Moved to the "forever" home. Now to pay it off!

pepperwand

Sorry I've been a bit quiet on here, there hasn't been much to update as we can't make our first overpayment until after 7th February. The good news is that we'll be able to overpay £499 in our very first payment right from the outset of this mortgage from savings in January. Roll on next week when I'll pay it, I have to set up our mortgage provider on our online banking sl I'll do that soon.
In less good news we didn't win anything on the premium bonds this month, I think this is only the second month in about 16 months we haven't won anything so I'm trying to remember we've had good luck other months.

caeler

I think it’s really fantastic that you’re making your first OP so soon! 

pepperwand

Thanks @caeler, I'm determined to start paying off this massive mortgage as fast as we can manage! 

pepperwand

I've just sent our very first overpayment to the mortgage account (£99.85) to test it works ok and I've set it all up properly. I'm strangely excited! 

FtbDreaming

Congratulations @pepperwand onwards and upwards from here! Xx

ruby_eskimo

Congratulations on the first overpayment!  You're on a roll now.

rugbymadfamily

Congrats on the first OP! Great news :-) 

pepperwand

Thanks all, this is such a lovely, supportive forum. Another £400 overpayment made today which will be the last for February. Our overpayments have to be under £500 per month as a term of our mortgage. It's also likely to be the largest overpayment we make for a while as we didn't have a mortgage payment in January.

pepperwand

So this has been a good month as we haven't really spent anything, lockdown has its benefits. I've been keeping myself busy selling bits and bobs we don't need on Facebook marketplace and have made an extra £110 from that. We should be in a position to pay another few hundred off the mortgage this month, the exact amount is still to be decided as Mr Pepper and I agreed that each month we'll look at what's left and decide how we split it between the mortgage, the house renovation fund and children's savings.

powerspowers

Woohoo well done for first overpayment!