How to be mortgage free after 8 years

Caixta

OH checks our mortgage statement (currently with Woolwich) online. Every overpayment shows up on there a couple of days after it has been made.

As the interest is calculated daily, the amount owing creeps up all through the month before it gets whacked down hard with the regular monthly payment.

At least the total amount is creeping up by less these days, since we have been overpaying. OH tells me we are now saving £2 per day in interest! :j

halloweenqueen_2

I wonder whether i can look at mine online, although I probably turned it down as I'm not keen on online banking!! Takes all the fun out of getting my statement, although i'm still waiting for it!

comping_cat

I keep trying to register with Northern Rocks online banking, but everytime i try, it makes my computer freeze!!!! It is a pain, i would love to be able to check on my mortgage more often, to see how well im doing!!!!

BoltonMinx

Ive been inspired to make overpayments so I've set mine up weekly. I'm with Nationwide so my interest is calculated daily, I'm hoping £25 per week will knock more off than £100 per month. Is that right?

Thefunkygibbons

Have you used one of the mortgage calculators (see font page sticky) to see what it will be worth

halloweenqueen_2

Hoping to get my mortgage statement today, I'm making it my ambition to double my mortgage payments each month, I managed in April and May to pay it, I'm nearly halfway there this month! its amazing how much it focuses your mind on the stuff that you would normally buy. I cut one of our sunday newspapers out, it will only save me about £35 a year but I really having missed it at all!!

BoltonMinx

Thefunkygibbons wrote:

Have you used one of the mortgage calculators (see font page sticky) to see what it will be worth

Ive tried it with £100 per month and it looks good. Will see if there is one that lets me work out a weekly figure

halloweenqueen_2

Everyone seems to be going on holiday and I'm stuck making overpayments, Oh well, if I can free myself in 5 years which is my ambition now I can travel more then!! Good for you BoltonMinx, I'm going to arrange a standing order straight into my mortgage account but that probably won't be this year, i'm doing OK with overpayments but mainly through selling on ebay/amazon and a few odd jobs, but I really haven't got any spare money to siphon off from my bank account yet.

gallygirl

halloweenqueen wrote:

Everyone seems to be going on holiday and I'm stuck making overpayments, Oh well, if I can free myself in 5 years which is my ambition now I can travel more then!! Good for you BoltonMinx, I'm going to arrange a standing order straight into my mortgage account but that probably won't be this year, i'm doing OK with overpayments but mainly through selling on ebay/amazon and a few odd jobs, but I really haven't got any spare money to siphon off from my bank account yet.

At the rate you're overpaying you don't b****y need to!!!!!

Just teasing you're superb, an inspiration to us all. I managed £16.78 today!:j

halloweenqueen_2

Lol, thanks, was feling sorry for myself, but I've gone outside in the garden and sat in my free sunshine!!!