2011 mfw

originalmiscellany

Well done Someday Soon

A total of 12,482 for this year is great! Very well done [COLOR="rgb(255, 0, 255)"]someday soon[/COLOR].

Here's to a smashing 2012.

belfastgirl23

Hi guys, well I didn't even get as far as posting a target this year but I did do a quick roundup there and managed to overpay £2,490 in total. Which does not feel like enough but like everyone things have felt a lot tighter this year. I can't even exactly figure out why but there just seems to be a lot less money to go around. In fact I need to do a bit of financial reckoning over christmas to try to at least understand it. Anyway I wouldn't be doing any overpaying if it wasn't for the predecessors to this thread so it seems fair to add it to your overall total for the year. Well done everyone else and hi :wave: to everyone I recognise from 2009 and 2010.

I will set a target for 2012!

madeupname1

belfastgirl23 wrote: »

Hi guys, well I didn't even get as far as posting a target this year but I did do a quick roundup there and managed to overpay £2,490 in total. Which does not feel like enough but like everyone things have felt a lot tighter this year. I can't even exactly figure out why but there just seems to be a lot less money to go around. In fact I need to do a bit of financial reckoning over christmas to try to at least understand it. Anyway I wouldn't be doing any overpaying if it wasn't for the predecessors to this thread so it seems fair to add it to your overall total for the year. Well done everyone else and hi :wave: to everyone I recognise from 2009 and 2010.

I will set a target for 2012!

Hello Belfast Girl - overpaying £2490 is a great achievement in these times so well done. I am alsotguilty of not fully understanding where all my money goes, but life is for living as well as overpaying! I will add you to our 2012 thread No. 85 - just let us know what target you want to set yourself I will also add you to the 2011 thread. Well done!!!!

MsWow

Great progress everyone :beer::beer::beer:.
Not sure if anyone can answer to this but once you reached a different LTV do you contact the bank and take another product (if you contract lets you) or you just carrry on with the same product until you remortgage?

Thanks

Spiggle

MsWow wrote: »

Great progress everyone :beer::beer::beer:.
Not sure if anyone can answer to this but once you reached a different LTV do you contact the bank and take another product (if you contract lets you) or you just carrry on with the same product until you remortgage?

Thanks

Wow MsWow,

That's a question that I'm afraid leaves the answer as just "it depends"! I'm not being facetious (sp?) honestly but imho it depends on:

Whether you are in a deal that has a punitive interest rate due to the LTV ratio originally;

Whether you can get a new deal in which the rate is guaranteed to be significantly lower;

Whether there will be any early repayment charge (ERC) that could negate any saving on interest rate;

Whether there would be any application charge that would negate any saving on interest rate;

Whether your mortgage provider willoffer you another product.

Then there are all the underwriter questions to answer about affordability, etc.

In my view and I could be wrong here, to take on a different product is remortgaging.

I hope someone else will be along who may have more fruitful answers for you.

All the best,
Spigs

rockabelle

114 here - Final overpayment for the year for me - £1,900 paid off today, which brings my total overpayments for 2011 to £16,500 (£7,000 since I joined this thread). Still a long way to go though!

Spiggle

rockabelle wrote: »

114 here - Final overpayment for the year for me - £1,900 paid off today, which brings my total overpayments for 2011 to £16,500 (£7,000 since I joined this thread). Still a long way to go though!

Hi rockabelle and congratulations on your OPs. :j

I've put your £1900 payment in for December and I've added £5100 to November to bring you up to your total for this year's challenge. I hope that is ok? There don't seem to have been any other amounts posted for you so I thought it best to do this. Let me know if you want me to take it out again.

All the best,
Spigs

rockabelle

Hi Spiggle
That's fine by me - I can't access and update the spreadsheet as work restricts that kind of thing. I think my original target was 6k, so am very pleased to have beaten it! Thanks for updating it the spreadsheet

Indigo899

Quick update, I aimed to pay off 12,000 this year but managed 22,000. Our mortgage is now sub-150k :-)

miss_corerupted

hi 107 here last update for 2011.

I didn't quite make my £10,000 i paid £9668 so £332 short

i have my tail between my legs and will now slink off to the 2012 thread