My story - determined

Ed_Zep

Very impressed with your maturity at only 20. Well done to you both.

If you're after motivation I like using:

http://www.jeacle.ie/mortgage/uk/

I like how it shows how quickly overpayments do the trick and it breaks it down by month.

Ed.

determined1_2

Hi all

Thank you so much for your kind words.

Some of you may be wondering if I can overpay as much as I can. Don't worry, I double checked.

Halifax have this rule (very complicated I feel) that means you can overpay by 10% on a rolling period. Bit off a wooly description so I'll trill and explain a bit more.

[STRIKE]
So, say you take todays date, take off 12 months (365 or 366 days), multipy that outstandng capital balance by 10%, and between that point (12 months ago) and today, you can overpay by that much.

This is another function I have built into my spreadsheet so I can find out if I'm going to hit an OP penalty. Not sure how the norm are expected to know their balance 12 months ago on a continuing rolling basis, but hey
[/STRIKE] EDIT: I was misinformed and this isn't quite correct. I would explain but it is far too complicated :rolleyes:

I can also reduce the term to up my 'normal' payment if I think I'm going to come anywhere near the OP penalty. This will definatley have to be done in a couple of years I think.

Time to get a signiture drawn up I think. (EDIT: now done)

Let me know if you think it's rubbish, too complicated, or simply boring

thanks

setmefree2

It's a good signature:D

MoneyQueen

determined1 wrote: »

Hi all

I can also reduce the term to up my 'normal' payment if I think I'm going to come anywhere near the OP penalty. This will definatley have to be done in a couple of years I think.

thanks

Hi determined1,

I would suggest your terms and conditions before doing this as I have been charged £10 to make a change to my mortgage term by Halifax once... Though T&Cs may have changed now.... ofcourse if it makes a bigger difference then I guess it makes sense to part with £10 :money:

determined1_2

MoneyQueen wrote: »

Hi determined1,

I would suggest your terms and conditions before doing this as I have been charged £10 to make a change to my mortgage term by Halifax once... Though T&Cs may have changed now.... ofcourse if it makes a bigger difference then I guess it makes sense to part with £10 :money:

Hi MoneyQueen

Thanks for pointing that out:beer: I think your right but I'm not certain. However, as you say, if it makes a bigger difference, then its OK.

I'm not too worried about this now, as the terms could change again anyway.

Thanks

pebblespop

your matched betting profit is fantastic! can i ask how much your float was at the begining?

i have just started but finding it difficult to get going properly as my money keeps getting tied up with bookies so i can't do them quickly enough.

good luck with the mortgage overpayments!

determined1_2

pebblespop wrote: »

your matched betting profit is fantastic! can i ask how much your float was at the begining?

i have just started but finding it difficult to get going properly as my money keeps getting tied up with bookies so i can't do them quickly enough.

good luck with the mortgage overpayments!

Hi pebblespop

Thanks very much. Im quite pleased with it as well :cool:

I started with £200. However, within 2 days I had injected £500 of my own money. Much better return than a savings account (if you know what you're doing). At the moment, I have £700 of my own money in and haven't yet withdrawn any of the profits.

Even with £1400 of float now, I still find situations where I don't have enough in. But I guess, the bigger the float, the more bookies you hit at one time.

Just depends on how fast you want to get through them. Definatley try to start with SR free bets as not much cash is needed at betfair.

I've also only touched the UK bookies to date. Not sure if I'll do it long term or hit other currencies

How about you, how long do you want to be match betting?

Cheers

Trying_to_be_good

determined1 wrote: »

Time to get a signiture drawn up I think. (EDIT: now done)

Let me know if you think it's rubbish, too complicated, or simply boring

Welcome to the MFW Board - I think you've set yourselves some good targets, and I look forward to reading them.

A while into my own MF adventure, I discovered you can use colours in signatures - if you wanted to make yours a little clearer, you could have a different colour for each of the four categories, i.e. interest saved one colour, months saved another colour. Or it might only be me that thinks that's easier to read !

Good luck!

determined1_2

Trying_to_be_good wrote: »

Welcome to the MFW Board - I think you've set yourselves some good targets, and I look forward to reading them.

A while into my own MF adventure, I discovered you can use colours in signatures - if you wanted to make yours a little clearer, you could have a different colour for each of the four categories, i.e. interest saved one colour, months saved another colour. Or it might only be me that thinks that's easier to read !

Good luck!

Lol.....Its a good idea....but......I'm colourblind :rotfl:

so my choice of colours may look a bit crazy to everyone else

determined1_2

Hi all

So, 1 Feb 09 and my next overpayment was taken today.

Stats below for overpayments made, "interest saved" that month, "interest saved" to date, and months taken off (denoted as OP/interest saved that month/total interest saved/months saved). Think this will be my standard update for each month.

Feb 09: £740/£3,538.81/£28,620.59/43
Jan 09: £2,030/£10,364.53/£25,081.78/37
Dec 08: £2,380/£13,508.64/£14,717.25/22
Nov 08: £100/£605.23/£1,208.61/2
Oct 08: £100/£603.28/£603.28/1

It takes a couple of days for the balance online to sort itself out, so will update my signiture once this has happened.

Thanks

Determined