2020 Mortgage-Free Wannabes

Qtipps44

#61 hi, another £500 paid for May bringing total for May to £1052.27.

thank you for updating.

Runders

Hi all,
#97 here with my last OP for may of £48.89, taking my May total to £266.5.
I hope you are all doing well!

bb_queen_

Hi all

Received £25 refund from car insurance company so decided to transfer this to mortgage.

Also noted that my mortgage outstanding balance end was 14p rather than a neat .00. So transferred an additional £5.14. Bringing May OP to £426.58.

Bennettxoxo

#71 completely forgot to post last months overpayment! 

April overpayment £73.14
May overpayment £82.39

julicorn

discotek said:

Hi julicorn - can I sign up please?
Original mortgage balance: £147,188.00, 30 year term, started September 2019
Current balance: £145,500.00 
Goal - get down to 60% LTV in September 2021: £117,750
2020 MFW goal: £10,800
2020 OPs so far: £596.27

Of course, welcome to the challenge! You've got #146

julicorn

beadyeyes19 said:

julicorn said:

beadyeyes19 said:

I'd like to join please. I'm new to this site and forum. 
Mortgage at the start (July 2019) = £158,747 with 18 years remaining. Goal is to pay off within 10 years. 
Current remaining (as of 1st April) = £148.213
Currently overpay £250 automatically each month. Looking to make a down payment of £5k this week (potentially more) from savings depending what our remaining overpayment allowance is. Will update with figures once I have them this week. Looking forward to getting to grips with being a MFW!

Hi, and welcome to the forum! Let me know how much you're planning on overpaying this year (i.e. your goal), and how much you've overpaid so far this year (I'm assuming £250 each month, but checking just in case), and I'll allocate you a number

Hi, yes, overpaid £250 each month so £1250 so far this year. 
I should get a mortgage statement next month as it's a year since we took it out so it should have calculated all of our overpayments in then too. 
Goal for 2020 is to overpay £8,000.

That's great, thank you! I've given you #147 now

beadyeyes19

Well, I have actually made my goal already 😂. Short lived goal! 

I phoned up mortgage company today and asked how much of our allowance was remaining and he confirmed £10.5k and that runs out next month so we thought about it and put down 9k today! 

So, today I added 9,000 to the 1250 overpayments already made this year, giving a total, so far in 2020, to £10,250. New goal is to reach £11,500 by 2021. Thank you! 

discotek

#146 reporting an additional £1250 deposit for May - YTD - £1,846.27 / £10,800
the plan is for £1250 deposits a month until August which will make up my half of the overpayments. In September we'll see how much my partner can contribute (unemployed due to covid-19) and see if we can meet our target for the year with a bit of extra help from my wage.
thanks julicorn

OhtobeMortgageFree

#93 - I've just overpaid another £15 taking me to £65 for May now.
With our reduced living costs and extra hours at work we've managed to add an extra £6000 to our savings pot since the start of lockdown though! I'm planning to keep it aside for a few more months until we have a clearer idea of what is to come and then hopefully overpay this too.
Thanks for updating as always!

weenemo

Hello, 
No. 54 checking in to add £550 for May

Thank you!