2010 MF Wannabes

knithappens

No 194 my OP was £100 this month

pollys

Well November overpayment paid:D, can't believe there is just one overpayment and one regular payment to make this year. I'm really glad that we reached and exceeded our original target.:j University is costing us a lot more than we anticipated so we will have to look very carefully at our finances when setting the next target. Hopefully DH will avoid redundancy although he has to apply for his job! and as I work in school my job is relatively safe (so Ive been told) Our savings now exceed our mortgage but we don't intend to use them to pay it off, not yet anyway. I need the safety of savings. Well done to everyone on your achievements this year, looking forward to seeing how much we have overpaid by in 2010.:beer:

Pollys

cake21

.....................................2010 OVERPAYMENT TARGET OCTOBER TOTAL YEAR TO DATE (spreadsheet version here)

1. cake21 - £16000 / £687 / £15034
2. cha97michelle - £5000 / £507.94 / £3353.82
4. someday soon - £10000 / £881.47 / £8814.7
6. pammyj74 - £3000 / £711.6 / £4388
9. pollys - £5000 / £50 / £6200
10. pigtails_21 - £3500 / £500 / £3650 Target reached October!! :j:j
14. SOandSO - £20000 / £500 / £12020
15. Lynn11 - £4100 / £740 / £4700 Target reached October!! :j:j
17. wynnvegas - be mortgage-free! (£22440 OP) / £2502.57 / £21980.36 MF Graduate!!!:beer:
18. golfiematt - £6000 / £500 / £5000
19. uzubairu - reduce mortgage to £65000 (£10000 OP) / £1200 / £10130 OP target reached October!! :j:j
20. Little Mama - £5000 / £355.82 / £4575.66
23. gratefulforhelp - £3000 / £48 / £1742
26. waughc01 - £13750 / £750 / £12500
29. financialbliss - £6000 / £500 / £5000
30. black taxi - £7200 / £141 / £6361
31. Thriftyknickers - reduce mortgage to £110000 / £1000 / £1500
35. Topaz7 - reduce mortgage by £30000 / £18900 / £21000
37. ironman1 - £4000 / £540 / £4003 Target reached October!! :j:j
41. Kerry Woman - £1500 / £100 / £2040
42. ajmoney - £1700 / £139.76 / £1412.6
46. haras_nosirrah - £5000 / £1000 / £3000
48. SmileyG - £2760 / £400 / £3050 Target reached October!! :j:j
52. fluffysox - £10000 / £160 / £10320
57. Creditcardkid - £14000 / £150 / £7575
60. glitterball - £10000 / £639.28 / £10671.09
66. puddle96 - £12000 / £350 / £9075.08
70. sheslookinhot - be mortgage free! (£5000 OP) / £65 / £4871 MF Graduate!!!:beer:
81. abouttimetoo - £9600 / £500 / £5300
83. jaywhoopee - £4000 / £325.03 / £3376.69
87. sassyblue - £5000 / £321 / £1350
90. kizzie01 - £4200 / £421.82 / £2865.2
91. AvidSaver - £3300 / £250 / £3300 2nd target reached October!! :j:j
93. ekroys17 - £6000 / £662 / £9051.93
94. Mr Pickwick - Completely clear £27,666 mortgage (£23573 OP) / £2120.84 / £21208.4 MF Graduate!!!:beer:
95. NoobySaver - Mortgage free Christmas 2012 (£23850 OP) / £1250 / £21350
96. Needhelpsaving - £1500 / £38.96 / £1788.96
97. Moniker - be mortgage free! (£6000 OP) / £500 / £5000
101. miss undastood - £7200 / £640.85 / £9965.11
102. canne - A$13000 / A$1536.93 / A$13884.39 Target reached October!! :j:j
105. prudence41 - £6000 / £500 / £5000
119. fieldofdreams - Completely clear £22500 mortgage! / £400 / £11500
121. vwchris - £14500 / £500 / £10700
122. NellieB - £3000 / £350 / £3750
124. rumncoke - £13600 / £80 / £13433
126. chelly78 - £1700 / £50 / £1777.32
128. froddington - £4000 / £320 / £3620
130. azza2007 - £5000 / £500 / £2000
138. anthonini - £4500 / £500 / £4000
139. curlygirl1971 - £2000 / £395 / £2636
149. skaps - £700 / £160.11 / £741.1 Target reached October!! :j:j
150. mummyofonechild - mortgage-free by 2012! (£2000 OP) / £250 / £1750
156. LittleMissKitty - £1200 / £216.07 / £1464.28
159. fruitdogs - £12000 / £600 / £9736.68
164. SimbaK2K - £2000 / £150 / £1650
173. greent - £10000 / £777 / £4933
177. Parnott - £6000 / £1250 / £700 2nd target reached October!! :j:j
183. lighthousescotland - £1320 / £205 / £1057.95
184. newgirly - £2113 / £274.52 / £1562.52
192. ElusiveLucy - £6500 / £500 / £4814.3 Original target reached October!! :j:j
193. clearing_out_my_pockets - £1000 / £94.81 / £995.88
194. knithappens - £700 / £80.86 / £349.25
195. wildfrog - £1000 / £138.31 / £782.79
204. skintscotslass - £800 / £200 / £400
206. emma_nottingham - £1500 / £77.25 / £1336.96
210. limpy-jim - £2250 / £228 / £228


TOTAL - £1,270,841 / £52,815 / £791,378

fluffysox

Hello everyone,

November OP £185
New Yearly total £10505

52. fluffysox - £10000 / £185 / £10505

Thanks to Cake for updating our totals every month- you've done a brilliant job!

Fluffysox

Di-Dough

No 51 checking in for November. I missed October but doubled the November payment - so payment for November is £269.84.

And a big congratulations to those that have made their targets and paid off their mortgage :j:j:T:T

Di

Moniker

Have spoken to the Building Society and redemption penalty is going to be around £37, less than half the interest we would pay if we carried on till the end of the term next July. I have made an appointment to see a mortgage advisor on Friday 3rd December with a view to paying off the remainder then which after the Nov OP and Dec 1st regular payment should be around 6400. I now feel committed to doing this having made the appointment.

My OH thinks we should keep £1 on the mortgage in case we want to borrow again, but at our age I think that would be stupid and psychologically the house would still not be all ours! What do other people feel about this? I am for paying the whole damn thing off and be done with it!

Have a good rest of the weekend everyone.

Moniker

wynnvegas

Hi Moniker,

We had the same discussion. Thankfully, HSBC took the decision away from us by confirming that leaving the mortgage open at £1 wouldn't make a blind bit of difference as we weren't able to reclaim any overpayments made and any additional lending would be at the same interest rate as a new customer. The lovely letter that arrived on Friday from HSBC confirming that I had fully repaid the loan and that the deeds are on their way was great. On the flipside, I don't think the feeling would be that much dissipated if there was only £1 outstanding.

Cheers,

Billy

ElusiveLucy

My OPs for November have now gone through (£1250 in total) and another 2 months have come off my official mortgage term (although I want to pay it off a lot earlier than the official end date). :j

I think I will reach my new target for the end of the year, but with Christmas coming up it is going to be really difficult to pay off any more than that. Such a shame, as if I could find and extra £315 I could get my year end balance below £70k, which would be amazing.

curlygirl1971

wynnvegas wrote: »

The lovely letter that arrived on Friday from HSBC confirming that I had fully repaid the loan

Think I'd be tempted to frame it.

violetblue

Well I can hardly believe I'm saying this but...

I did it!

My November payment has cleared the last of the balance, and although the mortgage is still technically open (with enough in the overpayment fund to cancel out the balance) I do not have to make any more payments, so I reckon that makes me mortgage-free!

In fact, they now owe me money (a whole £18!) because the last direct debit payment they took was slightly more than the outstanding balance.

It doesn't feel real yet... But very very nice indeed to be finished paying before Christmas!

Plans now are to treat myself to nice things for the next couple of months, and then to get on with all the home-improvements I've been putting off!! Should keep me out of trouble for a while!

Congrats to all the others who have graduated from the MFW club, and to those who are getting close - loads of good news on this thread lately!