2018 Mortgage-Free Wannabes

happytobehere

Hi, can I join in the fun?

I am a long time lurker but hopefully will be paying our mortgage off in February 2019 if all goes to plan, but I would like us to push ourselves and try - try - to get it paid off by the end of the year.

Our mortgage currently stands at £25,200. We are currently over paying by £1300 a month. This is a lot, I know, but it has taken us a long, long time to get to this position position.

We have been married for 25 years and when our children were small we literally had to copper up to afford bread and milk. We have worked hard to pay off our debts and after reading that the best way to get a pay rise is to spend less, we have lowered our outgoings as much as possible and put 3/4 of my salary towards the mortgage.

We used to overpay the mortgage directly but last year I was diagnosed with cancer so kept our savings in the bank building them up just in case we needed them. Thankfully I received 6 months full pay and am now on half pay with contribution based ESA. I recently finished chemotherapy and am shortly starting radiotherapy but feel I am getting out of the woods.

We are both very interested in Fire (Financial Independence Retire Early) so once the mortgage is paid off, my entire salary will be put into investments.

We currently have about £8500 saved up which will come off the mortgage when I return to work, just in case.

I have been following this thread and have joined in order to focus my thoughts to this final leg.

f0xh0les

#161 reporting in a sneaky £38.70 overpayment.
Total so far for April £127.52

Thanks HS

erin_transport

2018 MFW #138
£50 payment today
Total to date £1890/£6500 = 29.07%

Aliliva

#34 reporting £313 over payment for April

Apparently there was some miscalculation in the amount I paid to my solicitor at completion, and they returned me £600. So, half of it has already gone towards the mortgage, while the rest is set aside in the "I'll need a new boiler and a new kitchen soon" found.

LadyGnome

Number 42 checking in with numbers for March

OP in March £649.20
YTD £1438.10

Cherryfudge

Just discovered my bank never implemented the DD I set up by phone in February, and the mortgage has been being paid by what I thought were my overpayments!! :eek:

I do check my statements, honestly - but I got locked out of the relevant account for a short while when the March payment was due, then noticed April's payment hadn't gone out at the beginning of the month, but assumed it would go once the banks were open again. It didn't.

I've been into the branch to complain and get a DD form - determined to have the evidence in my hands, though the assistant at the branch thinks there may be a recording of the phone conversation settling up the mortgage DD.

The upshot of it all is that my overpayments are going to be short of what I expected but it's going to be a few days till I have time to sort through exactly what's what and post a revised figure.

Urbanshyne

Hi HS,

No.171 adding a further £26.71 to April's over payment, bringing this month's total to £1276.71.

Cheers.

ang4k

Hi

Did you get my 2000 overpayment for March. No 17 ang4k here. Also the 72.30 on the spreadsheet isn’t mine, must belong to someone else.

Thank you

anna42hmr

Hi, number 105 here with Aprils OP, can you put me down for my regular monthly payment for april please (£215.26) so that will be a year to date of £861.04.

well done everyone on the op's so far, can't believe we are a third of a way through this years challenge already, wheres the time flying to!

thanks again for running this challenge

[Deleted User]

Evening all you lovely MFW people, hope you are enjoying the gorgeous weather

No. 81 reporting a total April OP of £660

Thanks HS