2008 MFW newbies

Gazella77

I pulled myself together to go to A&L and check my previous year ISA's rate, got a bit of a shock to find out it was at 3.5% rate! So transfered it to put into my mortgage (5.6%) but when I started asking questions at C&G branch I got furious - they couldn't tell me the difference between the capital payment and repayment, I asked if anything over 1000 is classified as a capital repayment (and hence require £10 admin fee) ad if I paid lets say 3 times £900 in e.g. 3 consecutive days I'd be free of admin charge. I can repay up to 10% annually not to be penalised.
They couldn't tell me, called some manager and was told that it depends how the head office will treat it as actually anything over normal monthly repayments may be treated as a capital overpayment depending how somebody at the other side will treat it:mad::mad::mad:

So finally I paid in another £900 and left with over £2000 in my pocket not knowing what to do exactly.

This brought me to total of £2980 this year which is good but I still have over 2000 I could pay in.

Has anyone been in such a situation?

Courgette

So, last day of the challenge. I wanted to OP by £2000 but to be honest this was a figure plucked from the air as at the point when I joined this challenge I was still at uni and didn't know whether I'd get a job straight away or not.

I did and have smashed my OP target by £719.47, meaning that I have overpaid by £2719.47 hoorah!!! :j

I'm especially pleased with this as I didn't work over summer at all and had to live off a tiny income.

Here's to more success in 2009!!! Can't wait to see the totals for everyone on Jan 5 :beer:

Courgette

belfastgirl23

Wow haven't we all done well! We should give ourselves a pat on the back!

bellsbells

Keep those final totals coming everyone! I have no idea what our total overpayment is going to be but I thing the number is going to be big:D

zavarony

bellsbells wrote: »

Keep those final totals coming everyone! I have no idea what our total overpayment is going to be but I thing the number is going to be big:D

OOOO - I cant wait !!

My total for 2008 - I think I PM'd you but cant be sure - is £3200

Thanks
Zav

Juli

Unfortunately I didn't manage any OP in Nov and Dec, so my final total for the year stays at £3950.
Thanks for running this thread bellsbells, and Happy New Year everyone.

poppyoscar_3

My total for the year stayed as £1666 - below target but with everything else that's going on I'm pleased with that. Onwards and upwards this year!

Thanks bells for organising and happy new year!

PO xx

fluffysox

Hi everyone and happy new year:p

Our final overpay total for 2008 is £4939.
Not sure what 2009 will bring as I've been thinking about an extension- either way i'll be there on the forum paying off as much as I can;) . Good luck to you all for the coming year, I can't wait to see the final figures for 2008:j

abouttimetoo

Me too - can't wait to see our figures. I know the MFIT'ers have now paid off in excess of two million pounds! :j

bellsbells

Last day for totals folks - tomorrow is the day!:D