2012 mfw

pammyj74

No 53. signing in, another OP of £120 this month to knock another month off my term :j

total now £2570

Thanks guys for updating as always x

pammyj74

Southernman wrote: »

went into Natwest this morning and cashed in my 5, 10, 20 and 50ps. Amounted to £25.69. It's like random easy money that i don't deserve or notice!

My overpayment was £25! (69p pocket money lol)

I do feel like i'm getting nowhere though with overpayments, as though my balance is barely going down . Not sure if it's because i've just completed my first year of the mortgage and probably pay lots of interest at this early stage but still...

Your OPs however big or small will make a huge difference. Every payment knocks a chip off it. Eventually your daily interest rate will be significantly smaller and thats where you notice it (well I do anyway) and then your OPs will make even more difference.
So far since starting mine in 09 I have knocked off 13 years off my term and saved no end on interest payments alone! All by OPing here and there and reducing the term when the interest goes down rather than my payments going down.
Good luck it is an uphill battle, especially where spending is concerned and knowing what you can and cant afford here and there. But if you are determined you will do it, its all a frame of mind that after a while becomes second nature (well to me anyway its now a way of life)

VoucherMan

At last the first payment's gone through.

No.149 - £200 overpayment.

Spiggle

Evening All,

Great OP pammyj and some really wise words of wisdom too!

I can feel your relief Voucherman! All updated for you.

And from the googledoc, £20 is great for shrapnel originator.

See you all tomorrow.

Take care,
Spigs

froddington

No 103 - just made an OP of £200

TwinnyD

No. 128 - May overpayment of £45 made

sweetdaisy

Thanks for doing the update Spiggle. I am now at 62.50% of my original target :j.

cardiffmatch

Dear all,

Can I join in? Having finally (almost) tackled my post-uni debt mountain it's time to turn my attention to the mortgage. I bought my place five years ago on a 30 year but have only started overpaying in the last couple of years, small amounts at a time.

I hope to make my last credit card payment in June and then aim to bring my mortgage OPs up to £6000 by the end of the year.

If this goes according to plan I will be one very happy bunny.

MoneyMission

Hi Spigs et al

Number 120 updating. Payment made for May of £126.62.

Fank Ewe
MM

Spiggle

Hello everyone,

Well done froddington, all updated for you.

Your great OP is listed too TwinnyD.

I know sweetdaisy, an excellent position you are in there!

And MoneyMission, your brill OP is updated on the spreadsheet too.

A warm welcome to you cardiffmatch, you are No.151 with a healthy target of £6,000 by year end. Good luck and welcome to the challenge. Does your name indicate location by the way? If so, we're quite close.

See you all later,
Spigs