Pammy's 5 Year MF Challenge - New Year New Target

yukkibear

Happy new year x

Radish72

Happy New Year Pammy

I do so love your house, make my 100 piece jigsaw look boring

Here's to smashing your target

And well done for already OPing this year :T

Brodiebobs

wow amazing figures and graphs as ever!! good luck (not that you'll need it!)

pammyj74

Have Op'd another £100 today and saved £31.88 in interest. Need another £100 to knock another month off the term.

Have DS2 birthday party to book for beg Feb and my eldest 18th in March arrghhh and its my nephews first birthday next Sunday too.

Brodiebobs

Feb is a nightmare month for me too, mine and DD's birthday, wedding anniversary and 2 family birthdays. As well as that my best mates babies due and have an overnight trip for DD to pay for. Just means I have to be mean in Jan!

shala_moo

Hi Pammy.. just wanted to pop by and say good luck with your plans to pay off the mortgage in 5 years!

pawlala

I love the graphic house!

gerbiljo

hey pammy I have just discovered this! wow 5 years I'm sure this will be very achievable for you! wishing you luck with your challenge loving the house and the graph!! keep up the good work!

greent

Hi Pammy - only discovered this new diary yesterday (doh!!) Good luck with your challenge - my current mf date (assuming no interest rate rises!!) is March 2017 - so a similar time frame. I want to get it down to July 2016, though!!

Shall be following your progress - although intermittently, no doubt - I'm a bit useless at times!!!

pammyj74

A lot of bumph for me to keep track of how its slowly going down

so figures for 2012 so far below:

Total Actual payments: Jan, £1,196 Feb; £1146 (Total = £2442)

Original scheduled payments: Jan, £696; Feb; £696 (Total = £1392)

Payments over/above original schedule: Jan, £600 Feb; £450 (Total= £1050)

Interest saved according to my SS: Jan, £193.77; Feb, £139.72 (Total=£333.49)

Some comparisons from 12 months ago to today.

Interest per day: Jan 2011, £6.84 - Jan 2012, £5.55; Feb £5.49

Interest per month: Jan 2011, £212 - Jan 2012, £170; Feb £166

Mortgage balance: Jan 2011 £70,425 - Jan 2012, £57,323; Feb £56243

% of mortgage now paid off: Jan 2011 21.75% - Jan 2012 36%; Feb 37.5%

LTV - Jan 2011, 64% - Jan 2012, 52.11%; Feb, 51.13% (based on £110k value)

Months shaved off in 2012 - 1 month

Months left to pay - 7 years 8 months (92 payments) as of Feb

Extra Outgoings Jan/Feb
Paid off Holiday caravan* £300.00
DS's Party £95.00
Cub Fees £46.00
Drama show tickets £16.00
Flat tyre replacement £20.00
Drama fees £10.00
Half Term Holiday club* £70.00
MOT/Service* £237.00
total £794.00!!!

*£630 put aside for these luckily


Things still to pay for

DDs school trip £260
DS school trip £130
Kids drama trip to London to star at the EXPO £50

total £440

I need to plant more money trees!!!!

Have been putting the heating on more and more so that next bill will be huge!
Nice to have the council tax break this month and next. that has gone straight on the mortgage.

DS2 9th birthday tomorrow and we have a party at Lazermaze. DS1s 18th next month too so that wont be cheap!