2011 mfw

RosieTiger

Well done to you all on the £500,000 repayment, that's a great achievement!

tina01904

I've bitten the bullet and increased my regular overpayment to £128 which rounds the monthly payment up.

I'm sure once I get used to transferring a larger amount into the bills account I won't really notice the difference but we'll see and I'm sure it'll be worth it in the end (not to mention a bit of a buffer if the rates start to rise)

Imelda

#199 reporting!

Sorry, first report for the year

In brief, a bonus (dh) redundancy money (me) and OPs of approx £1500 per month mean as of 17/8/2011 we have paid off approx £70,000 :j

£15,350 is OPs off the capital owed (regular payment)
about £55,000 money saved monthly and from little windfalls (redundancy, bonus, tax rebate) into our offset

It's going to be tougher going from here on in as I still do not have a permanent job- just a part time temp job until Christmas. But DH earns enough to keep up the regular OPs and I have some shares to sell (when the market picks up) so we're still on target to be MF by next August

Current figures as per sig:

Mortgage 17/08/11: £284,650.00
Offset 17/08/11: £150,600.00
Remaining 17/08/11: £134,050.00

I promise to update more regularly too

oh and new target is £80,000 by end of 2011

babyb06

WOO HOO!!!!

No 152 has just checked the spreadsheet and has beaten the year's target already!! Despite knowing I had a couple of days ago (as I wrote on my thread) it is amazing to see it on the chart all highlighted and the exact percentage over target I am at!

Thank you for the thread and all your hard work Cake!

miss_corerupted

number 107 here, just had my quarterly statement and I have paid off 3379 from april until july. just need to remember where I put my jan - mar statement and should get and idea of how much i've paid of.

I hope it will round me up to about £5000

Barny1979

£190.00 paid this morning to take me up to £7,750 for 2011

goobergirl

Good morning,

pay day yesterday and another £2000 overpaid to the mortgage.

New balance £236,000 ( give or take a couple of quid. I won't know exact balance until I get my lovely OP confirmation letter from Northern Rock).

I didn't have anything spare to add for August but will try again this month.

I have to admit to having a moment of 'will I /won't I' overpay this much this month as we are needing to do some things around the house and are saving elsewhere for these. I just had a real moment when I thought they could get done so much sooner if I diverted the OP money elsewhere. Then I just thought about how much I WANT to be MF. So much more than I want the home improvements so I 'phoned Northern Rock and made the payment before I changed my mind again. I felt instantly better, especially since I have saved myself £8.60 in monthly interest payments even after only the 2nd month.:)

Does anyone else have these moments?

Peonie

goobergirl wrote: »

I have to admit to having a moment of 'will I /won't I' overpay this much this month as we are needing to do some things around the house and are saving elsewhere for these. I just had a real moment when I thought they could get done so much sooner if I diverted the OP money elsewhere. Then I just thought about how much I WANT to be MF. So much more than I want the home improvements so I 'phoned Northern Rock and made the payment before I changed my mind again. I felt instantly better, especially since I have saved myself £8.60 in monthly interest payments even after only the 2nd month.:)

Does anyone else have these moments?

Absolutely. For both overpaying the mortgage and into savings. A few days after moving into our new house (and at the beginning of the month) I thought for days about moving an extra £300 into my ISA, in the end I did it. But at the end of the month my out-goings were £290 over my income. :think: :doh:
Anyway, now it's in the ISA and once it's in, it's in, I'm getting closer to my goal and it's not coming out again.

kimbo26

Hi can i up my target this year to £2200 pound, just realised this is how much extra a yr i need to pay off if i want the mortgage gone by the time i'm 45
thanks

Kerry_Woman

No. 41 Made an o/p of £100 today.