Dora's mortgage no more 2021

Dorastar

Overpaid another £800 yesterday so mortgage down to £144,745 now. Got to ring up to check how much we can overpay so we don't go over and get charged for it, although I doubt we'll be anywhere near but not sure now it's split into two parts. Would love to get it down to £140k by the end of the year if we can and we're not planning on doing anything wildly exciting before then!

Thriftmaster1973

It's usually 10% of original amount borrowed, so £200k mortgage would allow £20k overpayment in a 12 month period.

Dorastar

It's the split between the two parts I need to check, depends if OPs are going off the total amount or the repayment part alone as there would be a big difference and there's some OP included in our regular payments too. 

savingholmes

Hope you get the right answer. Well done on the OP

Dorastar

Updated BFF, now covers 3 months of bills so happy that's 'full', plan now is to start filling up a holiday fund as we'd like to go away next year as offspring will be 21 and 16 and to carry on with the OPs as well. Mr Dora is much better having something to aim for as it stops him frittering money away. Lucky that we're on a low fixed fuel tariff till next May so trying to save up before we get hit with a massive rise in that, then we can reassess. 

Dorastar

Started the holiday fund £417.91 straight in there from Mr Dora's overtime bonus this month. He is loving the new set-up already!

Dorastar

Another month, another MOT and car tax! But another side hustle has paid out so that helps. Planning on a frugal Easter so hoping for another £400 mortgage OP and a bit more into the holiday fund too. Lots of free activities, gardening, running, stitching, reading and a pension review to see what retirement possibilities there might be for us both (although we are both happy carrying on for a while yet I like having some idea of what lies ahead!)

Dorastar

Paid some more into holiday and BFF fund from this month's pay and have left a message for mortgage company to ask about the overpayments. Have checked the documents and both seem to be lumped together so potentially able to overpay £14k per year (very unlikely) but I also want to know if we're able to direct any overpayments towards one part or another - I don't know which is best?

Dorastar

Side hustle work today and timesheet going in for about 15 hours of work, so that's going to go into one of the funds too. A no spend day here while I work and generally laze about! £21 from surveys transferred into main account yesterday so that's going to go into holiday account as we'll need a break by next summer.

Dorastar

Had a pension review yesterday, some good bits and some not so good so looking today to cut a few costs here and there in order to pay into a few more things for our future, swings and roundabouts overall but fiddly to get sorted. Another day of phone calls and emails to get our money flowing back to us!