2010 MF Wannabes

wynnvegas

pencekeeper wrote: »

Number 180.

Making good progress here, hoping job will hold out a few months more to enable me to get over the finish line.
Made a big milestone this time, and the light at the end of the tunnel can be seen.

£1900 overpayment + £40 mortgage payment (£21.15 of which is interest):

Old Mortgage balance: £10,200
New Mortgage balance: £8,250 (£19K paid off since start of year)

Milestone achieved: 4 Figures!!!!! (<£10K)
Milestone achieved: Now 5 months remaining at current repayment rate
Milestone achieved: <£0.60 interest a day (was 69p, now 57p)

Current target: Repay mortgage by end of November. (if job holds out)

Great achievement - very well done. I look forward to joining you in the 4 figure club on the 1st of August! All these milestones are great incentives, regardless of the figures involved.

Cheers,

Billy

pencekeeper

wynnvegas wrote: »

Great achievement - very well done. I look forward to joining you in the 4 figure club on the 1st of August! All these milestones are great incentives, regardless of the figures involved.

Cheers,

Billy

Cheers Actually I was reading another of your posts on a different thread, and noticed we have the same balance target for the same month - £1 in November And our mortgages started within just over a year of each other (though mine started lowish and went high when I bought out my housemate)

pencekeeper

clearing_out_my_pockets wrote: »

I can't wait until I'm at your stage! Our interest is currently £19.77 per day :eek:

In 2007/08 mine was around the £14 - 14.50 mark which I begrudged paying too. I do find updating a speadsheet which shows how much you were paying in interest each year/month/day and the new values of a lower balance is very satisfying

Whether it's £1 or £100,000 - overpaying is worth it if you have it spare (or can make it spare sensibly)

Malski

Mananged a bit more OP'ing, down to £37,533.81 now.

Kazby

AvidSaver wrote: »

Good luck, hope you managed to make a start on the essay. So heartened to read your post and know I wasn't the only one who spent the whole day trying to produce long essays - although I only have to produce 9 pages, a little short of yours. Mine has to be handed in by Thursday so pressure on. My hope is the qualification (HNC) will help promotion prospects

Belated thanks AvidSaver, I hope everything went well with your essay and you managed to get everything in on time. Fingers crossed for future promotions as well! I'm just starting to relax after the end of exams and essays...I've missed free time so much.

So Cake, just another £152.15 to add this month (Number 65). Thinking about having a special push over the next 7 months to Xmas (especially inspired as we finally slipped under the £30K milestone today).

mummyofonechild

Hi
July's £150 overpayment has been made leaving an approximate balance of £8400. This last bit seems to be a hard slog. It doesnt seem to be going down at all. Being mortgage free seems a long way away at the moment. But, I wont give up, If it takes the full 3 years to clear then so be it. Life is for living as well. I think I need motivation at the moment, the overpayment is sent by standing order so I dont have to do anything towards it.
Take care everyone xxx

Moniker

Have made June OP Of £500, making £3000 Op'd YTD - halfway to target of £6000 for the year. Will post total outstanding after scheduled payment goes out on 2nd July.

Don't beat yourself up mummyofonechild - I was hoping to clear the whole mortgage by the end of July, but it ain't gonna happen! Various building repairs and expensive student children have put back my MFD to next year. But don't give up! Every little helps and it means that bit less going into the bank's coffers and more ultimately in yours!

cheers

Moniker

wynnvegas

sassyblue wrote: »

OMG wynnvegas your poor mum!! You have more restraint than me though l'd have been round to have words with that bank manager by now :mad:

Hope it all works out, the last thing you need when you've paid your mortgage off is to have to help your mum out because of your brother.

Families eh?

Thanks Sassy,

There's a heart v head battle looming I'm afraid. I know I should effectively let her get on with it but this will probably end with me having to buy her house from her - that in itself will come with some conditions that she won't be keen on (namely that he never sets foot in it again) but if she keeps stubbornly supporting him, I'm just about sure I'll be able to steel myself and walk away.

Cheers,

Billy

mummyofonechild

Moniker wrote: »

Have made June OP Of £500, making £3000 Op'd YTD - halfway to target of £6000 for the year. Will post total outstanding after scheduled payment goes out on 2nd July.

Don't beat yourself up mummyofonechild - I was hoping to clear the whole mortgage by the end of July, but it ain't gonna happen! Various building repairs and expensive student children have put back my MFD to next year. But don't give up! Every little helps and it means that bit less going into the banks

Moniker

Thanks Moniker, We are paying double the amount we should be and the original end date was 2018 so maybe 2012 was a little ambitious but am still aiming for then. Its just going down so slowly :beer:

cha97michelle

July overpayment for me is £600. I can't see me adding anymore to that as the month goes on.

We had a well timed tax rebate.

I must be so sad, as i am on my holiday now, and organising it and reporting it here. I am also missing my desktop computer so i can't update my spreadsheet. :eek: Least it has gone now, so there is no temptation to just blow some of it on holiday. I'd enjoy it now but regret it come next Monday morning.