SLLM (Single Lady Large Mortgage)

Sistergold

Overpayment update
Good morning ladies, hope you are all okay. The second lot of overpayment has finally reflected in my mortgage account! 

Initially, this was the balance 

After first payment of £10k new balance 

After second payment of £30k balance is now 

Will make more payments today hopefully to bring the balance to below £300k

Sistergold

Sistergold said:

Overpayment update
Good morning ladies, hope you are all okay. The second lot of overpayment has finally reflected in my mortgage account! 

Initially, this was the balance 

After first payment of £10k new balance 

After second payment of £30k balance is now 

Will make more payments today hopefully to bring the balance to below £300k

Finally as of today have now managed to bring my mortgage down to below £300k! 🥳🥳🥳🥳👯‍♀️👯‍♀️👯‍♀️👯‍♀️
A further over payment of £40k has now been effected on my balance. 

New balance now £296836.

Sistergold

Today is truly a day to celebrate and always remember as I have managed to now go below my dream target of £320k. £320k is the 50% LTV for my house and this is not taking into account any appreciation. I am now on approximately 46% LTV. 🥹

slm6002

Congratulations with reaching such a target

Sistergold

slm6002 said:

Congratulations with reaching such a target

Thank you 😊 

LeighofMar

Congratulations. I'm sure it feels great to see the mortgage balance start with a 2 rather than a 3. Very exciting. 

Sistergold

LeighofMar said:

Congratulations. I'm sure it feels great to see the mortgage balance start with a 2 rather than a 3. Very exciting. 

Thank you @LeighofMar, very exciting indeed. We feel much more exciting when they have recalculated my monthly payments using the new lower balance. 

Sistergold

Just called WestBrom today to make the final overpayment of £20k. First I found out what was the anticipated new lower payment after the already paid £80k OP. They calculated that it will be approximately £1940 per month. Seeing that my monthly payment will now be less than £2k I asked them to reduce the term with the £20k I was about to pay so as to keep my payment at £1940. If I had not reduced the term the new payment would have gone down to £1809 per month. I had received a letter from them saying that from July on the new product with my original balance my new payment was going to go from about £2.3k to about £2.5k. I just felt that reducing by about £600 a month was okay for now. Once money has cleared and also after my monthly payment goes out on the 14th I will post on here the updated balance and actual updated new monthly payment. They said they will calculated it all around week 3 as they hope I would have finished making all the major OPs I might want to make before new product. 

Sistergold

Sistergold said:

Sistergold said:

Overpayment update
Good morning ladies, hope you are all okay. The second lot of overpayment has finally reflected in my mortgage account! 

Initially, this was the balance 

After first payment of £10k new balance 

After second payment of £30k balance is now 

Will make more payments today hopefully to bring the balance to below £300k

Finally as of today have now managed to bring my mortgage down to below £300k! 🥳🥳🥳🥳👯‍♀️👯‍♀️👯‍♀️👯‍♀️
A further over payment of £40k has now been effected on my balance. 

New balance now £296836.

Payment made on Saturday has now gone in and so new balance. 

Sistergold

Good morning lovely ladies. My monthly payment has gone out and this includes an automated OP of £1000. My new mortgage balance is now 

At the end of the month they will add the interest and that will now make my starting balance for my new mortgage product. I am keeping my fingers crossed that with the interest added the  starting balance will still not be more that £275k.