2019 Mortgage-Free Wannabes

ilselm

#106 with a further £105 transferred to the mortgage account.

This time it’s due to cashback from car insurance renewal and some account tidying.

A couple of small milestones reached this week which all help to maintain the positive momentum. It’s amazing how many you can find if you look hard enough!

1. Hit 50% of MFiT-T5 target
2. Cleared and closed one of the mortgage accounts. While there’s still a sizeable balance on the other one, I did get a small kick out of seeing only one line of mortgage debt, as opposed to two, when accessing my account earlier today.

Thanks,

September total: £2,399
2019 total: £23,838 / £28,000

fruitloop04

julicorn wrote: »

Excellent, thank you! You're our #119 now

Thanks Julicorn! I have overpaid another £50 towards the mortgage so now on £2154.18

frugal_lass

Suffolk_lass wrote: »

My note of caution re the Skipton interface is that the interest updates lag behind the overpayments, (often different to the letter you receive that updates that) and each time you make an overpayment it shows as three rows of transactions as they reverse it and then make sure it is a capital overpayment, rather than just a credit - so the right action, but a clumsy representation on-screen.

Also the balance outstanding amount is often a mismatch with the total within transaction view - I think this is because the month's interest is added once a month rather than when you make the overpayment - they used to show the updated interest calculation as a credit (in my view that should be a minus transaction, as it is a saving that credits your account and reduces the balance, but sometimes it was a plus operand and worked the wrong way) and it was always impossible to match the amount with any maths calculation.

I have had numerous secure message conversations with them about this and compound interest (demonstrating the person responding does not understand it, or how it works) - I suspect I wasn't the only one so now they just add the interest each month and you have to take it on trust unless your spreadsheet is a lot more complicated than mine...

I hope this doesn't put you off - don't get me wrong, I like Skipton, but like (it seems) all older banking/BS systems, there is a manual factor here in the online representation (Co-op bank is the same).

Sad geek? Moi? :o

Sorry for the late reply but I appreciate your detailed explanation. I will keep an eye on it and thank you for the heads up!

Hettyhound

Morning Julicorn,

#90 with an overpayment of £10, bringing September to a total of £28

Thanks

Bounty123

Evening,

No. 23 stopping by to log my update.
September overpayment of £205. Running total for the year = £1809.

Cheers, Bounty

[Deleted User]

No.58 - September op of £2850

Sub 5k now!! :j

Elvie100

Hi all

#60 with an overpayment for September of £450.

Thanks, L

varfor

#118 with 3720 for September. That should bring year total up to 7750.

I don't think there will be much more this year because I'll probably start diverting OP funds elsewhere. I worked out today that over 65% of my net worth is tied up in my house! I suppose it was inevitable buying at a time with really high prices but I'd really like to get that number down.

julicorn

Elvie100 wrote: »

Hi all

#60 with an overpayment for September of £450.

Thanks, L

Congratulations, it looks like you have reached your target! :j Would you like me to increase your target for the rest of the year?

weenemo

#76 checking in with OPs for September, after some tidying up following come big spends on the house plus our regular over payment.

September OP = £2550