Get yourself a 'Mortgage Pig'

halloweenqueen_2

Welcome just - you do have to name it publicly on here as well - I have the very well thought out pigsy!! Aliasojo the OP named hers herman!!

justanothermuppet_2

as soon as I've bought him/her, I'll give them a name and let you know what it is

babysaver

Just started a new 25 year mortgage this month. I've had a wee piggy for ages who has now been elevated to the Mortgage Piggy. I had a competition in the house to name him/her (10p a go - every little helps!). I was going to go for Woody 9 (a play on my address) but my son suggested Woody Pay (as in woody - would he - pay the mortgage...). Piggy has now been duly named: "Woody Pai, the mortgage piggy" and have got £8 already (plus £20 expenses that I claimed ages ago and forgot about). I'm hoping to overpay at least £50 per month - just going to check one of the spreadsheets to see how much earlier that will pay off my mortgage...

babysaver

Ooohh - if I manage to find an extra £50 per month, the mortgage will be paid 4 years early...and so far this month I've got £28 which I think is a good start. I'm off to money saving old-style to find ways to cut back now

comping_cat

Paying another £32 into my mortgage tomorrow!!! Means i have paid more than £200 in this month, so really pleased with myself!!!! Next month, because of the school holidays, i know i wont be able to save much, if any, so pleased to put any little amount in at the moment!!!!
Good luck to all the new mortgage pig savers as well!!!!! Posting on here regularly really helps keep me focussed and to keep saving, so hope it works for you too!!!!

nellis10

After reading all these fabby posts I've tried to find a Piggy Somewhere but it still eludes me!! Will search in town tomorrow!

I phoned my mortgage company today and found out that I could over pay my mortgage by 10% a year!!!! I hadn't realised this at all!!!

At the moment I'm separated from hubby, going through financial settlement. The house I am in is the one I bought with my mum in Nov 05 to be an investment (thank god says I!!!!) Anyway once I know how much I am getting from hubby I will buy mum out of the mortgage (4.99% for 5 years fixed) and fling any money left at the mortgage. If I can make a payment in Dec of £7200 and another one in Jan 07 of 6480 it leaves me with a mortgage of £58320 - I am in this fixed deal until 2010, so if I can at all manage to overpay 10% until then i will cut my mortgage down to £42500.

I will then be able to afford to get the mortgage in my own name as a repayment one and throw even more money at it as at the moment I am interest only.

Wow!!! at this rate I will be mortgage free well in advance of my original 2030 date!!!!!

comping_cat

Well done nellis10, its a good feeling when you can see something happening!!!! Good luck in your search for a mortgage pig!!!!

halloweenqueen_2

Its great that this thread has started helping us to overpay and be mortgage free earlier. I find it concentrates the mind on what you buy.

babysaver

...and on what you can sell! I'm off to search the house today for e-bayable things to add to my mortgage pig :money:

justanothermuppet_2

Hurray! I have a pig. (and I did have to spend anything ) I went 'shopping at home' and found an old piggy bank that I forgot we had.

So now we have Daisy the Debt Free Pig!

And I've already fed her the money that I would have spent buying one if I hadn't found her.