The £100,000+ Mortgage Club

Tilly_MFW_in_6_YRS

Morning Dark Knight, it's a hard slog isn't but i am with you in terms of plans. Any payment which can be made is a bonus. I have decided to OP any funds made from Quidco or TCB as well, whereas I have let them drip into normal income.

Congratulations on your OP you must be thrilled.

Best wishes Tilly

Hurdler

Bit off topic - but only just registered with TCB after getting a bit annoyed with Quidco and their (utter lack of) customer service and decent explanations...
What are people's strategies using both?
I was going to compare who had the better rates for stuff (and I also have to find suppliers who don't kvetch at using a secure storage box... I have had to stop using Misco sady because they insist that their couriers can't put stuff in the box.

I want to do the same - and start throwing cashback received into Vernon the Virtual Mortgage Piggy... but I want to maximise my dosh!

dark^knight

Tilly_MFW_in_6_YRS wrote: »

Morning Dark Knight, it's a hard slog isn't but i am with you in terms of plans. Any payment which can be made is a bonus. I have decided to OP any funds made from Quidco or TCB as well, whereas I have let them drip into normal income.

Congratulations on your OP you must be thrilled.

Best wishes Tilly

Thanks Tilly.

Yes, I am very happy with the OP.

You are right, any payment however small makes a difference.

I have worked out that if I make regular payments every month, this brings the monthly payment down every month, which adds up over the year.

Also, it keeps me active in the saving/OP mindset, and motivates me as I see the balance going down.

Another incentive for saving more for me will be that every penny that I save every month, will be used for OP.

Hopefully, in the new year, I will be tracking all my spending plus the savings.

Good luck to everyone in their MFW quest in 2012.

RenovationMan

Tony_R wrote: »

Hi,

This may or may not be a good idea for a thread, but I thought it would be worthwhile having a thread where all the people with mortgages of at least £100,000 can keep everyone else updated and motivated to keep going.

I'll try and keep this opening page updated with the details of everyones thread and outstanding balances.

Anyway, a summary of my mortgate situation.

User Name : Tony_R
Original Mortgage Amount : £200,999
Overpayments made : £2164.81 (in 4 payments)
Outstanding Balance : £195,502.23
Thread : https://forums.moneysavingexpert.com/discussion/3088718

We're going to be in this for the long haul, so we may as well stick together.

Hi, this is the first time I've seen this thread. My mortgage information is in my signature. Nice to knwo I'm not the only person with such a huge mortgage!

p.s. Merry xmas everyone.

shala_moo

Hurdler wrote: »

Bit off topic - but only just registered with TCB after getting a bit annoyed with Quidco and their (utter lack of) customer service and decent explanations...
What are people's strategies using both?
I was going to compare who had the better rates for stuff (and I also have to find suppliers who don't kvetch at using a secure storage box... I have had to stop using Misco sady because they insist that their couriers can't put stuff in the box.

I want to do the same - and start throwing cashback received into Vernon the Virtual Mortgage Piggy... but I want to maximise my dosh!

Morning Hurdler, i usually use TCB as it gives a slightly better rate than Quidc0 with the "top up" rate added. I always check Martins cashback checker though just incase..

I love the sound of Vernon.. Is he an instant savings account that you put your extra cash into?? I may be adopting this strategy myself.. I can only pay in over £500 at a time, but i'm not sure which type of account to use.

Tony_R

I hope everyone had a nice Christmas and Happy New Year. How is everyone getting on with their overpayments?

I haven't yet made one this month, i'm going to wait another week or so to see what we can chuck towards it.

I have sort of made a new years resolution to ensure I take a packed lunch to work each day. Generally I do, but the last few months I've either got up late, or not had the stuff prepared to make it. So far this month I haven't eaten out and I want to try and keep it that way as long as possible.

On Friday I started doing the night and weekend cover at work, which is basically just carrying a phone around which is a back up to one of our automated systems, you are rarely called, and so far I haven't been called so its easy money. I'm sharing it with someone else so will do every other week. That will give me another £200 for a month for basically doing nothing.

This month I also need to renew for football season ticket which is £350. I know a lot will say its unnecessary but this is one of my few treats. Rather than pay cash and miss and overpayment, I got a Natwest Mastercard which gives me 13 months interest free, which will cover that.

Tilly_MFW_in_6_YRS

Hi TonyR, what about paying for your season ticket up with a cashback card?

I laughed when I read about your pack ups for work, as an hour ago I was remind DD to make her lunch for tomorrow. I am taking tins of soup in (in fact I have a wee stack on my desk) and that works well for me.

Hope all is going well and look forward to your OP update.

Best wishes Tilly

Tony_R

The card has a points system, and they give 2500 points to start with which is worth the price of two cinema tickets.

http://www.natwest.com/personal/credit-cards/g1/world.ashx

They have me a credit limit of £7700, which is quite ridicuolous, don't worry I don't plan on using it. Just to spread the cost of my season ticket so I can put more towards overpayments, earlier on.

I've been pretty good on the lunches I've realised if I pop to Waitrose late, I can pick up a nice loaf of bread for just 19p which will last a few days.

Tilly_MFW_in_6_YRS

That sounds like a good plan, nothing like buying and earning something back in the process. I never think to pop into Waitrose late in the day - is that around 6ish?

I may give it a go.

Night, Tilly

Tilly_MFW_in_6_YRS

Morning, on the 4th March our mortgage will be £299k, so hopefully I will move down the list.

Tilly x