2015 mfw

Southernman

Overpayment for June £140 #26

I have got my boyfriend to start overpaying his mortgage. He's only 7 months into a 25 year term and has so far done a lump sum of £1000. Going forward he's going to overpay £200 a month and knock 10 years off his mortgage (assuming rates don't change) - he was shocked by how effective overpaying is!

I've been doing it myself for the last 4 years and I'm so glad I started early!

Upsy_Staffordshire

JCL wrote: »

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.

Big congratulations JCL! :j

#86 reporting an OP of £25, taking my total for June so far to £321. Thank you

Wombatchops

Congratulations JCL, that's brilliant. I am also very jealous. Are you "feeling epic" and strutting around the place like a particular TV advert? I would be.

After reaching my targets for overpayments last week, I got a letter from our mortgage provider today. The mortgage was originally for 28 years and was taken out at the beginning of February 2014. However, after last year's and this year's overpayments, a mortgage that was originally due to end in February 2042 is now due to end in February 2041.

The goal is to have it paid off by August 2028, which would be the month before my eldest would be starting university, should she choose to go. So, one year destroyed, another 13 years to go.

utopiah

No:43 op for June £1050:j

Lomcevak

Sorry for lack of update, extremely busy couple of weeks mostly on the road

Will try my best to update next week

shangaijimmy

Congrats JCL. So envious!

Also great thread, love reading everyone's accounts of payments, small, medium and large! We're collectively hitting those banks :j

Wirenth

Hi Lomcevak,

MFW #11 checking in with £702 June OP. Happy Moneysaving everyone!:beer:

ourcornercottage

#9 with a much more respectable £413.06 for June. Might have an odd £ or 2 to add but I think this will be it.

Thanks Loncevak for the hard work you do updating the spreadsheet

kitjos

Lomcevak wrote: »

Sorry for lack of update, extremely busy couple of weeks mostly on the road

Will try my best to update next week

Hope you are well - very busy time for you it seems! x




Another June OP for me (#104) of £250 - takes June total to £3750 xx

JCL

PrincessLou wrote: »

Wow - amazing, JCL!!! :j:j:j

How much do you need to save for your dream house?

Thanks to everyone for all your kind comments. It's not quite sunk in yet that we are mortgage free! Will be weird to have no debt payments going out (for now at least).

We haven't decided on a target yet as open to different locations. We will save as much as we can to keep any future debt to a minimum. Ideally we would save up and pay cash but all being well family plans will mean we need to move sooner.

Thanks again to all and keep going!