2010 MF Wannabes

Kerfuffle

Hi Cake21

Hi everybody,

Number 54

Reporting in with April overpayment of 264.55 gbp

Keep at it everybody.

Barny1979

Sold a load of collectables on ebay last week, so made a payment of £438.58 this morning, got my balance yesterday and I'm below the £140k mark now!

SimbaSimon

#164 checking in and submitted the details for April.

I made a token payment of £20 for this month. The plan was to do a few hundred but the electric oven is on its way out again and having repaired it several times no longer see the point of getting it repaired yet again so its time for a new one. Hopefully get back on track next month although still slightly ahead on my year to date payments.

Creditcardkid

Just made a £125 overpayment to take the monthly total to £275.00 - be my last payment of the month as have a huge credit card bill to pay off this month!!!

Filling a flat with stuff costs more than I thought it would

NoobySaver

#95 checking in for April. Managed £700.00 this month but was hoping for a bit more. I am impatient to drop down into the 40k somethings! Hopefully next month will see it finally reached. Great reading on everyones progress however large or small and good luck to everyone on our shared goal.

FirstTimeSaver_2

Baby_steps wrote: »

Yay, overpayment buddies sounds fun:beer:, at the minute we are on a fixed rate and overpaying by £100 a month. Our fixed rate ends in July and think we are going to try and really overpay for 6months to get our LTV down, we will alos have cleared our credit card debts so hopefully about £500 a month. (With our fingers crossed the interests rates stay low:eek:)

How about you? Sounds like you have already made a good start.

We're also trying for around £100 per month. Gonna try and see if we can up this over the next few months. Our LTV is really high too. Our house price went down about £20,000 in the recession about 5 months after we bought it!! Bad times!

Well done with aiming for £500, we're never gonna be able to pay that amount off. OH thinks I'm getting slightly obsessed with trying to find ways to generate more money. We are already living on quite a tight budget so I am scrutinising every penny we spend!!

Moniker

Hi folks

We are going on holiday on Saturday (ash permitting!) and so I have written the cheque for the normal £500 OP which I will take to the bank on Friday making our total OP of this year £2000. I am pleased that we have managed to keep this up, but the dream of ending the mortgage in July looks a bit remote now as we have many other calls on our savings recently and I don't think we will have the £10k required to pay it off by then (not unless my premium bonds come up!) - but I am going to try and stay optimistic and maybe we'll be able to do it just a couple of months later than I hoped.

good luck everyone - will catch up when I get back.

Moniker

Baby_steps_2

FirstTimeSaver wrote: »

We're also trying for around £100 per month. Gonna try and see if we can up this over the next few months. Our LTV is really high too. Our house price went down about £20,000 in the recession about 5 months after we bought it!! Bad times!

Well done with aiming for £500, we're never gonna be able to pay that amount off. OH thinks I'm getting slightly obsessed with trying to find ways to generate more money. We are already living on quite a tight budget so I am scrutinising every penny we spend!!

Our situations are so similar it's scary, our house value also dropped about the same!! Do u have a diary on here?

The £500 overpayments are a few month away yet but can't wait forour fix to finish so I can start!!

Ayeshalush

No.44 reporting in for April

My overpayments for this month total £400.44.

I may not be able to overpay by very much from now on as I have decided to buy a horse. I only took up riding 3 years ago and would love my own horse. I turned 40 in February this year and am starting to think that you need to make the most of every day as life is so short (not panicking in the slightest about having turned 40 .......much!!!!:o). I would love to pay off my mortgage which, if I set my mind to it and don't buy a horse, I could do in 3-5 years. I live on my own it would make me feel a bit more secure knowing that the roof over my head was paid for, however I just feel that life is passing me by. In the last year a number of people I know have been seriously ill or died and it just makes me think that we need to enjoy our lives as much as possible as you never know how long you have to do this. This is not a spur of the moment thing either, I've been contemplating it for about 18 months and have investigated fully the financial implications of becoming a horse owner.

If I do buy a horse I should still be able to still make small overpayments of about £100 a month, however everything I have saved so far this year in my 'Mortgage Overpayments' account (and a bit more) will go towards buying the horse.

I have been very sensible all my life, with respect to money and everything else, definately not a risk taker, and feel I need to make an effort to enjoy my life more.

Would like to hear other people's views (especially horse owners)? Do you think I should concentrate on my mortgage and forget the horse until it's paid off?

If you got this far, thanks for reading, I didn't intend it to be so long!!

Ali
x

FlowerPower

Hi Ali! I'm not a horse owner, but I think you should go for it. It sounds like you've thought about it seriously. From other people I know who own horses, it is an expensive and time-consuming commitment - however, incredibly rewarding as well!
You only live once, and you have saved up the money to buy the horse, so it's not as if you'll be getting into debt because of this. My view is that becoming mortgage free is a very long process, and there's no point denying yourself everything you enjoy along the way...