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how much does anyone overpay on there mortgage?
edited 15 September 2010 at 11:27AM in Mortgage-free wannabe
69 replies 6.4K views
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At the moment only DH works and I am very lucky to be a full time SAHM to my DD who is 3 and my DS who is 1. I figure that every little overpayment is going to help in the long term and when I do go back to work we will be able to use my wage as fun money/overpayment money if we have survived the last 3 years on one wage.
Don't worry about what you pay in comparison to others. I think it's great that people chip away at their mortgage a tiny wee bit at a time. I'd have loved that sense of achievement several times a month. Back in the mortgage encumbered day, we had a really good go at it and we were overpaying £1,800 a month which meant net payments of £2,625.
I am well aware of the benefits of any overpayment and have calculated what is required to be MF by 45.
I have a fixed rate until 45yo so want to smash it by then.
Overpayments start in earnest from 01/01/11 and I will diary for my benefit.