2013 mfw

evi3000

Forgot to add a payment of 380 for January as I'm including all payments. February's payment will take a little longer to calculate as it should be quite large so will update that in the next week or so.
Thanks,
evi3000 #47

Barny1979

OP of £39 made today from ebay sales.

NPowerUser

#86 reporting £500 overpaid today.

Tastier than a whopper from Burger King or a value burger from Tesco is an over payment off your mortgage.

Still on target to pay down my mortgage this year, although I think I might revert to fortnightly over payments of £500 from now on, I will try my very best.

Although my signature has an out of date revised mortgage total, in a weeks time once today's regular mortgage payment is taken into account, I am pleased to be part of the sub £15K owing mortgage club.

Good luck everyone in your journey to be MF, regardless of how small your over payment.

Jackies

First payment made today £525! We're aiming for £6000 a year which is £500 a month. I'm so happy that for January (but paid in feb lol) we've beat our target!

house_help

#87 £500 OP for February

OS_QS

Checking in for February. This months standing order overpayment came out for £842 :T hope its sustainable and will be looking for ways to add to this across the month......waiting for some £co payouts :cool:

uzubairu

No: 19.
February overpayment:- £850.

Mortgage is now down to 4 figures.

NPowerUser

Just out of interest fellow MFW, when making your over payments, are you subsequently

A) Keeping existing mortgage payments the same, therefore reducing the mortgage term

or

Choosing to have your existing monthly payments reduced

Mine is A, is everyone else doing the same?

toerag33

Keeping the payments the same and shortening the length of time the mortgage has to run so I can keep the over payments up. I am on a fixed rate until next year when my interest rate goes up. My mortgage was to originally run until I was 70 yrs old!!!! The time is now halved. Being here has given me the confidence to overpay bigger amounts and the little amounts - 'Tilly tidies' - and I do feel they have made an enormous difference.

Outside of this forum there seems to be be little encouragement or enthusiasm shown by others to rid this 'debt'. I feel quite consumed by it!!!!!

My other mortgage is interest only so all now gets thrown at to increase my ltv when I need to remortgage in 6 years time.

Kind regards

toerag33

OS_QS

I'm option A also, however can draw back overpayments at anytime, so not officially reducing the term. not committing to term reduction in case we ever need the money again. Even at 2.5% its better than most savings rates!