2013 mfw

Spiggle

Congratulations everyone on the great OPs made last month and this, you're all brilliant! And thanks to VoucherMan for keeping everything updated.

kandfs_mam wrote: »

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Sorry I have been MIA for a wee while. Well after the trauma of going through redundancy consultation and finally coming through the other side and finding out before Xmas that I had a job, I have now found out that I am very unexpectedly pregnant with our 3rd child. ...

Wow!!! Congratulations kandfs mam!!! :j Can I presume we'll have a name change then?!?!? :rotfl:

exarmydreamer wrote: »

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Due to personal circumstances, I'm going to leave the forum. So please could you delete me from the MFW13 challenge, my number is #12.
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I thank you voucherman and spiggle for your support over the last year. Thank you.:)

Really sorry to see you leave exarmydreamer and wish you all the very best for your future, you are very welcome to come back if your circumstances change. Take care.

NPowerUser wrote: »

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A) Keeping existing mortgage payments the same, therefore reducing the mortgage term
or
Choosing to have your existing monthly payments reduced
...

I'm with the majority on this NPowerUser and go with A. I pay both the required and the OP by standing order rather than direct debit and so I control the amount per month rather than the provider adjusting every year. This is an effective term reduction but there is no way in the world I would formally reduce my term. Sod's law seems to operate here and I can guarantee that something would go wrong if I was required to make higher monthly payments!

You are doing brilliantly LavenderBees! Keep up the excellent work and try to ignore the annoying employment issues. Once it's paid off then you'll have the freedom to choose where you want to be.

I've popped my first Feb OP onto the spreadsheet and the regular saving (informally offset against mortgage) will go out on Monday so will update again then.

Very disappointed that first direct have apparently pulled the 8% (before tax) regular saver account. There is a whisper on the thread that something will return in March but I would think the rate will be much reduced. And there is the question of whether we'll even have an 'ISA season' this year. All savings rates are appalling at the moment.

Ah well, on with reducing the mortgage then ...

All the best,
Spigs

kirstypark

another £200 please from son paying some rent

no 7, thanks:beer:

endoftherainbow

I'm becoming almost as obsessed with reading the posts on this thread as I am about paying off my mortgage lol. It's really encouraging to read about everyone's progress, no matter how big or small - well done all

I'm still waiting for my latest statement, it always seems to take forever to come through and I'm excited to see how much I paid off last year. I do mess about with spreadsheets, but love the final confirmation of the annual statement.

I'm aiming to reduce the term. The sooner I clear it the better.

Barny1979

OP of £25.50 made from a blu-ray sale and my £18.00 alcohol free weekend.

Dithering_Dormouse

Hello All

No 52 reporting my latest overpayment of £375 so far for February. More will be paid in later in the month.

As for Option A or B - I'm an Option B through general laziness. No matter how hard I try to make overpayments, the revised payment schedule each year only seems to go down by about £7 a month and it hardly seems worth it to contact the bank and put the payments up by £7.

I also used to get funny looks when I made an overpayment at the bank. Now I have a standing order for a regular overpayment of £275 each month and am trying to put another 'overpayment' of £375 into my ISA. This way, if I desperately need the money I can use it.

lighthousescotland

Barney you are an inspiration. I think I am needing cake and chocolate free weekends!

icklehelen

A quick post to report a £250 OP so far for Feb

ickle

Caeraugirl

Hi
Have just managed to offset another £200 from ebay sales - can you please add it to my total #111. Have well and truly caught the bug.............. Thanks

VoucherMan

A few to add as I never got around to updating on Friday.

Caeraugirl I've added your January op along with two for February.

Also further ops from UnionGirl, mortgage destroyer, kirstypark, Dithering Dormouse, icklehelen and two from Barny1979

moomi

Hi everyone, can I ask about the calculators that are knocking around? Is there a way of saying I want to pay off by age ??? And then it tells ou how much you will need to overpay?