2020 Mortgage-Free Wannabes

skye_blue

Hi (No 73 here)
Hope you are all staying well
I'm stashing my over payments into a separate account for a while rather than pay them to the mortgage company
I don't know if this is the right move or not but until everything settles down I want the added security of having additional funds available, I am told we will carry on being paid but who knows if this will change if it goes on for a while!
How is everyone else treating their over payments?
Take care x

scottishlass

So at the moment I'm still paying mine off but in the hope that if I need to take a break it will help and I have a reasonable buffer in emergency savings.
So number 20 reporting another £30 OP for March making  £329.03 for March.

julicorn

skye_blue said:

Hi (No 73 here)
Hope you are all staying well
I'm stashing my over payments into a separate account for a while rather than pay them to the mortgage company
I don't know if this is the right move or not but until everything settles down I want the added security of having additional funds available, I am told we will carry on being paid but who knows if this will change if it goes on for a while!
How is everyone else treating their over payments?
Take care x

I'm doing the same thing for the time being, even though we have a decent emergency fund. It just feels like a time to play it safe. 

Lomcevak

julicorn said:

I'm doing the same thing for the time being, even though we have a decent emergency fund. It just feels like a time to play it safe. 

I think it's sensible, and there's a lot to be said for having cash to hand at times of uncertainty.

My mortgage is now down in to the hundreds of pounds, and i'm awfully glad that I stuck with the slog of paying it down over the past few years - it's nice to know that what was (by far) my largest monthly expense is out of the way.

Elvie100

Hello
#60 here.  Just £301.96 this month - our normal OP.  I usually try to add to it, but I think I will wait a while.  We are not changing our monthly payment, so April’s will be more anyway as the rate has dropped twice!
Cheers
Lx

CrazySexyCool

OhtobeMortgageFree said:

#93 - another £10 overpayment made for March to take me to £45 for the month.
I've lost my regular weekly freelance contract with an events company this week though (looking like they may now go bust) and it seems that coursework moderation won't be happening this season either so that's another couple of thousand income I'd been counting on. ☹️

Hi OhtobeMortgageFree,
I'm a teacher and have been informed with there being no GCSE or A-Level exams this summer, it is imperative that students complete coursework for the subjects that have coursework elements, as this will be needed as part of the evidence-base to determine their final grades. I do not know for certain whether this means that external people will still be required to, and so paid for, coursework moderation. But I would say that there is still the potential - so don't give up all hope. 

Dobbibill

#29 - mid month update

£63.11 OP.

Along with the rest of March payments that makes £420.31 for March.

YTD £570.56

Thanks Julicorn

Stay safe people

Dobbi

glass_half_full

#55
My monthly saver matured this month. I was going to use this to pay off a car loan, but decided to keep for now as EF. So far this year have OPd £700.
Keep safe everyone.

Throwaway1

skye_blue said:

Hi (No 73 here)
Hope you are all staying well
I'm stashing my over payments into a separate account for a while rather than pay them to the mortgage company
I don't know if this is the right move or not but until everything settles down I want the added security of having additional funds available, I am told we will carry on being paid but who knows if this will change if it goes on for a while!
How is everyone else treating their over payments?
Take care x

We're doing the same thing. The ISA we are using to stash pays 1.5% interest and our mortgage is 2.64% so we'll lose out a bit but not too much.

jackieblack

#4 Additional OP of £450, making £500 for this month.
 I don’t envisage making any further overpayments for the next few months but maybe towards the end of the year... 🤞

Thanks julicorn 👏🏻