Whoop, whoop! I am going to start overpaying!

Gillybean

Until recently I've been a SAHM. But I have now taken on some part time temp (poss permanent) work.

We manage fine on just DH's salary alone, so after nursery fees I've got at least £200 per month spare. Now of course I've treated myself a little, and what I've earned so far is going to pay for blinds for our new conservatory, but after that I'm going to plough the cash into paying extra off our mortgage.

We're in the process of swapping to a better deal at the mo, so I'm just putting the money aside ready.

Am very excited about being able to contribute and make inroads into our mortgage!

BACKFRMTHEEDGE

Good luck from me too:T

~daisy~_2

oh well done !! its great to over pay each month and see that balance coming down and down

moggitymog

well done, good luck with the overpaying.

evab_2

well done, you will enjoy seeing that figure come down every month!

nicolarichard

Good luck with that - i have also just made my first 10% (allowed!) overpayment and will continue when my current tie in ends in October. :j

setmefree2

Good Luck:j

Up_the_Creek_4

Well done, good luck. How much will the new deal let you pay off, what's the strategy?

SuiDreams

I remortgaged a few months ago and managed to cut my term by 3 years. I'm only manageing to over pay by £15 a month at the moment, but every little helps I suppose. My other debt is almost gone, but am going to concentrate on savings this year, then hopefully next year, I'll be able to overpay by a little bit more.

MBADaruma

Hi there,

completely overhauled my finances this year: offset mortgage, life insurance, gas/electric etc..Created a cashflow spreadsheet for the year! This is all taking over my life and the way I view and spend money.

Just about able to overpay my mortgage. It's been great to hear all your stories and strategies. My offset mortgage with First Direct is great. I can overpay however much I like and I'm taking advantage of a virgin credit card to form a 'stoozing' pot! Can't afford another virgin credit card on my wife's name to form a greater stoozing pot - any strategies on this would be greatly appreciated.

BTW. Tesco's 0% credit card for Tesco shopping/fuel is great! Awarded over 2000 points per period compared with 700 per period previously.

Gillybean

Thanks for the support guys,

UpTheCreek, I don't really have a strategy. I can overpay, I know that and can set up a standing order to make a regular payment or send a cheque.

I'm going to open a new savings account for the money to go into and I think when we've got a decent amount I'll just send a cheque. Providing it's less than 2k at a time we wont be charged for doing this.

Scuttles off to look for good savings accounts....