2018 Mortgage-Free Wannabes

kerry90_2

#51 reporting in with £517.11 overpayment for September.
The end of this month will be 2 years since we took out our mortgage!!
Thank you.

beanielou

beanielou wrote: »

No 144 here with £11 for September.

Some very awesome totals

Another £11 for me.
So £22 this month.
No 144.

[Deleted User]

I've been entirely absent...sorry!!:o

Things have changed so much that we no longer have a OP target for this year....we made the decision that getting the house sorted was the best option so are ploughing all our cash into that;)

For that reason, I am officially withdrawing from the 2018 challenge to make things easier for Pawlala & Hidden Shadow - however, I will be joining again in next year as my target is to pay for the house renovations and finish the mortgage by Dec 2019!

I'll still be lurking though......everyone is doing so well!! :T

Saving_Glut

Hello.

Arriving late to the party, but I can confirm that I have made

£1,322.32 OP in August &
£2000 in September (so far!).

Thanks for tracking!

wantabetterlife

No 26 with £425 for September :j

pawlala

YTD £550346.17

Which means we could have bought between us this quaint, but rather dated, detached property complete with mancave

https://www.rightmove.co.uk/property-for-sale/property-67340134.html

wishingthemortgaheaway

pawlala wrote: »

YTD £550346.17

Which means we could have bought between us this quaint, but rather dated, detached property complete with mancave

https://www.rightmove.co.uk/property-for-sale/property-67340134.html

I'd live there! (Although I may evict the fish from the swimming pool!)

Dobbibill

Hi All,

I've been lurking on this thread for over a month now and have just finished reading everyone's progress. It really is inspiring.

Pawlala - Would I be able to join please?

I've been overpaying a little for a few years but never made the commitment of joining a challenge.
I'd like to set an annual target of £1000 - not alot compared to some I've seen but all relative. I guess the main thing is, overpaying something is always better than nothing.

Thanks


Dobbi

apache2020

Hi all,

Be great to have a mfw number....

Mortgage of £300k so seems like a long and winding road, add in childcare costs and I sometimes wonder whoI am actually working for🏦

Anyway, I am starting small with OP of £150 pm as I also want to maintain a 6 month rainy day buffer. Calculations sho even this amount shaves 5-6 years off my mortgage

Hopefully can improve on this but got to balance with other pulls on family finances. Our house is in need of modernisation too but holding off until post Brexit to see if this government manages to completely 🥗 lunch our economy, concerned that we are in the plateau of low interest rates and financing costs only go north from here, what’s others thoughts on a defensive position in this regard?

Good luck to all 👍

f0xh0les

Dobbibill - I am making (to me) larger repayments, but only over a short term, I can't go on like this every month, but the challenge keeps me focussed. Every o/p counts, and can make a huge difference - it all depends how much you owe, over how long etc. £50 o/p a month on a smaller mortgage is just as effective as a £1000 overpayment on a much larger mortgage. It is all relative. Every payment brings your mortgage-free date closer.

Don't put down your overpayment! No o/p shaming here. The important thing is that you are making a difference to your mortgage.