2011 mfw

miss_corerupted

woohoo!! I've just made an overpayment of £1210 of july i had it in savings put i wanted to see some progress and OH has ideas about home improvements so moved the money before he did.

With my overpayment of £80 of june that brings me up to a total of £1290 only £8710 left to do this year. I will have to sit down and work out how much i've made over with the automatic payments

CathT

Sent an OP of 238 today. I have hit 82% of my target which I'm pleased with as originally I'd thought I'd only be able to OP £2000 for the whole year!

fluffysox

Hello all,

Been doing my best to reduce spending on groceries this month to make the budget go further, so far going well. Also Quidco have given us two payments and Halifax are always generous. But on top of this, rounded down the balances in our current accounts. So a decent OP this month. My income reducing gradually, by September I'll be on statutory maternity pay, which is not much... and it gets taxed! So have to try and resist putting all our cash into OPs... but the other side of my brain keeps saying... don't worry... you can draw it back if you need to ... or take a payment break...and save interest in the mean time. Its an addiction I tell you! Still there are worse vices to have.

2011 MFW #52 OP Target £1200/£1656.61/£405.46 July

pammyj74

No 6 signing in with Augusts OP - £200

Total now £5700/£5000 (114%) :j

skaps

Augusts overpayment of £160.11 winging its way to the mortgage - £1280.88/£2011

COOLTRIKERCHICK

no 215 has just paid another £400 off the mortgage this month... total this month is £800:j

Just phoned the Halifax for a monthly statement, but they only do annual ones:mad:

I was just wondering if anyone could make me a spreadsheet that would work out my running balance on a daily basis, and will take into account random overpayments

would be extremely gratefull if someone could help me with this.



without today's over payment of £400

our balance on the mortgage is £41'297.46.

our normal montly mortgage payment is £327.21

and out interest rate is 3.5% variable

curlygirl1971

I've not seen one that works out daily balance but I use a spreadsheet by a MSE'er called Locoblade (if you search for him you'll find his thread and therefore his spreadsheet)

It gives you a monthly balance and will handle random OP's......to a point. If you make more than one OP a month, and regardless of when during the month you make them; you'd have to add them all together and show them as one value. It calculates your interest on a monthly (not daily) basis - so if you make no OP until the end of the month then the interest calculation will be slightly out as the spreadsheet will assume your payment was deducted at the beginning of the month.

When I use the spreadsheet it calculates a 'closing' balance for the month (after interest applied, payments deducted). I then check this online against my real Mortgage balance - I have a small mortgage with the Halifax, and the difference between the Real mortgage balance and the spreadsheet value is only a couple of £. I then over-write the spreadsheet value with the real one so that it doesn't get too out of synch.

The spreadsheet also shows a Monthly Interest figure. I just inserted an extra column and calculated a daily interest figure. I suppose this would then help you get an idea of what your mortgage value is on a daily basis - but not 100% accurate. To be honest I can't imagine any spreadsheet giving you a 100% accurate or a daily balance - it would be really complicated.

froddington

No 128 - £200 OP made today

fieldofdreams

No 119 - August overpayment of £400 going in over the weekend. Balance of mortgage is now around 4k. Ive worked out that I own about 95% of my house! Not long to go now until I get to a point where I dont owe anything to anyone

Good Luck Everyone!

Barny1979

£4399 op'd so far this year and mortgae down to under £118k.