2010 MF Wannabes

skaps

Wow well done. Im so jealous. What are you going to do with the extra money? How long has it taken you to pay off your mortgage?

cha97michelle

violetblue wrote: »

Hi all,

Number 12 reporting in for August, with my last ever overpayment of £500. The remaining balance is now under £1k, and will be down to zero after 3 more monthly payments! I've decided not to overpay any more now, and just leave it to run its course. I'm already feeling richer, knowing that next payday I'll have so much more spare money!

3 months to go till mortgage-freedom...

Congratulations. I am in admiration of your self restraint - i would be selling the kids to clear it that bit quicker. I'm not known for my patience.

greent

Parnott - congrats re the job!!!

Violetblue - well done - that must be a fabulous feeling!!

Kerry_Woman

Violetblue - Great news about your mortgage. You must be counting down the days.

clearing_out_my_pockets

193 here reporting in with a £96.57 overpayment for the month. Have also filled in the Google docs form, but don't want to neglect the thread!

We're currently on track to meet our target in November as we've overpaid £782.98 of our target already.

Cortinaa_GTR

Thanks for the all the congrats! Just had the post delivered and no offer yet!! Aaaaaarrrrrggggghhhhh. This time tomorrow seems forever away lol!

violetblue

cha97michelle wrote: »

Congratulations. I am in admiration of your self restraint - i would be selling the kids to clear it that bit quicker. I'm not known for my patience.

Thanks all! :beer: I'm with you there cha97michelle, I'm not normally a patient person either! The only reason I'm not paying the last bit off sooner is that there is a penalty if I overpay any more before September next year - anything to avoid shelling out any extra cash unnecessarily! :money: But in 3 months time, the balance will equal the amount in my OP fund (it's sort of like an offset account) so although it won't be technically paid off, I won't have to make any more payments and won't be charged interest.

I really am counting down the days though... it hasn't sunk in yet, but I will be having some kind of celebration to mark the event when it happens! :beer:

skaps - I first took the mortgage out in November 2001, so it will have taken exactly 9 years to pay it off. It was only a small mortgage compared to a lot on here though (£43k at its highest) but I have a pretty small income too so I'm still very proud of the achievement! I only caught the overpayment bug in 2007, and it still amazes me where I seem to have found all the OP money from!

No idea yet what I'm going to do with the extra money - I'll probably be very sensible and continue to save most of it. Might allow myself a few months of reckless spending first though, just cos I can!

rumncoke

Hi, MFW 124 checking in for August. OP this month of £1368. Not quite as much as the last few months due to waiting for July expenses from DH. Will be a while before he gets them as he is currently off work & hadn't got round to submitting them.

As we had nearly reached our target of £12000 I have increased it to £17000, which should be OK as sales from my business are always greater leading up to Christmas. Given DH's current health problems we are throwing as much as we can to the mortgage, so should he have to give up work the minimum payment would drop to around £275 a month, as we left the term of the mortgage at 20yrs when we sold our old house.

When we bought this house in June 2008, we hoped to be MF in 5-7 years. If we are able to continue OP then our new MF projected date is looking like June 2012. Obviously this is dependant on DH's health & work situation.

wynnvegas

Congratulations Parnott and Violetblue! A £14k salary bump is outstanding in the current way of things and being, to all intents and purposes, mortgage free in 9 years is fantastic.

Cheers,

Billy (#17)

poppyoscar_3

PoppyOscar (112) reporting in - final OP for August £382.88 which is actaully the final OP ever, because it has cleared my mortgage!!!!!