2008 MFW newbies

Di-Dough

Hi Twinklie:hello:

Its great to see more people joining in:D

Di

torbrex

Hi Twinklie

There can be a fine line between saving for future troubles and clearing up the troubles that are here and now. I was in your position many years ago and chose to save rather than reduce my mortgage, twice I had to fall back on my savings just to live from day to day but got through it with both my sanity and some of my savings intact.
I am now in a position of having to decide whether to pay off my morgage or save for early retirement, I am doing both, it is about a 60-40 split in favour of paying the mortgage working on the theory that if I get that paid off quicker I can use the interest saved towards my retirement fund.

Good luck for the rest of your year and welcome on board.

poppyoscar_3

Hi Everyone

I have been into the Halifax today and paid off another £95, which brings my total to date £500.

I'm well pleased with that!:D

It was soooooooooooooo satisfying. The cashier asked me if I wanted to lower my payment.......... NOOOOOOOOO! Just reduce the term!!!!!!

PO

MF2015

I've been working out of the country so have not had chance to get to the bank until today.

I realised this is a potential problem and I could be using telephone banking to pay off lump sums when available so I went to my mortgage provider, Abbey and opened an account with them. Good interest rate by the way 8% AER for 12 months! My pay will go direct to this, then I can make over payments no matter were I'm working and making the most of the money.

So today I paid off £1750, had some large outlays last month and hopefully I can pay more off later in the month. :T

God it feels good. :j

twinklie

Awww thanks for the support and welcoming me guys. I'm hoping to get my statement through about our mortgage soon. The annual one that is. I know I could just go and ask for one, but since the overpayments aren't gonna happen for a while I'm happy to wait for it.

Still, it's exciting! Just joining the group has made me feel more productive on the paying off front! Yey!

kezza12

i can't wait to get my annual morgage statement to compare it to last years!! hope theres a big difference as i've been over paying for a year now:j

bellsbells

Welcome Twinklie - I have added you to the list:j

twinklie

OOOh I'm all excited now I'm on the list....yey!

aliportico

We've been thinking about this for a couple of months, and have now made a plan I've started working part-time (very part-time!) so we've got some money to spare now.

We've got 13y6m until our mortgage is paid off. I'm aiming for a minimum of £200 a month, which will pay it off about 3 years early. But my oldest (we've got 4 kids) turns 18 in 7 years, so the earlier the better so we can think about university/whatever

So this year I want to overpay our mortgage by £2000. There, I've said it now! :eek:

LouiseJ

I have just sent off £350 to the A&L for an overpayment and have contacted them to take an extra £40 every month from now on which is OH pay rise. (you don't miss what you've never had).

So thats £390 overpayment for February:j