Adding value before making over payments

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  • MichaelDH
    MichaelDH Posts: 154 Forumite
    First Anniversary Combo Breaker First Post
    I called the Coventry this morning to get the details needed to make over payments. Just made our first over payment of £40, and set up a a standing order for £331.92 :)

    Not a huge amount but it's a start. Balance should now be £166,248.64 :eek:
    Starting Balance August 2016: £170,199.00 | Remortgaged August 2018: £212,000.00
    Current Balance (15th February 2019): £209,278.85 :eek:
    Target: Balance below £170,000.00 by August 2023 :)
  • wildesavings
    wildesavings Posts: 176 Forumite
    First Anniversary Combo Breaker
    MichaelDH wrote: »
    I called the Coventry this morning to get the details needed to make over payments. Just made our first over payment of £40, and set up a a standing order for £331.92 :)

    Not a huge amount but it's a start. Balance should now be £166,248.64 :eek:
    :T:T:T:T Congratulations on your first overpayment! It will get addictive ;)
    Started my MFW journey in August 14 : £103,650
    2019 : £77,900
  • MichaelDH
    MichaelDH Posts: 154 Forumite
    First Anniversary Combo Breaker First Post
    wildesavings wrote: »
    :T:T:T:T Congratulations on your first overpayment! It will get addictive ;)

    Thank you - I'm hoping so! :)

    Just said to Drew that it would be great if we were mortgage free by 40, which is very unlikely considering he's already 33 and I'm soon to be 32, and we plan to increase mortgage next year :rotfl:
    Starting Balance August 2016: £170,199.00 | Remortgaged August 2018: £212,000.00
    Current Balance (15th February 2019): £209,278.85 :eek:
    Target: Balance below £170,000.00 by August 2023 :)
  • wildesavings
    wildesavings Posts: 176 Forumite
    First Anniversary Combo Breaker
    Never say never - find a goal that you need to stretch for and go for it :)
    Started my MFW journey in August 14 : £103,650
    2019 : £77,900
  • Kittenkirst
    Kittenkirst Posts: 2,563 Forumite
    Photogenic Name Dropper First Anniversary First Post
    Wahoooo go you on your Overpayment!! That's £40 you'll never pay interest on again!

    Also im impressed with the dominos resistance but agree yourhomenade pizza sounds far tastier and more budget friendly! :D

    Have a fab weekend x
    First home- Oct’16 until June’21: £170.995- Overpayments made £13,784 (25% extra!).
    New forever home- Sep’21 £309,449 @ 2.05%. Plan to clear it before 30 years!!!!!!
  • MichaelDH
    MichaelDH Posts: 154 Forumite
    First Anniversary Combo Breaker First Post
    Kittenkirst wrote: »
    Wahoooo go you on your Overpayment!! That's £40 you'll never pay interest on again!

    Also im impressed with the dominos resistance but agree yourhomenade pizza sounds far tastier and more budget friendly! :D

    Have a fab weekend x

    Morning KK

    I was checking the mortgage account every two minutes waiting for the balance to change. Massively satisfying to see the balance go down, even if it was only very slightly! I can really see money saving and making over payments could get addictive :)
    Starting Balance August 2016: £170,199.00 | Remortgaged August 2018: £212,000.00
    Current Balance (15th February 2019): £209,278.85 :eek:
    Target: Balance below £170,000.00 by August 2023 :)
  • MichaelDH
    MichaelDH Posts: 154 Forumite
    First Anniversary Combo Breaker First Post
    Oh what a beautiful sunny morning it is here!

    Just ventured out to check the mail box as forgot to check it yesterday (we have one mounted to the wall) and inside was a letter from our local Wyevale Garden Centre containing reward vouchers - £16.50 in total so very pleased with that!

    Also a few money off vouchers inside, most of which I probably won't get to used, but I will definitely use the one for a free hot drink! There's also a voucher for Pets Corner, a concession within the Garden Centre where we buy Oscar's food, for £10 off when you spend £50, so Oscar's next bag of food will now be £52 instead of £62 :)

    Who knew that money saving was so easy! :rotfl:
    Starting Balance August 2016: £170,199.00 | Remortgaged August 2018: £212,000.00
    Current Balance (15th February 2019): £209,278.85 :eek:
    Target: Balance below £170,000.00 by August 2023 :)
  • MichaelDH
    MichaelDH Posts: 154 Forumite
    First Anniversary Combo Breaker First Post
    Just a quick midweek update:

    - Small Asda shop completed (around £25) but checked receipt today and printed off a voucher for £1.67
    - PineCone survey completed (£3) and payment requested
    - My Prolific back up to £10.05 balance and £4.40 pending
    - Drew's prolific has £21.00 balance and £3.70 pending
    - Pay day for us both tomorrow so looking forward to first big OP going out on Friday :)
    Starting Balance August 2016: £170,199.00 | Remortgaged August 2018: £212,000.00
    Current Balance (15th February 2019): £209,278.85 :eek:
    Target: Balance below £170,000.00 by August 2023 :)
  • MichaelDH
    MichaelDH Posts: 154 Forumite
    First Anniversary Combo Breaker First Post
    Happy 1st of the month! :)

    Meter Readings for Gas and Electricity submitted this morning, for the first time since we switched supplier on 13th July.

    Gas - 158kWh
    Electric - 444kWh

    Currently showing £78.90 credit but I think that's including this month's payment which means we are probably only 40p in credit :rotfl:
    Starting Balance August 2016: £170,199.00 | Remortgaged August 2018: £212,000.00
    Current Balance (15th February 2019): £209,278.85 :eek:
    Target: Balance below £170,000.00 by August 2023 :)
  • newgirly
    newgirly Posts: 8,938 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Hi Michael dh, happy first of the month to you too :)

    I think you should set a challenge to clear it by 40, if you don't get there it's not the end of the world and at least you will be closer than you would have been perhaps.

    Have you / Are you going to join the mfw yearly challenge? I'm not even halfway to this year's target which I set very high, but I'm still oping more than usual, I think it helps having to update and see it listed if it says im "slipping" form target.

    I feel your pain with meter readings, Ive had to top up £100 recently as we were in deficit, considering it's been hot for ages it doesn't bode well for winter :eek:
    2022 MFW 67 - 33 month challenge to clear mortgage, month 17 completed and and extra 2 knocked off 🙂MFI3 No.12
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