2015 mfw

Wombatchops

#47 here. After discussing it with my DH, we have decided to make another OP. Overpayments for June are now £1,000, which takes me to my target for the year. Hopefully I can squeeze in another overpayment later on in the year.

takethemon

hi. I am only browsing and have come in on the last page.
is everyone who is overpaying on their mortgage certain that the interest rate charged stops on that portion of overpayment immediately?
I overpaid regularly with Abbey National years ago.
it was only later that I found out the interest was calculated a year in advance, jan to dec.
my overpayments were taken into account in calculating the interest for the next year beginning in January.
I would have been better saving the extra with them then paying it off in one go in the December.
with interest rates being so derisory now that option wouldnt save much.

Upsy_Staffordshire

#86 here to report an OP of £50, which takes my total for June so far to £296. Thank you

JCL

takethemon wrote: »

is everyone who is overpaying on their mortgage certain that the interest rate charged stops on that portion of overpayment immediately?.

Yes, my mortgage interest is calculated daily. Most modern mortgages should be the same but it's a good reminder to confirm with your provider or check your paperwork to make sure you know what your mortgage uses.

If you're on annual interest calculations then best to save your overpayments somewhere to get a bit of interest growth and overpay closer to the calculation date.

girl_afraid

#82 overpayment for June of £75.00, thanks Lomcevak

kitjos

Hi Lomcevak - hope your travels going ok; couldn't imagine flying that often


Another OP for me (#104) of £500. Makes June total £1700.


Many thanks x

muddywhitechicken

Apologies for the lack of updates Lomcevak.

I've made the following OPs this year:

February = £2,000
March = £1,300
April = £3,500
May = £1,750
June = £1,400

Many thanks,
MWC
No. 23

Newme2014

Can't remember where I'm up to on here so

#48 goal still £5000
March £60.89
April £100
May nothing
June £563.00

Total £723.89

LurkinGerkin

#84 Sorry for being late. May overpayment of £400 please.

Ta very much

LG

JCL

Final payment of £3,065 made which means we have paid off our mortgage! Absolutely delighted! Now to pile up cash to get our dream house.


Revised final total target reached for 2015 was £20,515. Thanks Lomcevak.