First step, in the long road to being mortgage free.

kingster2069

I'm another six figure sum and have only recently got below the 200K mark, so here for the long haul with the rest of you:D

adwat

I've gone from 6 figures down to 5 and in a few days it'll be 4 figures. WooHoo!

Tony_R

I have just made our third overpayment in four months. Last month was an expensive month, so we skipped the overpayment.

This month we over paid £564.48. A weird figure, I know but there is a method to the madness.

To date £1593.59 has been overpaid.

LilB_3

I too am a 6 figure MFW

Well done with your overpayments too!

Tony_R

I hope everyone overpayments are going to plan.

We didn't make one last month as we did some work to the garden, but I've just made the 4th overpayment in 6 months.

£571.22 this time, yes there is a method to get to the strange figure.

That's £2164.81 overpaid in 6 months, averaging £360 a month.

I want to keep the average above £250 minimum, so thats on target.

A couple of weeks ago we also got free cavity wall insulation from British Gas. I need to relag the loft next week too, we've only been here a year but I noticed the other week the insullation is left than half an inch. The new stuff is 11 inches, so hopefully that will make a big difference too.

Tony_R

Today I received the letter confirming my latest overpayment and what the current balance is.

We now owe £195,502.23
The original mortgage was £200,999 (started July 2010)

So we've paid off £5496.47 off the balance, £2164.81 of which is overpayment.

Sepa74

Congratulations! You must feel really good seeing the results of your hard work!

Tony_R

I've made another overpayment

Last month we skipped a month, due to other bills and the with minimum overpayment being £500.

This month we've paid £835.19, which means we've now overpaid by exactly £3,000 in 8 months. I'll post the new outstanding balance once the confirmation letter arrives.

Tony_R

Another overpayment

£539 this time, which brings out total overpayments to £3,539 in the 9 months since we started on the overpayments.

Tony_R

Got the confirmation letter of last last overpayment. The new balance is £191,906.58.

Still a long, long way to go, but nearing £10k being knocked off the mortgage in 16 months.