2011 mfw

Spiggle

ekroys17 wrote: »

Hi All
No. 93 reporting in, Sorry I've not posted in a while.
I have checked all my payments in 2011 and my overpayments so far is £6467, I need to add another £200 OP for December, so my total OP for 2011 will be £6667. Woohoo !! my target has been reached.
I've not thought about my target for next year as yet, I know it will continue for £200 per month but we are looking to move.
Have a merry Christmas folks and have a OP new year.

I've updated your total to reflect your post eckroys.

Year to date paid is £867,562 which is 67.25% of target. As OM says it would be good to get this to 70% so please do let us know your updated figures.

Merry Christmas,
Spigs

Tilly_MFW_in_6_YRS

These figures are amazing. How fantastic to have OPd so much. When back in the UK I will have a look at he 2011 SS. Superb achievement and looking forward to see what can be achieved in 2012.

Merry Christmas all, Tilly x

madeupname1

Thanks to the updates received from:

NellieB (2011 MFW number 122) who has achieved a massive 156% of target
Poppycat1 (2011 MFW number 111) who has recorded an excellent 82% of target and
Jolaaled (2011 MFW number 202) who also smashed their target to reach 142% of target (although please double check the spreadsheet because you had 3 entries for September and none for October in your updates)

That means that together we have repaid £869,392 - 64.70% target. Please keep the updates coming in

And remember that the 2012 MFW thread is still recruiting

sarahevie

£10,000 - when our monthly pay has averaged £2000, and our normal mortgage payment is £850 we are pleased with ourselves.

madeupname1

Thanks sarah evie (no.38). Google docs updated accordingly and shows your OPs were 200% of your original target. Congratulations!

We also had an update from Gally Girl 2011 MFW No.11 who reported a total OP for the year of £14,419. Slightly off target due to an unexpected investment opportunity but still a great OP. Great work everyone!

MsWow

Spiggle wrote: »

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

Spigs thanks for your answer. I now have to reach my next LTV level and decide/speak to our mortgage provider when time is right (a new challenge for 2012 :j).

Also I've managed to pay my last OP for 2011 which was £1000. I'm really pleased with my overpayments and I can't believe that although 9 months ago my mortgage was £126.500 and today is £117.200. I'm looking forward for the next year!!!!

originalmiscellany

MsWow, I've updated the figures - and be proud (as has been said already). 131% of your target saving is a splendid effort

Cortinaa_GTR

I still don't have my update post from 25/10 included even though Cake and Spiggle thanked me for it. :-/

I will hopefully get over the line soon!

fillyfop

No.33 with my final overpayment of the year.

This month I have managed to overpay by £1037.04 which I am over the moon about. After a rather up and down year in terms of over (and some under) payments, I have had 3 months in a row of beating my £500 a month target so hopefully I am now on the right track for a good year next year

See you all on the 2012 thread.

madeupname1

Parnott wrote: »

I still don't have my update post from 25/10 included even though Cake and Spiggle thanked me for it. :-/

I will hopefully get over the line soon!

Sorry Parnott - now updated! 98% of the way there!:j Any more updates for 2011? Hopefully see you over in the 2012 thread