2008 MFW newbies

LouiseJ

I am back after a bit of a period of upset.

All sorted now though so I am trying to get back on tracks.

I too am going to throw as much at the mortgage while my rate is low down to a fabby 3.24%:j I want to make the most of it before it goes back up again, which it will at some point.

So this month I have sent off an overpayment of £522.

Only 1 more month to go.........how this year has flown.

Herewegoagain

Hiya bells
Made my £707.70 OP on the 14th, but as the rate has changed, it could be a bit more. I haven't got time to check it at the mo but will update sig when I have.

HWGA xx

abouttimetoo

Hi all

I've just made a £677.37 OP to the IO part and a £68.46 OP to the repayment part; it's only the second time I've made an OP to the repayment part as I usually concentrate on the IO but this month I wanted to make the payment up to what it was before the rate drop.

So, so far this month I've made total OP's of £745.83 and I'm anticipating making another next week which I will round up of course:D

My target for OP's this year was £2700 but I've now made £4095.83 so I'm at 152% of target and really pleased :j

Hope you are all doing well with your own OP's this month

kittykat

Hi There - new to the Mortgage Overpayments but...

We have just used a chunk of savings to pay £38k off a £203k mortgage....

Our tracker deal has another year to run, so we are on 3.17% until November.

We have signed up to overpay £250 each month, and plan to make as many overpayments as possible before November. My OH wants to pay off the whole lot inside 3-5 years - when the last DD leaves school

The current estimate from the Egg overpayment calculator is that this reduces the term by about 6.5 years

Still in state of shock from how much this has reduced by (and the 20 mins on hold at C&G to get through to someone sensible, well anyone at all actually!)

bellsbells

ShelleyC wrote: »

I've signed up for the 2009 group but thought I might as well start early!

So £250 going into reg saver this month & next. Plus I've put £500 into an instant access savings account. Looking into opening another regular saver too :j

All going towards increasing the deposist I'll have when I finally get back into the property market.

welcome to the gang shelley!

tootallulah

Bells


Many congratulations on the birth of your son. I hope you are feeling well. Good luck.

emma_nottingham

Hi everybody. Not posted on this forum for a while due to difficulties with finances and other stuff. However just like to say that I have reached my overpayment target for the year. Aimed to reduce my outstanding balance to £69,000 and as of today my balance is £68,984.80. Still got one more repayment due before the end of the year so that could improve still. Really pleased to hear today that HSBC are reducing their SVR from 6.25% to 5.44 % so hopefully I can get off to a good start for next year. Speak to you more on the 2009 board

ShelleyC_2

bellsbells wrote: »

welcome to the gang shelley!

Thank you. Hope you and baby are doing well

waves117

Hi everyone

just made my November Overpayment £962. Hopefully this will knock a couple of months off the term of my mortgage. :j


congratulations bellsbells on the birth of your son........ you deserve a rest!!

MFW 158...

uzubairu

Hi Everyone,

Just declaring my November overpayment of £600 by standing order.
Sneakily paid £100 more than the £500 limit and no charges have been applied (definitely sure of that).
Total for the year so far is £4,500.

From December, our monthly mortgage payments will be £765 (instead of £646) because we have reduced the term of the mortgage again.
Getting a little closer to being mortgage free in 2016.

Overpayments will still be £500 by standing order.