2008 MFW newbies

I,_Brian

bellsbells wrote: »

Here we go with Octobers totals. Aspecial mention must be made to Courgette - target has been reached and exceeded.:j Well done to you Courgette!

Good to see so many doing well.

Also, just to add a correction that I've also beaten my target after taking £30k out of the business as an over-payment on the mortgage, so that may need updating.

Funnily enough, would actually have been a lot harder to get a decent tracker rate if I hadn't - my Nationwide application through my current remortgage would have been in trouble with it.

howskint?

Haven't contributed much to this thread this year but have been following! Huge congratulations to everyone on their achievements! Have just checked our online banking and we've knocked an extra 3760 off our mortgage using our offset savings account. This means I've managed to beat my target of 3500:j ! I'm off to look at the 2009 thread now - Have just started maternity leave so am hoping being at home will motivate me to join in more!

howskint?

llydaw

I haven't had a chance to have a read of the thread for a while. Other half is working away so technically I've become a single mum to two kids during the week and boy is it exhausting!

Congratulations on these overpayments everyone, I get so excited seeing everyone doing so well, it really spurs me on. Alas my overpayments will be on hold until March/April next year as I'm getting married in Jan and the overpayment money will be funding it, but at least we'll have no debt. I'll be back with a vengence afterwards though. Good luck to you all, keep up the good work and see you in 2009.

Bellsbells I've Pm'd you too so that you know the figure that you've got at the moment is my final one for 2008. Thanks

zavarony

llydaw wrote: »

I haven't had a chance to have a read of the thread for a while. Other half is working away so technically I've become a single mum to two kids during the week and boy is it exhausting!

Congratulations on these overpayments everyone, I get so excited seeing everyone doing so well, it really spurs me on. Alas my overpayments will be on hold until March/April next year as I'm getting married in Jan and the overpayment money will be funding it, but at least we'll have no debt. I'll be back with a vengence afterwards though. Good luck to you all, keep up the good work and see you in 2009.

Bellsbells I've Pm'd you too so that you know the figure that you've got at the moment is my final one for 2008. Thanks

The 2009 thread is up and running now, so if you want to PM a target when you are ready I will up date for you
Good Luck with the wedding
Zav

Sunny_Donny

hi Bellsbells and all before.overpayment for November is £19.50 with a total for the year so far of £91.50, so ontarget for £120 overpayment by end of December. I'll pop over to 2009MFW and set new target for then (it will be more!!!)

isabelle1903

This is my first post so please bear with me.

We currently have around £36k outstanding on our mortgage. £20k of that is an endowment and £16k is repayment. I can't do much about the 20k (think we have 11 years left) but I can overpay on the 16k. Do you think say £50 per month is worth doing. I'm not working at the moment as recently had a baby so not much spare cash.

Thanks for reading.

zavarony

isabelle1903 wrote: »

This is my first post so please bear with me.

We currently have around £36k outstanding on our mortgage. £20k of that is an endowment and £16k is repayment. I can't do much about the 20k (think we have 11 years left) but I can overpay on the 16k. Do you think say £50 per month is worth doing. I'm not working at the moment as recently had a baby so not much spare cash.

Thanks for reading.

HI Isabelle,
Any OP however small it seems will make a huge difference to the term of your debt, it might be worth looking at a mortgage calculator to see how much of a difference it will make so you can get a realistic outcome, theres some listed on the thread somewhere or you could try the egg one at

http://www.egg.com/visitor/0,2388,3_54988--View_1028,00.html
you just need to put in your details and it will work it out for you;)

Hope that helps..... if you want to sign up for the 2009 thread PM me and I will add you to the list.

Zav

zavarony

I've spoken to my mortgage company this morning to work out whether it is worth paying the penalties associated with over paying my mortgage before April 2010 when the tie in runs out, to find that all along I have been able to pay a higher monthly payment without incurring any charges!!! it is only lump sum payments that I am not allowed to make, so I have changed the monthly payment to include a £228 OP instead of the £250 that I currently pay into my ISA and I will continue to pay £50 per month into the ISA to pay off in a lump when the redemption period ends. Feel like I could have made a bigger difference this year than I have already but am greatful that I found out now and not 2 years down the line..... so my OP for Novemeber is £278 which brings my total for the year to £2828 - only £172 away from my target

Zav

Herewegoagain

Hiya guys,
Sounds like your all doing well, every little helps eh!

I've not been on for ages, so sorry If I've missed any deadlines.

I've been on to my mortgage company today and with the interest rate drop my monthly payment has gone down by £35.15, great eh!

Also the amount now owing is, Wait for it he he £80,268.00, wow much more than I thought since I last looked:j :j :T :T
I get so excited, like a big kid. My next payment of £1100 will go out on the 14th making this months OP of £707.70:T :T :T :T :T :beer: :j :j
Before the end of the year I hope to make an extra payment on top of OP but not sure how much yet:cool:

moonflower_2

Hi everyone,I am a newbie,so I sory if this posted in the wrong place.

Do you know when the recent mortgage interest cut will be introduced?
I want to make an OP ,and think that I should wait until then,what do you think?