After reading these amazing threads i two want to be mortgage Free!!

Jenny2010

romylou wrote: »

Hi there hope you don't mind me following your impressive MFW OP's.:T

Would you not be able to put the money in a pot, then at the end of every week or month make one large payment to your mortgage. Also if you have any unexpected expenses, then there is a small reserve to help you out.

Thanks for the reply.
I've actually been thinking of doing that because I read somewhere interest can be calculated daily - so everytime you make a pmt it changes. Hope this isn't case. Thnk i'll just overpay by £200 on the first of everymonth and see where that takes me xx

Jenny2010

Morning all! Hope everyone has had a fantastic weekend. No overpayments made this week but I have a £100

Jenny2010

Hello everyone - Paid another £50 off my mortgage today :-) also the OH has a new job which he starts a week on Monday - pays £500 a month more after tax to what hes on now!! Some good luck has finally come our way. It'll be a little more expensive with travel and childcare but no more then an extra £100 a month so we will still be bringing in an extra £400 a month to the household. Very happy at the moment xx

CathT

Brilliant news about the new job for OH.

I send my payment by online backing but if i want to alter amount or date I can do this. I find it very flexible.

Really looking forward to Christmas now as I can see DD getting very excited in the coming weeks! It's all so magical at that age isn't it.

Jenny2010

Morning all. Haven't updated this in a while - I've just made another overpayment this morning of £50.00. Only a small amount this month as the OH is now being paid monthly and will have his full wage at the end of this month. Hopefully be able to make a bigger payment next month. One good thing is I've bought around 60% of the xmas presents I need, Sainsbury's hald price toy sale came in handy x

Farfallina

I wish I'd all been as wise as you lot when I got my first mortgage eight years ago. But better late than never. If and when we get our new mortgage, we will be overpaying each month. Good luck to all of us!

Jenny2010

Forgot to mention I received my first mortgage statement since starting the over payments at the weekend and it felt so good to see how much more i'd paid off since starting this. I'm currently a short amount away from going into the 94k bracket. I'm hoping to do this by Xmas, I'm making the OH work all the overtime he can. Bless him!! All my overpayments are going towards the unsecured part of my loan - as paying this off quicker will benifit me better. It currently stands at around £22500, another mini goal that i've set myself is to have this amount reduced to under £20k by April next year. Wish me luck :-)

BeauBelle

Hi Jenny

I too am a recent MFW and just wanted to say well done on managing to overpay as much as you have.

Every little bit helps

BB
xx

AnnaBeth

Good luck Jenny sounds like you'll do well.
Every little helps!

Jenny2010

Morning everyone. I've been fairly quiet this month. I've just paid another £75 off the unsecured loan. I would have paid more but with the OH new wage we have redecorated the living room - new sofa and carpet. It looks lovely. All Christmas presents wrapped asnd bought. I do need to buy a tree - think we will get around to this, this coming weekend. Roll on xmas I'm sooooooooo looking forward to it xx