2013 mfw

Tony_R

Hi All,

The monthly OP for September has been made, £702 again.

fluffysox

Made an overpayment of £560 today. Will top this up a bit before the month is out so that I reach £9000. After that I'm not sure how much we'll OP. I'm on maternity leave now so income will drop next month. Christmas is on its way. New baby of course and having a few minor bits done round house and garden. However I am happy to reach £9000 despite a few obstacles. And I'm sure I'll OP a bit more before the year ends as lets be honest I'm an OP addict and even a few pounds here and there will soothe the itch lol.

Congratulations JCL

stewby

hi there.

i am a bit like the poor relation here as currently my op target is pretty small.


i hope i am doing this right. (i have pm'd voucherman as well).

i am starting my new job in october (have been dealing with stress and "low moods" for a while) and have taken this opportunity to start fresh. i will be working full-time and call me crazy... but now that i have realised that i am going to be 30 in a few months, i have suddenly decided i need to step up and be financially responsible.
:shocked:

i have told voucherman i am starting on 1st october, but will probably be 1st november as i obviously won't get paid my full wage until the end of october.

anyways... sorry, i have gotten distracted. sorry.


i currently pay £341.10 each month on my mortgage (this might change in october when i get my annual statement). my plan is to round it up to £400 a month. this will be a monthly overpayment of £58.90. not massive i know, but hopefully when my partner gets a job we will be able to pay a bit more.


now, i have a wee question:
* how do i know if there is a cap on how much i can over pay?? i am with the woolw**h but they were taken over by barc**ys. it is still classed as the woolw""h though. my dad seems to think it is normally about 20% but i can't find anything anywhere to tell me this. (i am a wee bit daft so i might have missed information).

i hope this makes sense.... and fingers crossed it all goes to plan.

LavenderBees

Stewby

Firstly, welcome to the thread :j

If there's nothing in your terms and conditions paperwork, ring the Woolwich and ask them. Don't assume that there isn't a restriction, and don t listen to guesses...many mortgages (inc mine) have a 10% restriction or don't allow overpayments. Just give your mortgage holder a ring before you set up the overpayment.

If you aren't allowed to overpay, simply pay your extra into a savings account, KEEP YOUR HANDS OFF IT , and overpay when you can without being charged for it.

LB xx

stewby

thanks very much for the advice. i was a bit reluctant to phone them as it is an 0800 number and i am using a mobile. (i will nip up to my mum's and use her landline).

it doesn't say anything on my mortgage agreement about overpaying and i can't find anything on their website about it, surely they would have something somewhere if it is not allowed. or would it be something they would hide??

i was sorry to hear about your horrible year so far lavenderbees. i hope everything is improving for you and your mum. thank you for the welcome. it has put me at ease a bit. (i was a bit worried after seeing everyone overpaying by 100's of pounds every month).


i am hoping i can manage to start overpaying just so i can use the :j smilie. he is so cute.

LavenderBees

stewby wrote: »

thanks very much for the advice. i was a bit reluctant to phone them as it is an 0800 number and i am using a mobile. (i will nip up to my mum's and use her landline).

it doesn't say anything on my mortgage agreement about overpaying and i can't find anything on their website about it, surely they would have something somewhere if it is not allowed. or would it be something they would hide??

i was sorry to hear about your horrible year so far lavenderbees. i hope everything is improving for you and your mum. thank you for the welcome. it has put me at ease a bit. (i was a bit worried after seeing everyone overpaying by 100's of pounds every month).


i am hoping i can manage to start overpaying just so i can use the :j smilie. he is so cute.

This is one of the friendliest threads in one of the friendliest forums, so don't be anxious about taking part. We're all here to encourage each other to achieve what sees to be impossible but actually isn't - paying the mortgage off early.

Thank you for your good wishes. I'm mostly ok...wobble sometimes...and Mam...well, she asked me where Dad was the other day (as she recognised me on this visit), and I said "resting" , and she said "oh good, not dead then"...

:eek:

I must admit, I had a little chuckle as, whilst alzheimers is one of the most awful illnesses I have ever witnessed, it does have its benefits of shielding the sufferer from the realities of life.

Good luck with your phone call. Hopefully, you'll find that they just don't want to put info about overpayments into the contract as they don't want to encorage people to get rid of their debt quickly...

Just call me cynical...:rotfl:

Sundaysgirl

Welcome Stewby :hello:

The prospect of turning 30 was enough to spur me into action too!

It doesn't matter how much or little you OP, the important thing is that you are OP'ing! Every little helps - if you use the mortgage calculator you'll be able to see just how much of a difference a consistent £50 or so each month will make, it's a great motivator.

Good luck!

stewby

hi there. thanks for the very warm welcome.


lavenderbees... my granny had a hip op a few years ago (forgot she couldn't walk and tried to get out of her wheelchair and broke her hip). it was awful as she kept asking my mum about my granda (who had died about 12 years before). it realy affected my mum and upset her a lot and she needed a lot of support. (she hadn't realised how "bad" granny's dementia was until then). i hope you have a good support system at home to help you. although it sounds like you have from your posts. it is always nice when your relative has a little "flash" of memory.
*hugs*

on topic news: i spoke to woolwich (simon) and he was actually really helpful. i can make unlimited repayments by either direct debit or standing order. there is no cap. it can be one-offs and/or monthlys.
judging by the overpayment calculator, i can save 2 years off my mortgage and roughly 700 - 1000 pounds in interest. (depending on if i put the percentage or the cost of payments). that's brilliant.
:j

i am going to start small as i have quite a bit of other debts as well. i owe my parents, a credit card and i have a loan too. i also want to start saving for home improvements in the future. i have no contingency fund which is a bit scary. (i suppose the old me would have classed my parents as the contingency fund).

thank goodness sundays girl. i am so glad that turning 30 made you want to become financially responsible too. i was beginning to think it might have been a midlife crisis or something cause my finances have never been a concern of mine. (they have driven my dad batty though but he is doing amazingly well considering i am normally broke by the 10th of the month).


thanks for the support. i am feeling really positive about this.... and i may be following in other's footsteps as i am becoming a bit addicted to this forum. currently reading "lots more sneaky ways to save money". it's a very interesting thread. hopefully we can save some more pennies to put into our savings or something.


oh... one thing i do have in my favour is an obsession with collecting 10 pence pieces. we have about £120 in ten pences but i want to wait until we have completely filled the bottle (or the government puts a shortage announcment) before getting rid of them.
:rotfl:

lulabelle1

Just had a look on the chart and noticed that we've OP'd £775k so far between 140 ish of us - how amazing is that!!!!

VoucherMan

lulabelle1 wrote: »

Just had a look on the chart and noticed that we've OP'd £775k so far between 140 ish of us - how amazing is that!!!!

We'll have no slacking though. Going for the £1,000,000 this year after falling just short last year.:D