2010 MF Wannabes

haras_nosirrah

Hi Everyone

• Have a target of 6k overpayment (Nationwide so limited to £500 a month) unfortunately due to vendors changing their mind on yet another house we have managed to exchange but won't be completing till Feb so will be looking at a £5,500 overpayment. starting at a mortgage of £120k so hope to be at £112k next new year through overpaying and normal payments. Good luck everyone and happy new year

ajmoney

My first OP for 2010 of £100 has been paid :j

golfiematt

drat its a bank holiday ill have to wait till tomorrow to o.p. lol

MoneyQueen

A great and MF New Year to all the 2010 MF Wannabes

MQ

VickyA_2

No overpayments so far. The gas central heating in our new house needs a COMPLETE rehaul, which knocks on and into our other budgets. It'll just be a bit tight for a while.... Doesn't really help that one of my new years resolutions is to get a new job and the likely ones are less than my current salary (and in a different industry altogether...). Watch this space!

Oh and a happy new year! :beer:

moggyr

With the start of a New Year I thought best time for a challenge. Hoping to make overpayments of £3k for the year and reduce the mortgage. Heres hoping.

ekroys17

Happy New Year to one and all.
Just called my mortgage company and the capital amount owing has been reduced by £1257, of which £571 is Januarys overpayment. :j

This is addictive as I'm wishing the months away so I can see the balance dropping down. How sad am I? lol

Must try to get all my wedding stuff onto Ebay as we bought the mens suits rather than hired them as it worked out much cheaper plus we would get some money back when we sell.

Good luck everyone.

violetblue

Hi all, and happy new year to all you fab MFWs! :beer:

Have phoned my bank this morning to find out what my mortgage balance is, so that I can calculate my OPs for the year. I'm currently allowed to make extra capital repayments of up to 50% of the balance as at 1st Jan, without penalty.

My outstanding mortgage is now down to £7970, but as they add back on the balance of the overpayment fund before calculating the 50%, I am actually allowed to make OPs of up to £5850 in 2010.

Since my regular payments would take the balance down to around £4000 by the end of the year, this means I should be able to clear the mortgage completely, without incurring any penalty charges. Woo! :j

Capital repayments have to be at least £500, so I'm going to stick money into savings until there's enough to ring up and pay it off the mortgage.

I'm so excited!! Good luck to everyone else with your goals, 2010 is going to be a brilliant year, I can feel it! :beer:

taka

Happy new year!

1st OP of 2010 for me... £113.78 now on its way to my mortgage!

pollys

First overpayment £1000 made I'll pm you cake.

Happy New Year Everyone