2019 Mortgage-Free Wannabes

Rachiedabbler70

Morning All
Good to see lots of August payments already and some with mortgages in touching distance of being paid off:j

August payment for me is #81 £559.86
A long way to go but I will get there many thanks Julicorn

Roxie

Morning everyone,

Just read through the latest updates and it's good to see so much positivity on here, in comparison to the doom and gloom I seem to encounter out in the 'real world'

After putting in all of my overtime funds I am making a £600 overpayment for August as this has taken me through the £65k barrier...... I am starting to see light at the end of this dark mortgage tunnel.

Catch up with you all next month

Roxie no: 33

jackieblack

KukiNoki wrote: »

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

Suffolk_lass wrote: »

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

I agree
I’ve recently decided that, rather than reducing the term/paying off the mortgage completely, I’m going to pay it down until my MP is a fairly minimal amount and keep it going. I might need to borrow in the future for home improvements and it seems easier/cheaper to get a further advance on the mortgage than to start again from scratch with a new secured loan/mortgage... :think:

pinkfluffybabe

#64 reporting £26.04 overpayment for July

kitjos

jackieblack wrote: »

I agree
I’ve recently decided that, rather than reducing the term/paying off the mortgage completely, I’m going to pay it down until my MP is a fairly minimal amount and keep it going. I might need to borrow in the future for home improvements and it seems easier/cheaper to get a further advance on the mortgage than to start again from scratch with a new secured loan/mortgage... :think:

This is what we are doing. We're in our early 30's and reckon we will move again in 5-7 years time so need to keep the mortgage open. A 50k mortgage its about £250pm which is very affordable for us, that's our goal for now anyway, we can always decrease it to 30k later on down the line .



#14 with OP of £100 please Julicorn! . Thank you xxx

julicorn

Daveinlincoln wrote: »

Is it too late to join?

Not at all, just let me know your target for the year and I'll assign you a number

lindez

Good evening all, it is fantastic in here with all the over payments congratulations everyone.
#44 with £56.75 over payment for August.
Thank you Julicorn.

taka

Hi everyone, well done on your OPs!

My Aug standard payment is out (£73.14) and 2 OPs (£43.34 + 57p!) made. This reduces my outstanding mortgage to £5894.49 by the end of the month. Interest is now just under 45p per day.

Aug reduction = £108.28
(Aug-Dec 19 MFW 2019 challenge = £108.28/£1997.77)

(Julicorn - please delete my numbers for Jan to July in your spreadsheet otherwise my % will be wrong for my 5 month only (Aug-Dec) new challenge. Thanks! ).

Runders

HI all,

Great to see all the over payments this month already. I have another one to add in from a refund I received this month

so #109 with an OP of £26.35 making an August total of £208.96

Natwest only update the Mortgage totals twice a month, so it's a bit frustrating waiting to see it show that I am in the next thousand mark. But just knowing I am in the 180's instead of the 190's is quite a relief!

Raggle1

Hi, No.62 here reporting an overpayment of £1000 for August. Ytd £6120. Thanks