2022 Mortgage-Free Wannabes

pinknsparkly

Hi Julicorn!

Some rather late updates I'm afraid. I'm number 99
£133.69 for August
£169.02 for September

I don't think I'll hit my target this year, as we moved house in August to a much larger mortgage. I set my target based on the lower mortgage we were previously on But any overpayments are a win!

Trundley27

Hi 

Not sure how this MFW community works or if you can or cannot join in right now but i would love to join. If I can how do I do this? 

TIA 

Ash

julicorn

Trundley27 said:

Hi 

Not sure how this MFW community works or if you can or cannot join in right now but i would love to join. If I can how do I do this? 

TIA 

Ash

Hi Ash, just let me know your overpayment target for the rest of the year and I'll give you a number

julicorn

f0xh0les said:

Aaaand...... #40 reporting in for October, with a £73,765.11 overpayment which pays off my mortgage fully!!!  saving over £15k in interest at 1.8% on my current terms, but probably double that with the interest rates they are offering now (eek!!)

This thread has kept my spirits up in months where I could only afford a £20 overpayment, and kept my motivation going in months when I could pay more.  Each £1 was £1 I would never pay interest on again. 

Thanks to the wonderful @julicorn and the amazing @pawlala (pawlala was the julicorn before julicorn was, or maybe julicorn is the new pawlala after pawlala was) for updating the spreadsheet and keeping me in order and on track, and enabled me to pay off the mortgage with an inheritance, because I had been overpaying for years. 

In celebration I switched my (tarting) account to the Nati0nwide and scored their £200 switching bonus!! and DH did as well, so that is an extra £400 to  start to build the savings back up!

Keep on keeping on, you will get there.  Good luck all!

Absolutely fantastic, congratulations! Enjoy your mortgage freedom  Sounds like you celebrated in (moneysaving) style. 

julicorn

I just realised we've also passed the £600k mark, well done everyone!  

Trundley27

@julicorn Thanks. My last two months overpayments were £300, but with a target for November and December to be £500 P/M until end of the year. 

After that minimum £500 per month and additional various payments above that subject to month per month basis. 

After I get a number what do I need to do?

Ash

ruby_eskimo

Morning all. #60 checking in with an OP for October of £289.31.  Probably not going to hit the target I had for this year, but it's still the most I've ever managed to OP in a single year anyway so I'm happy with that!

Sandyra

Sandyra said:

#32 here, OP October is £677.57. Thanks julicorn x

#32 back. Trying to focus on OP in the hopes of limiting the impact of remortgaging and pushing to meet my yearly target. So adding another £660 for October -£1,337.57 in total. Thank you Julicorn x

Shal1160

Hi all
#36 checking in with an October o/p of £110, slipped behind from my original plans but student loan is paid off this month so hopefully will do a bit better next year. Thanks Juliecorn!

frankersBri

My savings rates are now higher than the interest I am being charged on my mortgage. That fix last winter so much cheaper than rates that are out there now! So, starting a savings account exclusively for mortgage OP's to offset against the mortgage balance. Interest earned will help me OP more when I remortgage (or pay off lump sums if savings rates tank again). 

So, #37 adding £2000 to October, for a total £2,229.49