2014 mfw

rockabelle

No overpayment from me yet for this month, but my monthly payment has gone today and we've broken through a milestone - mortgage is now less than £200k! (Albeit only just!) Feels a whole load better to owe only :rotfl:£199k.....


But, what it does mean, is that we're now paying less than £11 interest a day (as opposed to £18 when we started 3 years ago), term of the mortgage is down to 14 years (from 25), and the amount of capital we pay off as part of the monthly payment is £250 more than it was when we started. It also means, that if interest rates stay the same and we don't make any more overpayments (I need a pig flying emoticon for both parts of that!), our total interest payment will be £46,101, as opposed to the initially predicted £94,303, which is awesome!:beer: I love reminding myself just how much difference every overpayment makes, and that they all add up!

BlueDaisy

No 60 reporting in.

Managed to overpay another £280 in June

mummytummy

Number 91 reporting in that she will have to bow out of this challenge as unable to secure a UK mortgage due to living overseas (temporarily) believe me we have tried everything but have been told we will get one on our return and receiving UK income. Oh well, we will just keep saving and have a very large deposit when we do or the ability to pay cash :rotfl:

Time_to_face_the_music

Number 135 reporting in to tell you all that the endowment payment is in the bank, the savings have been transferred and ......

:j:j We are about to become mortgage free :j:j

I never thought we would get there and can't believe how good this feels and I just need to say thank you so much for the support and encouragement on this thread. :iloveyou:

TTFTM x

icontinuetodream

Time_to_face_the_music wrote: »

Number 135 reporting in to tell you all that the endowment payment is in the bank, the savings have been transferred and ......

:j:j We are about to become mortgage free :j:j

I never thought we would get there and can't believe how good this feels and I just need to say thank you so much for the support and encouragement on this thread. :iloveyou:

TTFTM x

woohoo!!!:j:j:jthat's excellent news :T:T:T Congratulations!!:D:D:D

No. 92 reporting £690 so far for July...hopefully considerably more towards the end of the month!!;)

Crumpets

Hi JCL, #40 reporting my first OP of July of £286.20 :beer:

Crumpets

Habibiboo

:wave:
Finally got paid for a big job (if you'll pardon the expression) so I've put it where it can't be spent ... straight into the mortgage! So another cheeky MOP of £1,250 for July please!
#69
Many thanks JCL! x

kitjos

Congrats TTFTM!!


Now enjoy the mortgage free life xxx

JCL

Congratulations Time to face the Music! Very well done!

For the rest of us - we're making great progress but overall at the halfway stage we're behind where we should be. Collectively we signed up to overpay by just over £900,000 this year. So far we've overpaid £337,281 so we'll need to push on in the second half to reach that target for the year!

We have 32 people who signed up to MFW but haven't made an overpayment yet this year - hope you can join us in the second half.

This week's update has been done - as always the links to the spreadsheet can be found in the first post. Please let me know if you have any queries.

Thanks!

Southernman

So I've put away

£120 for June
£120 for July

Hope to do a lump amount in August as holidays will be over by then and I can reassess finances