We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
1% MF challenge
Options
Comments
-
First payment of £50 made yesterday. Paid by mistake when trying to work out how to do an online transfer lol 😊
£50 / £1850 paid.New to all this!Mortgage balance 01/01/21 £181,400. Scheduled repayment date Aug 2036.
Target savings to overpay in 2021 £12,000
Progress to date £7105/£12,0001 -
I'm back for the third year.
£348 for me.£56/2791 -
A boosted start to this for me... £3.90 random refund on Payp@l from something from 10 months ago. £3 reward from bank account. And now that I won't have any childcare costs for this month seeing as the little cherubs are home with me for the forseeable, that's £163 diverted in to this as well! So far then, £169.90/£10701
-
At our current mortgage balance, 1% would be £3,340 which is very scary so I'm going to aim for 0.5% which is still £1670. Ouch. Our five year fixed ends in a couple of months so we've started looking for a better deal, and the endowment from our original mortgage matures next year so we'll have a good lump sum to come off it at that point - we'll probably split this across a couple of years to avoid fees.
Anyway, just checked my mortgage account online and the balance has an odd £39.86 on it. I just got a £40 refund from something I ordered last year that the supplier can't send, so I'm going to pay the £39.86 - got to start somewhere, right? Will make my mortgage account look 'tidy' until next monthmortgage balance 1/1/2021 £334000 end date June 2036
2021 MFW 0.5% £408.31/£16702 -
£1000 transferred today. So that’s £1050 in total.New to all this!Mortgage balance 01/01/21 £181,400. Scheduled repayment date Aug 2036.
Target savings to overpay in 2021 £12,000
Progress to date £7105/£12,0001 -
£4.69 from Quidco paid off mortgage1
-
I'll join in here too. I have a mortgage neutral quest at the minute but chipping away with very small overpayments to at least continue to see balance falling. So this is an excellent 'extra's' challenge.
£705 is 1% for us.MFW: Was: £136,000.......Now: £47,736.58......3 -
Ok, my target this year is £879.62.May 2020
Mortgage £89,557.40
Loan £3,203.51
Car £6,340.54
May 2021
Mortgage £86,568.76
Loan £2,133.87
Car £4,970
2021 Mortgage 1% Challenge: £85/£879.62, 9.66% as of 15th May.1 -
First OP of the year made £62.06.
Reduction in daily mortgage interest since October 23 (new mortgage) - £2.36 July 25
% of house owned/% of mortgage paid off. July 25 - 38.82%/31.66%
MFiT-T7 #21
MFW 2025 #2
MF Date: Oct 37 Feb 372
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards