Back to basics with pavlovs_dog: the £6k sprint

pavlovs_dog

1% Challenge - the little things make a difference

January Total = £178
£10 Gumtree, £66 P!necone,£50 Swagbucks + £2 Christmas scratchcard win, £50 account tidy

February Total = £157
£25 SB,£132 council tax free month

March Total = £282.49
£132 council tax free month,£15 Swagbucks, £75.49 - credit from closing BG account, £60 account tidy

April Total = £200.00
£98.07 credit from closing BG account #2, £4.64 credit from BT account, £25 SBs, £20 Tilly Tidy, £40.24 from Quidco, £12.05 account tidy

May total = £85
£60 TT, £25 Swagbucks

June total = £140
£140 revision session, £7.51 to finish 1% challenege #1,
.......................................................
£25 SB, £25 FD reward payment

July total = £41.03
£25 SB, £10.79 Quidco, £5.24 Music Magpie

August total = £100.00
£25 SB, £20 P!necone, £40 refund from solicitors,£25 to make it a round £100

September total = £145.00
(I've lost my notes so can't remember how this broke down )

October total = £205.00
£80 tutoring, £25 SBs, £11.18 Tesco interest, £3.82 to round it up, £25 SB, £60 Account tidy

November total = £379.17
£60 tutoring, £18 P!necone, £15.08 Te$co Interest, £286.09 backdated pay uplift

December total = £239.00
£25 SB, £11.18 Te$co interest, £142.46 TLR, £60 tutoring

Current Cumulative total #2 = £1159.20/£1000


Our cumulative OPs for the year stand as follows

MFW 2016 OP
January £610.03
February £567.03
March £659.52
April £ 610.03
May £495.03
June £607.54
July £451.06
August £510.03
September £ 555.03
October £615.03
November £789.20
December £649.03

Cumulative total = £7118.56/ £6000 (118%)


None too shabby, even if I do say so myself!

pavlovs_dog

As our account balance was looking unusually healthy I made an extra OP of £235, bringing December's OP total to a whopping £884.03. Our OP total for the year stands at £7353.56.

We've reduced our balance by just shy of £11k this year. When our December payment credits tomorrow our mortgage will stand at £93,353.02

Onwards and downwards in 2017!

smallholdingsister

Well done. Great effort!

pavlovs_dog

Hello long lost friends. Real life is very busy and stops me from posting or reading with the frequency I would like, but as I have just received our annual mortgage statement I thought I would update the old thread with our progress.

In the second year on our FD mortgage, we have paid £13, 338.14. This breaks down as follows

Interest £2705.69 (20%, down from 25% in year1)
capital repayments £3317.95 (25%, as per last year)
OPs £7314.90 (55%, up 5%)

According to the data produced by the MSE mortgage calculator, we have shaved just over 4 years off of the 25 year term.

When our August payment clears it should drop us out of the £87ks for good. Onwards and downwards :j

Silence101

Well done! That's a substantial overpayment you've managed to do! Next year you will be out of the 80s at this rate!