2015 mfw

easylife73

#112 £5 op

Wombatchops

engineer_amy wrote: »

#79 with a £10 OP for july.


Totally unintended, was testing a different way to make a payment from my bank to the mortgage account. My mortgage bank told me the only way to make online OP to the mortgage account was to send the payment to a generic account, with the description being my mortgage number and surname. Fine, but this takes approx. 3 days for them to allocate to my account, show up on my online transactions and me losing out on the interest reduction (albeit tiny amounts). Decide to do a test to see if I could send the payment directly using my account number, and lo and behold it appears on my online statement within 10 minutes!

Hi engineer any, even though it takes your mortgage provider several days to apply your overpayment to your mortgage if you send the funds to a generic account, they might still backdate the interest to the date that they received the funds. If I were you, I'd contact them and check. I used to work for a bank (I have since seen the error of my ways), and although I never worked in mortgages, I suspect that they would have to backdate the interest to the date of receipt or they may fall foul of the FCA's Treating Customers Fairly (known in the banking industry as TCF) rules. If you quote all of that they might think you know your stuff and take you more seriously. HTH.

Wombatchops

#47, here. Lomcevak, yes please can you increase my target this year up to £2,000. I reckon I can squeeze in another £500 overpayment between now and New Year's Eve.

engineer_amy

Wombatchops wrote: »

Hi engineer any, even though it takes your mortgage provider several days to apply your overpayment to your mortgage if you send the funds to a generic account, they might still backdate the interest to the date that they received the funds. If I were you, I'd contact them and check. I used to work for a bank (I have since seen the error of my ways), and although I never worked in mortgages, I suspect that they would have to backdate the interest to the date of receipt or they may fall foul of the FCA's Treating Customers Fairly (known in the banking industry as TCF) rules. If you quote all of that they might think you know your stuff and take you more seriously. HTH.

Thanks for that wombat chops. But what worried me more was the time it took to show the payment online. I was constantly checking the account details until it appeared, thinking I had sent my hard earned cash into a black hole and losing it! Now I do it directly, it appears in 10-15 mins. Such a relief

Lomcevak

Spreadsheet updated, well done everyone - very motivating to see all the OPs going in. Happy to say we're now above £410k and at this rate it's not long to the half-mil'

twistedhazel - is the £185 for June in addition to the £848 that I already have down for you? so £1033 total?

clarew

Nearly forgot to add my update...sticking to the new upper OP I started since taking on this challenge. It's hard but the thought of finishing it in 10yrs is motivating.

So #5 reporting in for July with£256 op
Thanks lomcevak

girl_afraid

#82 overpayment of £50 for July, thanks Lomcevak

Marie27lol

Howdi All,

I don't believe it, I have reached my target of £3k

Look we have an OP of £100 / mth, so to make it £3.5k is a bit easy, but £4k ... and we have some massive expenses ahead of us....

Go on then, lets make it £3,800 then... Either way, we have done it :P

Oh dear what a challenge I have set us - and he doesn't know yet!
M

Maybe_its_because

#10 reporting a July OP of £500

Doubt there'll be anymore scraping through the OP sheet of the spreadsheet, it's turning into an expensive month. Need to focus on some serious NSDing. Will try to be hopeful tho, even if it's just another couple of quid.

Well done to all those reaching and revising their target - that's a nice position to be in

Happy Monday everyone and, as usual, big thanks to Lomcevak

MIB xx

runninglea

Hi number 55 reporting in with £1700 for June and £1700 for July

Sorry for late update - am behind so far this year but will try and catch up