2019 Mortgage-Free Wannabes

pawlala

#22 reporting total overpayments for July came to £994.52

Thanks and have a great weekend everyone!

f0xh0les

Cherryfudge :T:T:T:j:j:j:j:T:T:T Look at you go!

I got a letter from my useless mortgage company today. When I took out the mortgage they told me I could manage it online, great I thought, then it turns out I could not see the mortgage account without their savings account, and that was only available with their current account, so I took those out as well, and I have only ever been able to see the balance owing on the mortgage, never the interest or overpayments or payments or anything interesting. Now, because I am not using their useless accounts, they are going to close them. :rotfl:

Roll on March when I re-mortgage to a more helpful provider. The look on DHs face come December, when he gets a 6 page document detailing every 55p TT over the space of the year, is priceless. But it works, that figure I can see on the balance is definitely coming down every month.

taka

Wish - I'm with you with the boiler "fun". My (admittedly 20 something year old) boiler is becoming less and less willing to reliably heat stuff without increasingly frequent repairs. It is rapidly coming to the point of not being worthwhile to keep on repairing it.

Can I be a pain and change my challenge please Julicorn? (I'm #51) My challenge of OP'ing £500 this year has been met and then some - my OP total for this year is now approx £3500. :j Reading journals (and the consequential playing with the mortgage overpayment calculator /my spreadsheets / YNAB etc ) is dangerous! I've decided to erm... stuff it... and try to be MF by Aug 2020. :eek: :rotfl:

My YNAB categories were given a severe "haircut" (mostly my poor holiday and hobbies pots!) a week or so ago & I was paid a little early this month and decided to suspend / downgrade various saving plans for the rest of the year and fling much of it at the mortgage instead so I OP'd approx 3k in July.

So... my new challenge is to "OP" £1997.77 by the end of December (actually OPs + standard monthly payment x 5, reducing today's balance of £5997.77 down to £4k ). Thank you! Hopefully ~£2k paid off by the end of Dec is doable! I'll report it as OP of £XX made giving an "Aug OP total" of £XXX. Julicorn, you'll need to update my Aug OP entry on your spreadsheet to whatever my latest "Aug OP total" is whenever I report an OP since the pesky interest accruing means they'll never add up if you just add all my OP's for the month together. I hope this is ok?


Interest is now down to 45p per day and decreasing fast! :j

life_is_sweet

#11

Reporting an overpayment of £1022 for July
£6889/£15000 for the year so far

Enjoy the sunshine everyone!

Lis

KukiNoki

Is it OK to keep small mortgage running until you retire or pay all off ASAP.

f0xh0les

Oooh Taka! , those are some interesting plans you have there. Jolly good luck to you. 2020 is your year.

Cherryfudge

KukiNoki wrote: »

Is it OK to keep small mortgage running until you retire or pay all off ASAP.

Do you have a penalty to pay if you pay it off early?

erin_transport

Hi
#138 reporting in with just an overpayment of £58 for July due to a huge car repair. Better than nothing.
Thanks

Lomcevak

#8 with an OP of £1,410.36 to start off August, £33,796.54 for the year so far. Will be a bit more mid-month once I've finalized the budget.



Takes me under the £25k mark! 9 months to go

Suffolk_lass

KukiNoki wrote: »

Is it OK to keep small mortgage running until you retire or pay all off ASAP.

Cherryfudge wrote: »

Do you have a penalty to pay if you pay it off early?

That is the thing really - my interest is just under £1 a day - I can make more than this with shuffling my pennies from one place to another versus paying off the mortgage early and paying a £75 early redemption fee and an admin charge and having to securely store my deeds - so the answer is that it depends on your circumstances and mortgage