2008 MFW newbies

bellsbells

j4m35 wrote: »

Hi
Please can I join in? I know it's a bit late in the year!

Mortgage at start of year: £164332
O/paid this year: £2874
Sept: £486


Thanks, and good luck all

it's not too late at all! welcome:j

bellsbells

Maslowe wrote: »

Hi

Have been watching this thread for a while and would like to join. :j
DD just about to start University and funding her is going to a challenge as well as overpaying but feel the time is right.

Maslowe

welcome maslowe!

pollys

Pollys reporting in. Due to unfavourable conditions we have cancelled DH sharesave for the time being so have paid an extra £1000 of the mortgage we are also going to up our monthly overpayment to £575 for the next 2 or 3 months. Should take us below £40,000 by the end of the month.

kevjarvisuni

Hi,
can I join the MFW 2008?


Our current balance remaining is £113,389. We started overpaying by £300 each
month in August but by December I would like to have paid off £2000 and need motivation.


Many thanks

Kev :rolleyes:

SPL

Hi kevjarvisuni - welcome - am sure you will get the motivation you need from being part of this little comunity :T

it has been quite a long time since i posted on here but i have kept up to date with everyones activity and well done to everyone for all our efforts to become MF

we have continued to overpay all year and a couple of months ago my husband got a promotion and i had an increase and so upped the mortgage by another couple of hundred per month, whilst still giving us the change to overpay the £499 monthly maximum - well they say you dont miss what you dont have!!!

i wanted to do it so that we did not get used to the extra pennies as after november we will be cutting right back as our second bambino is due to arrive then and the money situation will significantly change !

had a good weekend by doing two car boot sales the main intention was to get rid of things to give us some more room but am very happy that we made £120 and so £100 will be going straight onto the mortgage fund

i have also been surprised how the quidco payments have added up over the year and must remember to keep using hte site whenever i buy something online

am also trying to get a bit organised for christmas by picking up bits and bobs now when i see any special offers so any hints and tips will also be welcome

anyway nice to be back - continued good luck to everyone :T

longway2go

Hi everyone,

I am another person who has been watching for a while and now decided to post as I think this is a fantastic idea with loads of savings to be made.

I have a mortgage of £166K which I am looking to clear in 10 years and I am going to be making my first overpayment in the next few months which is quite exciting! I feel like I have a long wait ahead of me but can't wait to be mortgage free and then get out of the daily rat race for good. Will be checking in regulaly as I need lots of motivation to keep going.

Good luck to you all

Maslowe

Hi
I have posted a pm to bellsbells. Our mortgage is £138,356 and we want to pay it off in 9 years, however we have a fixed term and can only pay £750 extra per year without penalty. So the plan is to pay £75 for the next 10 months and put the extra 2 months into my ISA. Will be calling into the bank tomorrow to arrange the first payment as it cannot be done online with Barclays as many people know.
I really enjoy this thread this is just what I need.:beer:

Maslowe

shirlgirl2004

Hi

Just wanted to let you know that although you can't view your mortgage online you can do payments online. If you call the mortgage centre and ask for the account and sort code they'll give it to you so you can do payments as you would to any other account. I asked if this could be done in the bank and they told me it couldn't but I've been doing it for about 5 months now.

torbrex

Well I have started the ball rolling, I made my regular overpayment this month and did a recalculation of my outstanding balance, It is now less than I have in savings.

I have now decided for definite with the current state of the economy that debt free is the way to be so I have started pooling all my savings into one pot and next month on the aniversary of taking it out in 1992 I will pay off the balance of my mortgage, 9 years early.

I still need to contact my lender to find out what the exact final payment will be but I have used the mortgage calculator in 'Money' to give me a figure of £5750 and I know from asking previously that the settlement fee is under £200 so there should'nt be any last minute surprises.

So its fingers crossed that I have a smooth month then this time in October I will be joining the 'roll of honour', with no small thanks to the folk on this thread for all the inspiration and the drive to reach my target early.

Daft_Pegasus

torbrex wrote: »

Well I have started the ball rolling, I made my regular overpayment this month and did a recalculation of my outstanding balance, It is now less than I have in savings.

I have now decided for definite with the current state of the economy that debt free is the way to be so I have started pooling all my savings into one pot and next month on the aniversary of taking it out in 1992 I will pay off the balance of my mortgage, 9 years early.

I still need to contact my lender to find out what the exact final payment will be but I have used the mortgage calculator in 'Money' to give me a figure of £5750 and I know from asking previously that the settlement fee is under £200 so there should'nt be any last minute surprises.

So its fingers crossed that I have a smooth month then this time in October I will be joining the 'roll of honour', with no small thanks to the folk on this thread for all the inspiration and the drive to reach my target early.

Congratulations and very well done. :T:T:T

It's great to read these types of post as they provide an inspiration and motivation to us all.