2010 MF Wannabes

newgirly

Hi, I know I am a little late starting for this year, but I would love to join if possible. I am currently waiting for the papers for my re-mortgage. At the moment we owe about £160,300, over 29 years 3 months
The new mortgage will have the fees added so will be about £161,300 ish, but we have decided to shorten the term to 12 years, upping our monthly payments from £961 to £1368, we are also allowed to overpay by 20%
So should I make the 20% overpayment my target? I would be grateful for any advice. Thanks very much

black_taxi_2

do mortgage holders hav on-line account newly girl

its reat seeing payments and interest go down monthly on-line

newgirly

not sure, will have to look into that.

Needhelpsaving

I have rounded this months payment up to £165 - that's it until next month.

:-)

fluffysox

newgirly wrote: »

The new mortgage will have the fees added so will be about £161,300 ish, but we have decided to shorten the term to 12 years, upping our monthly payments from £961 to £1368, we are also allowed to overpay by 20%
So should I make the 20% overpayment my target? I would be grateful for any advice. Thanks very much

It depends how much money you have available. Why not start with the budget planner to find out how much you can afford, then look for ways to increase income and reduce outgoings. 20% of £1368 is £273.60.

Hope this is helpful.

fluffysox.

fluffysox

Hello all hope you are enjoying the sunshine,

I'm loving watching the activity of the birds in the back garden through the french doors- had a robins' nest complete with chicks right by the doors. Both parents in and out with food for their little ones. Free entertainment is very MSE. :rotfl::rotfl:

I'm reporting my total for May now as a pleasing £1225. :T:T

Good job we're doing well now as there may be no OPs later in the year as OH very likely to lose his job- still at least we've saved in times of plenty as they say.

Good luck, fluffysox

cha97michelle

Another tight month for overpayments but better than last month. £92.42 for me, taking us to £1407.79 for the year, and 28.2% of my £5k target. I'm not sure if i am going to hit that one. It was rather ambitious, but i will leave it in place as you never now how things go.

kizzie01

NO: 90 checking in with May's overpayment.

Payment made of £221.82 -

Not as much as I would have liked but have been on holiday and it's my Mum's 80th birthday, so need to so something special for that.

Fluffysox - I love watching all the birds at the moment too, just spent a week on a narrowboat and there were lots of baby ducks and geese, plus moor hens, and herons. The baby ducks are priceless as they scatter when the boat goes past, they look like they're running across the water.

HarveyGal

[SIZE=+2]No. 144 OP for May: £200
[/SIZE]
Thanks to cake and well done everyone.

wynnvegas

Morning Folks,

Another landmark hit this morning - officially 200 days to go now until the mortgage is gone. We're hopefully over what was quite a tight month in April and, unless the pound plummets any further against the dollar, the holiday spending money is safely ringfenced. Pinching myself that just a couple of weeks after getting under the £20k mark, we're only a couple of weeks away from the £15k barrier.

Cheers,

Billy (#17)