2023 Mortgage-Free Wannabes

julicorn

jackieblack said:

Smudgeismydog said:

#70 checking in
My rental house exchanged and completed today, so made a payment of £58,215.67

hoping to make a further payment over the weekend, but struggling now as the app keeps crashing 

Well that makes our collective 100k look less impressive! 🤣

Let's put it like that - the race to £200k is officially on

Congratulations on completing on your sale, and that massive overpayment @Smudgeismydog !

julicorn

KajiKita said:

Hello 😊

Bit late to the party, but may I join? 

I was in debt until this month (the joys of 60% furlough pay, mild depression and then getting made redundant twice in quick succession) so am still building up YNAB pots and savings. This means I am not 100% sure what my OPs will be (there is a payrise coming as well, but the details of that are a bit vague and I’m not sure how much of that I will redirect into my work pension as I haven’t reached maximum contribution on that yet). 

What I do know though, is that I have been OPing a little last year (bits and pieces from TTs, surveys and CoL payment from work) so the mortgage company had adjusted our payment down, like they do. I have put it back to what it was *and* rounded it up so we have a default OP of £7.73pcm, plus I will also have the £50 per month from paying off the credit card debt to put towards it. I think I can round that up to £60pcm 😉 so across the remaining months of the year I will be aiming for an additional £540 as a minimum OP this year. 

I have OPd £637.20 so far this year, so my overall target for 2023 will be (rounded up to) £1,200.
(Just posting here has made me work all this out! 😊 I haven’t set myself a target as such before 😊)

KK

Not too late at all, thanks so much for joining us! You've got number 48  

try_harder

Number 52 with another £500 for last week .Total now £6000..Thank you

gillynomad

#35 checking in - £750 overpayment for March. Touch and go this month but got the payments across the line

Hettyhound

#69 with a final March OP of £133.  This makes £350 total for March.  Thanks Julicorn

Smudgeismydog

#70 managed to complete the next overpayment of £44,874.87

I hadn’t expected to be in this position at the start of the year. I’ve now got 1 more overpayment to make to finally be mortgage free

I promise I’ll be cheering you all on from the sidelines x

Smudgeismydog

#70 confirming final payment of £25,500 and mortgage redeemed🍾

good luck to you all x

julicorn

Smudgeismydog said:

#70 confirming final payment of £25,500 and mortgage redeemed🍾

good luck to you all x

That's absolutely fantastic, congratulations! Are you doing anything nice to celebrate?

julicorn

Safe to say that those overpayments have well and truly catapulted us beyond £200k, next hurdle is a quarter of a million! And we're 'only' a bit over £15k off, so let's see where the next few overpayments take us Well done everyone!

WelshSaver

So excited today as I just paid my first overpayment.  My monthly payment is £503.42 and I am aiming to double my payments every month.  So today I paid an overpayment of £503.42   I am #18

Lovely to get off the starting block.  Keep up the good work everyone.