2010 MF Wannabes

pammyj74

pammyj74 wrote: »

NO 6 signing in once more with another £200 overpayment :j

total OP this month is £627 :beer: Unbelievable really but I am keeping to my GC budget and trying hard with the NSD

daily interest at the moment is £13.29 but next month it will be £7.83 with the rate going off my fixed to SVR.
And may put ym term down a bit more too :cool:

I am getting confused with my OPs as I normally set them up to come out on the 1st (dec for 1st Jan and Jan for 1st Feb) but through Jan and feb I have been OPing throughout the month but still classing it towards the next month (so OP today will be classed as OP for March if you understand where I am coming from :huh: )

My Ops so far have been Jan - £533.20 Feb - £533.20 according to my SS (this is with the extra I am paying over my normal usual £600 that has been upped to reduce the term!) still with me???

So my total for the year so far is £1066.40

Today I have OP'd £200 which I will class as March to keep it right in my head!! But if this causes confusion over the totals then I guess I can class it as Feb OP

I really hope you understand all that :cool:

miss_undastood

whoooo!

My perf-related bonus is much larger than anticipated. As previously discussed it will go into savings - and I'll use it to max out this years ISA and next year's whopper as I believe you can put in £5,100.

Hopefully I can get both in at a good rate linked to BoE rate or something towards the end of the tax year - does anyone have any experience of waiting til the last min to get a stonking deal?

Hopefully this will then allow me to save steadily throughout the year towards a normal savings account where I can whip money out to put towards the mortgage as soon as rates rise.

If I'd have put my bonus towards the mortgage as I was going to then I'd almost be at my annual target - which is loads better than I thought - I'd realisitically planned to put in about £4,500 for the year, but wanted to push myself.

Anyway I feel like I'm rambling now, but cake if you can pencil me in for a £3,600 payment in March towards savings I'd appreciate it.

Congrats everyone on all OP's so far - we're all doing really well - let's keep it up

SmileyG_2

MFW #48 reporting in

Second overpayment of 2010 made on the 15th February
Numbers are

2010 Overpayment target: £2760
Feb overpayments : £250
Overpayments to date: £500

My overall mortgage status is now:

Mortgage at 15/02/2010
Outstanding balance: £53,963
Estimated endowment value: £22,780 (@31/01/2010)
Investments: £12,915 (down since beginning of year:()
Deficit: -£18,268


My overpayments since Jan 09 will also save me an estimated £694 before my target MF date of September 2014

SmileyG

P.S. cake, have updated via Google docs (just in case we double account;))

canne_2

Payday yesterday and I have paid $825.60 extra to the mortgage. Total for February so far is $1243.10.

fluffysox

Has anyone else had a look at MSE's new super-duper mortgage calculator? It shows the power of overpaying. I am quite excited by the possibility of my mortgage being paid off in 5 years if I can overpay £800 a month. Or in 4 years if we overpay £1000 a month!!!! Only time will tell if this is really possible but any reduction is a good reduction


http://www.moneysavingexpert.com/mortgages/mortgage-calculator

Kazby

Coursework for February handed in last night which means my month of self-imposed internet abstinence is over, yay! (Would never get anything done otherwise, far too interested in the MSE forums, window shopping for shoes, facebook etc!)

How have I decided to celebrate? Now that other half has had his contract renewed for the next year I am extremely pleased to report we have taken the decision to pay all our savings (except the emergencies money) off the mortgage. That's £5400 off the mortgage! (Yes I really do know how to party lol)

Off to look at shoes!

skaps

Well done on the coursework and the overpayments Kazby. :T

Little_Mama

Number 20 reporting in early with the February overpayments, as any extras will probably go into the savings offset.

Thankfully a better performance than last month, certainly helped by no Council Tax & Water Rates.

Feb overpayment = £714.71

Puts us back on track for the £5K target.......now I've just got to keep that up for the rest of the year! :eek:

Keep up the good work everyone. :T

LM

elliemoo

No 33 here, I have made my £499 payment for February. We are now below £50k on the mortgage and it looks great.

mindymoo1

Hiya... I'm new so I haven't even got a number yet!
I want to chip away a bit more on my mortgage...
outstanding balance: £47 750
but going on quite a holiday so realistically can start
chipping away when I get back!

I agree Elliemoo a mortgage >£50K looks great....and feels great! : )