2008 MFW newbies

zavarony

HI Elantan,

I took out the A&L Isa in March, and pay in £200 per month but you can add extra to it whenever you want, the internet site is quite good too so you can see the balance going up each month - quite motivating... I cant overpay my mortgage until 2010 so thats where the payments are going until then...

SOSH - I too am waiting from that date, although at the moment it seems to be avery very long way off :@)

Zav

bellsbells

abouttimetoo wrote: »

Hi Bellsbells

I've been lurking around this site for the last two weeks and now feel ready to put my name down in black and white on your thread

My early plan is to overpay by £1500 this year but I should have a proper plan worked out soon so might adjust that (hopefully upwards) if that's alright with you.

Many thanks in anticipation
Best wishes

welcome to the gang abouttimetoo:T

bellsbells

twinklie wrote: »

So it looks like saving for a rainy day was a good idea....my OH has no job come August and isn't going to complete his job.

Therefore unless I get one, neither of us will be working!!! ARGH!!! Slightly stressful!

oh gosh twinklie, that is major stress. A lot can happen between now and August however so hopefully you will be able to get something sorted. Fingers crossed

bellsbells

sreppaw wrote: »

Hi all,

A little bit about me, 113k offset mortgage from June 2006. I am 25, looking to hopefully start a family soon.

So far between us we have been overpaying by about £700/Month. Although I think if we really tried we could perhaps scrape together another £300, it would be a very boring existance!

I expect that would change if we have a baby... so perhaps we whould make more of an effort now :eek:

welcome sreppaw:j

bellsbells

aliwali wrote: »

Sorry not sure what I did there.

Anyway even with this increase, I am still hoping to throw all my overtime at my mortgage this year. So I guess realistically I am looking to make an overpayment of around £1000. It isn't a lot but it seems really sensible to chip away at it and pay less interest in the long run.

I look foward to reading your journeys.
Alison

remember - every little helps:rotfl: It might not seem like a huge amount but when you factor how long mortgages are it will save you a huge amount of interest!

newmoneysaver_2

Elantan,
Thats something I need to work on ~finding a balance between mortgage/savings/working on the house.
At least with Natonwide I can ask for all or part on the overpayments whenever I need.

elantan

it's the nationwide i'm with for my mortgage also i only pay 4.69% interest as well so cant complain ...but having just graduated from dfw i am determined not to have to go back there for anything other than chat and advice (tell that to my overdraft lol) so i am getting the isa on the way but i still wont class myself totally df till i pay off this mortgage so as you say newmoney saver it's finding that balance working on the house ...well that's a whole other ball game ...i need to spend thousands just on repairs not improvements i have started a savings account for that but can only afford to put £25 a month into it my mortgage coming down is more important to me and so is the savings ...but one day i will be able to add to the £25 (surely)

zebedy

Hi,

I've lurked and asked a few questions on this board for a while and now my remortgage has come through i'd like to join and get started on my MFW journey.

Aim for this calendar year is to overpay £5000 (bit this is quite ambitious as I'd like to save £3600 to go into an ISA too, so even if i only overpay by £1400 i'd be happy). Aim high!

if you need more details please let me know

mrs_binsky

Hello, I've been chipping away at my mortgage for a few months now and this thread is just what I need to keep me motivated. Have overpaid £3500 in the past 7 months, I probably won't be able to keep overpaying at that level but I aim to keep the food budget on a tight leash and use any underspend to overpay the mortgage.

SAVVYMUMMY_2

Just a quick update and will change sig in a mo. Saved another £20, this is from changing car insurance and also saved £25, by not having my haircut at hairdressers(I used to cut hair approx 15 years ago and last time I went to the hairdressers about 2 month ago it was £25:eek:). So money saved will go towards over payment on mortgage.:j