2011 mfw

golfiematt

one question you get asked is how long have you been with your bank. they wouldnt ask if they didnt take it into account. I must admit ive been tempted to swap banks for the £100 but im waiting until i dont need the option of credit. ( which may be a while yet lol)

sassyblue

No.87 reporting in. £600 overpayment for January.

Reminder to those who pay council tax over 9 (or 10?) months Jan & Feb are free months you can put that extra into the overpayment figure.

Good luck all xxx

Spiggle

Hi All,

I wondered if I could pick your brains please? I'm interested in opinons from everyone and particularly those who 'offset' OPs as savings either in an offset product or a savings account that you have specifically set up to accrue OPs for the mortgage please.

I'm having a rethink about my OPs as now I (and OH surprisingly) feel that we have learned discipline in our finances. I'm considering the switch to FD and taking out two of their reg saver accounts (they have to be held in individual names so OH and I can each have one) @ 8% pa on max £300 deposit each per month.

When I first started doing this I was advised by some on here (getmore4less I think I recall) that at the interest rates of 0.69% and 1.49% on my two mortgage products I should save rather than OP. I had four well thought out reasons why we shouldn't do that (in my diary if anyone's interested) but have reassessed where we are and the changes we've made and want to consider this as an option. So your opinion would be gratefully recieved please.

I would still declare the savings as OP and subject to checking through numbers today would still pay a little bit off the mortgages every month just to see an extra bit coming off.

So, what do you think please?

Thanks in anticipation,
Spigs

gallygirl

If you bu both feel you are now disciplined then go for it! If you do feel you are weakening you can always change back to OP's.

black_taxi_2

thought it was feb/march no payment

sassyblue

black_taxi wrote: »

thought it was feb/march no payment

I don't have payments in Jan or Feb, our council tax year starts 1st March - maybe it's different for different councils??

Will have to double check mine

drewwa

MFW2011:133

My first figures for 2011 ... £3,202.41 off the mortgage. Pretty happy with that! Hope everyone else is making progress!

Cheers,

Drew.

glitterball

Thats February's overpayment in, oh how I love a council tax free month. Wish there were more of them

ekroys17

Hi Everyone and Cake21
No.93 reporting in for January overpayment.
Over payment gone out of £383, would like more but being on maternity and getting the standard SMP things are getting tight, so it is difficult to overpay more.
my PPI claim has now been transferred from the FOS to FCS to Deloitte as the mortgage broker has gone bump, seems to be taking ages, fingers crossed it will go in our favour which will mean that the unsecured loan will be paid off.

Keep up the good work guys and gals

cake21

Spiggle wrote: »

So, what do you think please?

gallygirl wrote: »

If you bu both feel you are now disciplined then go for it! If you do feel you are weakening you can always change back to OP's.

Agree with gallygirl