2008 MFW newbies

elantan

Snaggles wrote: »

Right, okay - ready to set my target. My total secured borrowing (mortgage and secured loan) is currently £37k. So my 3 year target is going to be to get under the £25k mark....gulp!!

Might have to re-adjust my target if we move house, but that's what I'm aiming for at the moment.

oh my snaggs that is a biggie ...good luck with it

bellsbells

abouttimetoo wrote: »

Hi bellsbells

Sorry if I missed it somewhere in the thread but could you let me know which date in the month you need the update for; do you have a preference that makes it easier for you?

Many thanks
abouttimetoo

whenever you like abouttime - some people (like me for example) update near the start of the month when their regular monthly mortgage payment plus regular overpayment amount goes out. Others who might be making odd overpayments here and there over the whole month just let me know as and when - it really does not matter. I usually clear the whole first thread ready for the next months totals on the first of each month.

bellsbells

gillian46 wrote: »

I'm new to the forum but I am trying to pay of my mortgage as soon as I can (still likely to be a long time away, haven't worked it out yet). I have a question , I had to take out a second mortgage on the house to buy my exOH off in 2004. Both my mortgages are on the same deal with Nationwide on a tracker morgage. Will it make any difference to my Morgage Free date if I do the same overpayments to each mortage or should I pay off the smaller one first?

not sure about that one gillian - it might be worth starting a new thread so that others can see your question - you might get a few more ideas that way.

Snaggles

Oh, sorry - just realised I didn't say what my goal for this year is - it's to get the mortgage under £32k.

violetblue

Hi all!

Haven't posted for ages, but I have been reading and it's great to see loads of new people joining in. Everyone is doing brilliantly! :T

Still no more overpayments from me for a few more months, but my "overpayment fund" savings are growing nicely (see my sig!) I don't want to count it as actual overpayments though until it's paid off or at least offset - at the moment it's just sitting there earning me lovely lovely interest.

I had it in my head that my current deal ends at the beginning of July, but having dug out the paperwork this week I realised it's not till August. And I was really looking forward to getting my next deal sorted!! I rang up about one deal anyway, but was told that I would have to wait another month to apply (eager, moi?!:p ) as they could only hold it for 3 months at the most. Oh well, it was worth a try. Roll on May!

Have taken on a bit of overtime this month (not often available where I work so I grab it when I can) and I'm also due a pay rise, so hopefully that will be a bit extra towards the mortgage fund!

mitchg

I think maybe time for me to post here too, Mortgage free wanna be is me ohh and so so nearly there, got my champers on ice for the summer bbq celebration...will be 8 years early the last 3 or 4 i have made great inroads and i spead the word on overpayments but not so many people listen.. why oh why dont they listen and look here instead of looking at what ever they look at???

49clare

Made my very first overpayment at the beginning of April and what a great feeling it was!!!Our mortgage is £55,000 and I am overpaying by £400 a month.Hopefully bringing it down to 6 years instead of 16 years.One month down, lots to go!!!!!!But v proud.

Butterfliesarepretty

Hi please add me on - going to start overpaying by £50 a month to my £46,000 mortgage at 6.13% over 19 years. If I get a good paid job I will be paying off more. So target is to pay £600 extra by march.

LouiseJ

Just sent first lot of overpayment for April for £180, should have some more to send by the end of the month. Keep up the good work everyone:T :T :T

bedhair

Hi Bellsbells.

May I join you?
I have been overpaying my mortgage for a year now and have only just found this thread. Please may you set my yearly target at £1500 (just starting maternity leave) and record that I have already overpaid £300 this year (Jan - March.) I will be paying £150 on April 27th.

Thank you