2008 MFW newbies

Squiggly_Diddly

Gosh, there went another month..... where is the year going???!!! Anyhow, done another £100 today, so that makes £500 for this year so far. Added to which my mortgage drops every time the interest rates do

Hope everyone else is doing ok in their challenges!!

EDit - Congratulations BellsBells!!!!!! Lovely news And you are due on my birthday - well planned!!!!
Hope you aren't feeling quite so sick in the mornings now....

cookie334

Hi all

I'm keen to join you all but I don't have a mortgage that I can overpay into regularly. I do, however have a bank account that I don't use, well... I'm using it just now to put spending money away for our holiday in 2 weeks, but would it be ok to just pay money into that regularly and then just pay it in at the end of the year and post updates with how much I have in the account instead?

If that's ok then I will aim for an extra £100 per month starting in June, so hopefully £600 by the end of the year. Is that how it's done? Or is it a year from when I start? Sorry for being a pain!

bellsbells

*jobags* wrote: »

Hi can I join?

I currently have a mortgage of £277,005 with Northern Rock

Fortunately there is no limit on overpayments and we are currently stripping our savings and investments and chucking them into the pot - I aim to overpay £40,000 before our fixed rate period ends in December and thereafter I will be overpaying by £400 each month - one of the criteria for a new mortgage will be the ability to overpay.

I must admit I had never thought about overpaying until I came here, I just thought our mortgage would be with us forever

I want to be under £50K by the time I'm 50 (2013) but MF in 10 years

Jo

hi jo and welcome to the thread - I love your sig by the way. It is soooo true. I would be a lot better off if I had discovered this place a couple of years earlier! Never mind, at least I found it!

bellsbells

RHHitch07 wrote: »

Right guys, I am up for this challenge!

I have 45k I need to get paid off first and I want to have it paid off by Dec 2009 then I will be moving onto my mortgage - its a whopper so it won't be easy.

I am going to have to really work hard on this one. Thank you to everyone for the encouragement, I have read all your posts and they really help!!

Any ideas on savings?

not sure about the savings RHHitch - have you tries the savings and investments board? Are you planning on trying to overpay this year on your mortgage or is it top priority on the debt? Let me know if you want to be added to our list or if you just want to lurk until you are ready to join 'fully' as it were! You can be added to the list even if you are not sure about overpaying this year if it will give you inspiration and motivation!

bellsbells

laurar3 wrote: »

Hi, new to MFW but would like to join, I have a offset mortgage BOE+0.44 I am currently offseting £28k in various accounts. Mortgage balance is now £111954 and was overpaying by approx £70 for a few months but have now made my first lump sum of £250 quite exciting doing that, hubby wasnt really bothered but I was. Can I please be added to the roll. Thanks

Hi laurar and welcome. You are added to the first post - what is your target for the year??

bellsbells

cookie334 wrote: »

Hi all

I'm keen to join you all but I don't have a mortgage that I can overpay into regularly. I do, however have a bank account that I don't use, well... I'm using it just now to put spending money away for our holiday in 2 weeks, but would it be ok to just pay money into that regularly and then just pay it in at the end of the year and post updates with how much I have in the account instead?

If that's ok then I will aim for an extra £100 per month starting in June, so hopefully £600 by the end of the year. Is that how it's done? Or is it a year from when I start? Sorry for being a pain!

that is fine cookie - a few other posters are doing something similar as they can only pay into their mortgage once a year. I will put your total down as £600 for the year. Welcome!

bellsbells

Welcome to Cookie334 - the 100th person to join this thread:beer:

Sosh

Just had some great news. Hubby has been promoted at work, with a £4k payrise. As he's a teacher, the promotion won't start until September, but we've agreed that we can live without the extra money so it'll go straight off the mortgage.

newmoneysaver_2

Woohoo! Fantastic news. Well done Mr Sosh

abouttimetoo

Hi all

Just to say I've made my May overpayment today of £300 :T

Wishing you all well with your own OP's