Thank you to everyone on this board

mrso2b

You inspired me to round up my monthly mortgage payment from £1174.25 to £1200 a month - saving us £20K in interest and knocking nearly 3 years off the mortgage term!

You made me realise the smallest overpayment can help and luckily I only got my mortgage in Jan this year so I'm reaping the benefits of reading this board early!!

puppychick79

Im a regualr reader but not poster but ive done the same as you rounded the payment up of only by £11 a month but its knocked 2 years off my mortagage term. Im trying to make overpayments which has been a little hard seeing as a few unexpected things have cropped up but i keep popping on here for a little motivation!!

mrso2b

I'm currently saving for a wedding too, once that is over I will start overpaying more. It's a flaming cheek the amount of interest the banks charge!

LilacPixie

it's amazing how little pits help. Lets be honest you won't miss the little bit of overpayment but it makes a huge huge difference to your term and interest paid

mrso2b

Any ideas on how to combine overpaying whilst also improving the house? ie our bathroom really needs doing up!

Cortinaa_GTR

mrso2b wrote: »

Any ideas on how to combine overpaying whilst also improving the house? ie our bathroom really needs doing up!

Just to confirm mrs02b doesn't live with me lol.:rotfl:

mrso2b

Lol Parnott, have just read your thread about your dilemma!

LilacPixie

shop around, shop around shop around. strike a balance

mrso2b

I guess you have to see it as a marathon and not a sprint!

LilacPixie

It certainly is. I just dipped below the 50k mark and then went and sold my house so give it a 6 ish weeks and we will be right up at 110k give or take a few hundred.

tootallulah

I'm not the best person to ask, I will have added £20k (or possibly £25k) to the mortgage to get everything done on my house. It will be lovely when it's finished but it is a bit scary at the moment as I keep saying yes to everything rather than sticking to the budget.

I do agree with the shopping around thing and remember that VAT goes up in January so it just may be better to get it done earlier rather than wait? Don't take my advice though I've got no off button where spending is concerned. Others should be heeded.