Where to put the extra cash..?

bownyboy

Great work. It's frustrating not being able to see your mortgage account online isn't it. I'm also with A&L / Santander and they said only their e-mortgage holders can view online.

My 5 year fix comes up May 2014 too so will be jumping ship to someone else that allows viewing online (among other things like decent rate, no fees and unlimited overpayments!)

cb4fwh

A little. I've compensated by producing my own spreadsheet which satisfies my urge for figures, as well as showing projections etc.

I work around the whole unlimited overpayments thing by simply dropping any excess cash in savings. Not ideal I know with savings rates vs mortgage rates, but I'm not aware of any lender who will allow unlimited overpayments on a fixed product. Do they exist? If so, I would imagine that their rates are less favourable?

cb4fwh

Another month, another overpayment of £998.

cb4fwh

Another month, another overpayment of £998.

cb4fwh

Another month, and another overpayment so everything remains on track. Signing up to http://www.noddle.co.uk has been a godsend, as I am now able to track my mortgage balance on a monthly basis. If credit reference agencies can do this, why can't Santander!? Anyway...

So, as of the end of last month, my mortgage balance was £184,407.00 so I remain on target for circa £170,000.00 by year end.

At the same time, my savings pot for my January overpayments and end of product overpayments remains on target with £3,500.00 put to one side. This will hopefully continue to increase at the required amount of £700 per month. It looks difficult, but achievable hopefully! If it does go to plan, April 2019 should see me mortgage free!

cb4fwh

The detailed plan...

Jan-13 - Deposit of £0.00, Balance of £0.00
Feb-13 - Deposit of £700.00, Balance of £700.00
Mar-13 - Deposit of £700.00, Balance of £1400.00
Apr-13 - Deposit of £700.00, Balance of £2100.00
May-13 - Deposit of £700.00, Balance of £2800.00
Jun-13 - Deposit of £700.00, Balance of £3500.00
Jul-13 - Deposit of £700.00, Balance of £4200.00
Aug-13 - Deposit of £700.00, Balance of £4900.00
Sep-13 - Deposit of £700.00, Balance of £5600.00
Oct-13 - Deposit of £700.00, Balance of £6300.00
Nov-13 - Deposit of £700.00, Balance of £7000.00
Dec-13 - Deposit of £700.00, Balance of £7700.00
Jan-14 - Deposit of £700.00, Overpayment of £1171.18, Balance of £7228.82
Feb-14 - Deposit of £700.00, Balance of £7928.82
Mar-14 - Deposit of £700.00, Balance of £8628.82
Apr-14 - Deposit of £700.00, Balance of £9328.82
May-14 - Deposit of £700.00, Balance of £10028.82
Jun-14 - Deposit of £700.00, Balance of £10728.82
Jul-14 - Deposit of £700.00, Balance of £11428.82
Aug-14 - Deposit of £700.00, Balance of £12128.82
Sep-14 - Deposit of £700.00, Balance of £12828.82
Oct-14 - Deposit of £700.00, Balance of £13528.82
Nov-14 - Deposit of £700.00, Balance of £14228.82
Dec-14 - Deposit of £700.00, Balance of £14928.82
Jan-15 - Deposit of £1000.00, Overpayment of £13611.01, Balance of £2317.81
Feb-15 - Deposit of £1000.00, Balance of £3317.81
Mar-15 - Deposit of £1000.00, Balance of £4317.81
Apr-15 - Deposit of £1000.00, Overpayment of £4489.57, Balance of £828.24
May-15 - Deposit of £1000.00, Balance of £1828.24
Jun-15 - Deposit of £1000.00, Balance of £2828.24
Jul-15 - Deposit of £1000.00, Balance of £3828.24
Aug-15 - Deposit of £1000.00, Balance of £4828.24
Sep-15 - Deposit of £1000.00, Balance of £5828.24
Oct-15 - Deposit of £1000.00, Balance of £6828.24
Nov-15 - Deposit of £1000.00, Balance of £7828.24
Dec-15 - Deposit of £1000.00, Balance of £8828.24
Jan-16 - Deposit of £1000.00, Overpayment of £10368.34, Balance of -£540.10
Feb-16 - Deposit of £1000.00, Balance of £459.90
Mar-16 - Deposit of £1000.00, Balance of £1459.90
Apr-16 - Deposit of £1000.00, Balance of £2459.90
May-16 - Deposit of £1000.00, Balance of £3459.90
Jun-16 - Deposit of £1000.00, Balance of £4459.90
Jul-16 - Deposit of £1000.00, Balance of £5459.90
Aug-16 - Deposit of £1000.00, Balance of £6459.90
Sep-16 - Deposit of £1000.00, Balance of £7459.90
Oct-16 - Deposit of £1000.00, Balance of £8459.90
Nov-16 - Deposit of £1000.00, Balance of £9459.90
Dec-16 - Deposit of £1000.00, Balance of £10459.90
Jan-17 - Deposit of £1000.00, Overpayment of £7594.38, Balance of £3865.52
Feb-17 - Deposit of £1000.00, Balance of £4865.52
Mar-17 - Deposit of £1000.00, Balance of £5865.52
Apr-17 - Deposit of £1000.00, Balance of £6865.52
May-17 - Deposit of £1000.00, Balance of £7865.52
Jun-17 - Deposit of £1000.00, Balance of £8865.52
Jul-17 - Deposit of £1000.00, Balance of £9865.52
Aug-17 - Deposit of £1000.00, Balance of £10865.52
Sep-17 - Deposit of £1000.00, Balance of £11865.52
Oct-17 - Deposit of £1000.00, Balance of £12865.52
Nov-17 - Deposit of £1000.00, Balance of £13865.52
Dec-17 - Deposit of £1000.00, Balance of £14865.52
Jan-18 - Deposit of £1000.00, Overpayment of £5021.43, Balance of £10844.09
Feb-18 - Deposit of £1000.00, Balance of £11844.09
Mar-18 - Deposit of £1000.00, Balance of £12844.09
Apr-18 - Deposit of £1000.00, Balance of £13844.09
May-18 - Deposit of £1000.00, Balance of £14844.09
Jun-18 - Deposit of £1000.00, Balance of £15844.09
Jul-18 - Deposit of £1000.00, Balance of £16844.09
Aug-18 - Deposit of £1000.00, Balance of £17844.09
Sep-18 - Deposit of £1000.00, Balance of £18844.09
Oct-18 - Deposit of £1000.00, Balance of £19844.09
Nov-18 - Deposit of £1000.00, Balance of £20844.09
Dec-18 - Deposit of £1000.00, Balance of £21844.09
Jan-19 - Deposit of £1000.00, Overpayment of £2634.92, Balance of £20209.17
Feb-19 - Deposit of £1000.00, Balance of £21209.17
Mar-19 - Deposit of £1000.00, Balance of £22209.17
Apr-19 - Deposit of £1000.00, Overpayment of £22272.93, Balance of -£63.76

cb4fwh

Another month, and another overpayment. I have almost broken the £180,000 barrier (my mortgage balance is £180,617.00) which is pretty satisfying!

cb4fwh

Finally broken the £180,000 barrier! I remain on target for circa £170,000 by year end!

MallyGirl

congratulations - you certainly seem to have it all planned out

cb4fwh

Thanks, my job is Business Analyst so I like to plan things out in as low a level of detail as possible.