2009 MF Wannabe's

Gazella77

Hi,

another £200 :j I think that takes me over £8000 overpay ytd:beer:

gratefulforhelp_2

Just a quick shout about the latest on Northern Rock NOT allowing repayment holidays or drawing back of money overpaid, even though they are flexible mortgages.

I know that to re-draw overpayments is against the MFW aims, but I thought it worth drawing people's attention to it.

Gazella77

Oh my god, that's horrible.
I am overpaying as it's more sensible than saving now and also I am thinking that I am reducing the interests early so even if I need to have payment holidays in the future (unfortunately very likely and maybe in a near future) then I am still better of. Maybe I am wrog but that's my line of thinking

gratefulforhelp_2

You're right, as long as your circumstances haven't/don't change, but most people who need to have a payment holiday will have had a change of circumstances, or they wouldn't do it...

The financial advisers in the press are saying be wary of doing this until you have a rainy day fund stashed away.

Makes sense.

abouttimetoo

cheeryoleary wrote: »

Used http://www.mylostaccount.org.uk/ and received a letter asking me to confirm my signature. One account with 4 pence, and one account with £16.56. Just waiting for the money to hit my current account.

Still on target for MF on August 14th. I could in theory move this forward a month however I'm going to start transitioning from 'throw everthing at the mortgage' to 'spend a little more on the family'. It's an odd (nice) feeling.

15 weeks to go.

Thanks for the lost account link - it's prompted me to fill it in!

Re your MF date - wow, congratulations you are doing fantastic:j

tiff

Yeah I filled it in too the other day, thanks.

cake21

No. 154 checking in for May

154. Cake21 - £7311 / £400 / £4842

Only the direct debit of £400 going in this month, but just noticed that I'm over half way there :j Well done everyone and thanks for the inspiration :T

(pm'd Zavarony)

CountingPenniesClaire

No 17 checking in for month just gone....

Yr target £22,200 /MTD £1,850 /YTD £7,360

blueberrypie

Gazella77 wrote: »

Oh my god, that's horrible.
I am overpaying as it's more sensible than saving now and also I am thinking that I am reducing the interests early so even if I need to have payment holidays in the future (unfortunately very likely and maybe in a near future) then I am still better of. Maybe I am wrog but that's my line of thinking

Some lenders report a payment holiday as missed payments - be very careful about payment holidays. It would be best to have savings to live off for a few months, even if the interest you're making on your savings is at a lower rate than your mortgage interest rate.

RosieTiger

May OP made of £1,200, giving YTD total of £14,427.

Good luck everyone, it's great to see how well your all doing - it certainly encourages the RT's on our mission !