2013 mfw

kirstypark

morning, I overpaid £200 today to get my total down to under £55k - just!:beer:

NPowerUser

No over payment to report but the annual mortgage statement arrived today.

Thanks in part to this thread and others in the MFW forum, my monthly interest payments went from £118.53 a month to £75.79 a month during 2012.

Approx £10 a week better off in interest payments, what a lovely feeling.

Isn't it lovely depriving banks of making money off your hard work.

Keep up the good work everyone.

everach

First log in for the year, first over payment of many as of yesterday £35.

pammyj74

No 26 signing in, another OP of £100 this month.

moomi

Is it better to make monthly overpayments or save up the amount & make one or two larger payments? My interest is charged daily-how oes that make a difference please?(if at all)

LavenderBees

moomi wrote: »

Is it better to make monthly overpayments or save up the amount & make one or two larger payments? My interest is charged daily-how oes that make a difference please?(if at all)

I understand that if you are being charged daily, you should pay off as much as you can as early as you can. That's what I understand, and that's what I apply to my overpayments...hope I'm right. I'm sure someone will shout to correct me if I'm wrong

moomi

Thank you lavender bees, that made sense to me but I wasn't 100% sure!

moomi

Ooh you aren't far from me! I'm in a town outside of s/land. Love it in Northumberland, when we move from here that's where we want to be.

LavenderBees

moomi wrote: »

Ooh you aren't far from me! I'm in a town outside of s/land. Love it in Northumberland, when we move from here that's where we want to be.

Do you want to buy a slightly tatty, almost 100% owned outright house? :rotfl:

moomi

Haha! Where are you?

We'd lovvvvveee to be north Northumberland, ideally between Bamburgh & holy island on the left hand side of the a1, villages like fenwick steady, an croft? I think. With beautiful countryside but also fab sea views