2025 Mortgage-Free Wannabes

BizzyBee_9

Should Clarify:
*currently paying £266 above std required payment each month. 

I also pay into the Offset saving each week, so make 52 payments pa, from which 12 monthly payments are made against the mortgage. 

julicorn

BizzyBee_9 said:

Hi, very new to all this, but would like to join the challenge please. 

Currently considering best options and way forward. Have been overpaying into an Offset mortgage for some years and will continue to do so. 

Currently owe 45k and have 20k saved offsetting it. Aiming to increase the Offset pot by overpaying more than required std payment each month. Currently overpaying £266 above std payment. 

Considering paying lump sum off capital to reduce term and max out Offset savings upto 45k to lessen Interest paid. 

Anything else I need to tell you? 

9 is my key number, so anything related to it is good for me, if possible! Thanks 🙏

Hi there, thanks for wanting to join. The main thing I need is just your overpayment target for next year (in fact, whether it's offset, savings or actual overpayments doesn't matter too much for the purpose of this challenge). Just let me know what figure you're aiming for and I'll assign you a number 99 is still free if you'd like that one!

julicorn

Great start to the month, I just added a whole bunch of updates from the last few days Our total for the year stands at a very respectable £122,056.12 so far!

smetf

#3 checking in with a £235 OP.
Council Tax plus surveys and book selling from decluttering.
March total now £871.62 and YTD £2515.59
Thanks @julicorn
S

Sandyra

#32 here. March OP of £1210.42. April will probably smaller as I try to save up fees for remortgage in May. Thanks juilicorn 

here_for_the_tips

#35 with another £47.26 for a updated February total of £195.28

smetf

SE income in. £150 OP made, March total now £1021.62.
S

anna42hmr

Hello number 105 her with this months op, please can you put me down for £500 for march please (so year to date is £1500).   well done everyone on their OP's to date and thanks again Julicorn for running the challenge again this year.  

I am hoping that I may be able to finish my OPs next month for the year, have been using additional overtime payments for this year to over pay  the mortgage.  As such, I am now not far now until I will hit my 10% allowance for the year, so will not be able to make any more payments once I hit that amount.  Have decided that I will then be putting the rest aside for the remainder of the year for next years over payment 10% with the hope I may be able to do a lump sum the start of next year when the 10% re-sets again.  

hellosupernova

#19 overpayment for February 2025 £254.17 Thanks Julicorn

Simobla1

Number 56 with an overpayment of £346.92 to allocate to March please.

Many thanks,

S