Purchase on first home completed - Time to start making a dent in the mortgage!

madhatter83

Another 4 hours overtime today, but at a lower rate so £30 overpayment today.

some made to measure roller blinds have arrived in the post, will be getting those up in the next couple of days:)

madhatter83

£30 again today. 

New blinds are up, a pain to fit but they look great! much better quality than the ones at argos that I have used before..  To be fair over triple the price though so to be expected - well worth it. 

madhatter83

£30 overpayment again - I am doing £10 for each hour overtime I do.

madhatter83

£30 today - gotta make hay whilst the sun shines!

madhatter83

£20 overpayment today, and ten put aside for maintenance bills (every six months)

killerpeaty

Congrats on the new home!

I applaud you for your early repayments but please also build some fun into your life! 

I look forward to hearing about your journey.

NotWhereIWantToBe

I am about to take on a NW mortgage as a first time buyer and intend to overpay. 
Can i ask - can you make the OPs online ?
And on their website it says something about OPs under £500 being calculated at next interest change - I want to reduce the term when I overpay , does this mean I need to overpay £500 or more each time to get it recalculated the next month ?
I am very confused by this and hope you have the answers 

Merlin's_Beard

Congratulations on your new home! Have you got an idea of a move in date yet?

Mortgage_Minimiser

Hi,

When you log onto the Nationwide Website you can choose to reduce Term or Payment, and have is 'set' to do one or the other, and change it month to month if you wish. It's very easy - i found NW to be one of the most flexible.

HTH and good luck!

MM

madhatter83

killerpeaty said:

Congrats on the new home!

I applaud you for your early repayments but please also build some fun into your life! 

I look forward to hearing about your journey.

Thank you,for us fun is things like walks in the new forest or beach so only really cost the fuel,  but I know what you mean - have to live too! 

NotWhereIWantToBe said:

I am about to take on a NW mortgage as a first time buyer and intend to overpay. 
Can i ask - can you make the OPs online ?
And on their website it says something about OPs under £500 being calculated at next interest change - I want to reduce the term when I overpay , does this mean I need to overpay £500 or more each time to get it recalculated the next month ?
I am very confused by this and hope you have the answers 

Sorry I am not to sure myself, I think after the first payment i get some options shown.

Very easy to make the overpayments, you get a new section on your main account page and can just transfer in money very easy.

Merlin's_Beard said:

Congratulations on your new home! Have you got an idea of a move in date yet?

Thank you:)  we are looking at early next week! 

Todays overpayment £20