2020 Mortgage-Free Wannabes

MFW2020

Hi there.
its #122 checking in with August’s £528.

many thanks Unicorn 

ElmoR

No 45 back again with another whopper OP of £4265 for August. This includes our flights money for the cancelled epic summer holiday, which we thought we might never see again but L*ufth*nsa finally coughed it up. Can't see us going anywhere for the foreseeable future and so decided that it could go to the mortgage and we will set about building up some more savings next year...

With these large OPs we could be in the vicinity of paying off the mortgage by Christmas with a bit of luck (well, determination to stay on track anyway...).

Thanks julicorn

ElmoR xx

julicorn

ElmoR said:

No 45 back again with another whopper OP of £4265 for August. This includes our flights money for the cancelled epic summer holiday, which we thought we might never see again but L*ufth*nsa finally coughed it up. Can't see us going anywhere for the foreseeable future and so decided that it could go to the mortgage and we will set about building up some more savings next year...

With these large OPs we could be in the vicinity of paying off the mortgage by Christmas with a bit of luck (well, determination to stay on track anyway...).

Thanks julicorn

ElmoR xx

Thank you so much for your update. Sorry to hear about your cancelled holiday, but good to hear you finally got the money back It looks you've more than hit your target with that - would you like me to increase it for the rest of the year or leave it as is? 

Suffolk_lass

f0xh0les said:

Cortinaa_GTR said:

Last month's OP meant the mortgage provider reduced my monthly amount (which I didn't want) so I've now had to create a fixed monthly OP to take my payment back to what it is! Not sure if I should be counting that as an additional OP or not. 

Absolutely count that as an additional o/p!  I would. They want you as a customer for as long as possible, you are shortening your time with them by o/p-ing and having to create a new fixed monthly o/p.   Well done on noticing their cunning ploy to keep you with them.  Just make sure it does not take you over any 10% o/p limits, or whatever your product has.

I would contact your lender regardless and check that they have treated your OP as a capital repayment and not the advance payment of interest, and ask them to revert the payments to their former level and treat any further OPs as capital, leaving the payments the same. With our first mortgage we found we had sort of "accidentally" paid off £16k without noticing when we moved house by doing this (of course this was before we could check online)

f0xh0les

ElmoR said:   With these large OPs we could be in the vicinity of paying off the mortgage by Christmas with a bit of luck (well, determination to stay on track anyway...).

ElmoR xx

Well that would be fantastic end to a flippin' rubbish year!  I really hope you get there, although it seems you are going to be getting there sooner rather than later anyway.   Every story like yours motivates me to pay down to my next target amount. Thank you.

Hettyhound

Hi Julicorn,  number 90 here 😁. Can I up my target to £4,000 please.  I’ll be remortgaging at the end of October so I’m chucking all spare pennies at it at the moment.

thanks ever so, Hettyhound 

uzubairu

Hi Julicorn,
#79 with final Overpayment total for August
£605.41

f0xh0les

#65 overpaying £77.84 for September, bringing me down to a rather tidy £90,500.

Thanks Julicorn

ElmoR

It feels very exciting julicorn, I have to say! At the start of last year, I had no faith at all that we would be closing in on the big target. Missing out on the holiday doesn't seem so bad in the scheme of things, not when you see all the serious challenges that others have had to deal with.

Could I please increase my target (number 45) to £20,700 for 2020. That is the new target of all targets for us according to the bank statement this month! It might wobble a bit because I'm not sure what the SVR will do to our balance when they kick in next month...

thanks julicorn

ElmoR xx

regularsaver

Hi Julicorn,

Hope you and everyone are well. 

#133 checking in with Septembers OP of £100.32