.00 to go, as my husband nan passed away last year, and thanks to her we have reduced our mortage debt. (Thanks Nan, where ever you are).

We are lucky in the fact my husband and I both have good jobs. We live within our means and don't have credit cards (hate banks its our money). We would urge any one to be mortage free, but always keep a fund/saving in your back of 10K or more if able in case of emergencies.

Will let you know if we make the March deadline to be clear.

Good lucky to you guys for wanting to be mortage free and in control of your own lives.

Bless you

jackiegibbo

another £75 standing order went off to the halifax today:D