MFW starting young.

Sdav

LauraJo wrote: »

Ah - we just chucked it onto the next mortgage. You would have to work out if the pay back would be worthwhile taking into account what you bel the interest rates will do (i.e. if they went back up again next year you probably wouldn't make your money back)

Thanks for your help with the matter ill have to sit down when I'm home from work and work out all the figures.

Dav.

Mc_Marty

Hi Sdav,

Just seen this thread and have subscribed to it so that i can watch your progress.

Well done on getting yourself into a great way of thinking at such an early part of your life. It's quite something when the moment comes that you realise you could be MF years earlier than expected and pay back £0000's less in interest to the banks. A good feeling.

Our situations are similar. I became a MFW in Dec 2010 with a repayment mortgage of 116k but due to the the credit crunch had to take a high interest rate (5yr fixed at 5.84% ending 2014). My MFW diary is: https://forums.moneysavingexpert.com/discussion/3484329

Look forward to hearing your progress, good luck.

newgirly

Hi , just wanted to pop in and and say welcome. I am another one who believes in small overpayments too, it helps keep you motivated during those months when its a struggle to make bigger op's.

Sdav

Mc_Marty wrote: »

Hi Sdav,

Just seen this thread and have subscribed to it so that i can watch your progress.

Well done on getting yourself into a great way of thinking at such an early part of your life. It's quite something when the moment comes that you realise you could be MF years earlier than expected and pay back £0000's less in interest to the banks. A good feeling.

Our situations are similar. I became a MFW in Dec 2010 with a repayment mortgage of 116k but due to the the credit crunch had to take a high interest rate (5yr fixed at 5.84% ending 2014). My MFW diary is: https://forums.moneysavingexpert.com/discussion/3484329

Look forward to hearing your progress, good luck.

Thank you for your comment I shall take a look at your thread its nice to see people in similar positions, thanks again

Dav.

newgirly wrote: »

Hi , just wanted to pop in and and say welcome. I am another one who believes in small overpayments too, it helps keep you motivated during those months when its a struggle to make bigger op's.

Hi newgirly I'm getting into the mind set that any overpayment is a good overpayment I'm looking forward to walking into the bank to make my first overpayment when I get home from work next week

Sdav

Hey guys/gals just thought I'd give some information regarding to myself, if some of you are going to follow my path to becoming MFW then I thought I'd post some stuff to keep you in the know, I've said a few posts ago I can wait to make my first overpayment when I get home from work.
I say home from work but not as in a 9-5 sense, I work away for 2 weeks at a time and get 4 weeks at home, I've currently got 1 week left I get home on the 24th of this month.

So I'm counting down the time till I actually get back in the UK so I can go walk into the bank and make that first overpayment, and see the balance move on the dreaded mortgage.

I thought I best let my new found MFW support buddies know where i'am and what I do because I didn't want you all thinking well this is a boring MFW thread, when I get home I'll be posting daily about my activities and what I'm doing to pay my mortgage off, I'll talk about meal planning and the rest of the tips I'm currently picking up from you kind people. And when the activity stops you'll all know away at work again (I'll more then likely post about it anyway) anyway I've waffled a lot and I don't even know if anyone will get this far. If you do here this is for you :beer: :bdaycake: enjoy.

Regards
Dav.

edinburgher

Mhhh - beercake

dawyldthing

you can do the overpayments online too. you just need your sort code and acc number and include your roll number too. I don't know who its with but mines with the Halifax and if you do go over your overpayment you end up paying 3%, but it will still save overall and bring the balance down too

Southernman

You're the same age as me and i got my first mortgage just before i turned 22.

I started overpaying £50pm six months after i got my mortgage...it's slowly crept up now to £120 and i throw money at it during bonus months and any other spare cash i may have. I have overpaid by 90p before so Tilly isn't the only one!!

In two years i've reduced my mortgage by about £11k so it makes a huge dint for money i don't even notice!

I started at £90k on a sole mortgage and it's at £79k now which just makes me smile that things are working out!! You get a true buzz watching it go down. Mine is also Natwest and i have a payee known as 'natwest mortgage' and i just transfer through my Iphone app each month.

Sdav

edinburgher wrote: »

Mhhh - beercake

:rotfl:

Southernman wrote: »

You're the same age as me and i got my first mortgage just before i turned 22.

I started overpaying £50pm six months after i got my mortgage...it's slowly crept up now to £120 and i throw money at it during bonus months and any other spare cash i may have. I have overpaid by 90p before so Tilly isn't the only one!!

In two years i've reduced my mortgage by about £11k so it makes a huge dint for money i don't even notice!

I started at £90k on a sole mortgage and it's at £79k now which just makes me smile that things are working out!! You get a true buzz watching it go down. Mine is also Natwest and i have a payee known as 'natwest mortgage' and i just transfer through my Iphone app each month.

That's cool southernman how did you set up the mortgage payment for the app I use the app all the time but didn't know you could overpay your mortgage through it. D you have a MFW thread on here so I can follow your progress?

Cheers for the info
Dav.

Sdav

Hi guys a little help from you kind people, does anyone know the cheapest place to buy these Sony MDR-AS51G ( http://www.t3.com/features/best-headphones-for-running ) I've found them at £30 but just wanted to see if anyone knew any sites that would have them cheaper? Or anyway to get cash back or anything like that?

Cheers dav