2009 MF Wannabe's

Grumpy_Git_4

Been a lurker for a few years now as I was introduced by my parents, can I get a MFW number please?

Background: I'm 29 and bought my home 2 years ago on a 32 year (2yr fixed) mortgage of £145000, it currently stands at circa £142k. (prob more than the flats worth lol)

I live with my fiancee and we are getting married this year, her income is low so I'm shouldering the burden on the mortgage and any lump sum payments will come after the wedding.

I borrowed a larger multiple of my salary than is a good idea and I now want to reduce it as quickly as possible, initially I didnt think this was an option so here I am.
END RANT

Current plan is to up payments from £793 to £900 a month and then in the region of £6000 after the wedding in Oct, so lets up it a bit and aim to clear £8k for the year.

Nick.

RosieTiger

Hey Grumpy Git - you have made a good decision !

Nice to see another on board

cha97michelle

I am wishing away this month so i can make an overpayment on the 1/04 when our mortgage switches to a tracker at 2.5%. So far i have moved £51.65 ready, and i won a prize draw (£100) so i am waiting for the cheque for that to come so that can go in as well.

As a nice little brucey bonus, i was paid £200 when i wasn't expecting it, although i am putting that into my savings account for the time being in case they take it back from me next month.

I wish life were less expensive so i could have a better go at it. DH's car had £500 spent on it this week. And the kids start back at nursery on Monday ready for me going back to work after maternity leave, so that will be £156 a week gone.

I am trying to squeeze where i can. I have already worked out that I won't have to pay nursery for Good friday and Easter Monday, so i will be putting the £104 saved into the mortgage. The £1.65 above was i had budgeted £60 for a water sewerage bill which came in under budget so the difference went here. I think that might be the best way for me to tackle it without huge impact. We also have the elec bill reducing by £2 a month from April, so that might get chucked in too.

It's hard to try and keep a balance between everything i want to do i'm afraid. I guess we all find it hard or it wouldn't be a challenge would it.

Michelle

happilass

Hi,
mfw 226 checking in March total payments since january £2000, so keeping up with intentions for the, expensive for us, beginning of the year. Everyone is doing really well I see so good luck to us all.
Happi :T

pollys

Have overpaid £900 in March but hoping to get to the bank before the end of the month with an extra £540, saved from paying no council tax or water rates and a payment from OH sharesave. Will PM you later zavarony.

Good Luck Everybody.

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 £2740.

Cheers

SmileyG_2

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

My overpayments to date will now save me £173.97 between now and my target MFW date of September 2014.

Well done to everyone else who's managed their 2009 overpayments to date, however large or small!

SmileyG

SmileyG_2

mfwin2019 wrote: »

I would love to jin this challenge

Have just increased mortgage for major work on the house & would really like to make a start on repaying it.
Lots of added expenditure this year so I will start with a target of £1000 for this year. It may not be much but at least it is a start.

:T Welcome aboard mfwin!:T
(;) sorry about the late welcome;) )

SmileyG

SmileyG_2

jackiegibbo wrote: »

Another £75 went off to the halifax today:D ............Good luck to everyone with their challenge:T :T

jackie gibbo does it again, such discipline (it's the best way to do it!)

:T :T :T :T

SmileyG

SmileyG_2

Alion wrote: »

We decided not to buy the car we were looking at so £6,000 has gone in!!! I'm upping my challenge to £10,000

Alion, how dare you, it's only March!;)

Seriously, well done,:T you do realise that your new personal target is 1% of our overall target of £1,000,000 do't you (no pressure......)

SmileyG