2019 Mortgage-Free Wannabes

Nest · 7 June 2019 at 2:56PM

Hi Its June and i'm new here so need a number, and I'm wanting to start with a target of £4,000 for the remainder of the year, which is a bit of a stretch. I'm excited to have some accountability buddies. thanks for adding me, Nest

julicorn · 7 June 2019 at 5:34PM

pinknsparkly wrote: »

Number 99 checking in with a total for May OPs of £4621.70. This should finally take me out of the "we're slipping!" category

I set up my S&S ISA in May, which accounts for the vast majority of this OP - whilst interest rates are low, I am intending to invest the majority of the money available for "OPs" into a "mortgage neutral" investment pot instead. I am viewing this as being the same as overpaying my mortgage, with the additional hope that it will give a bigger return than overpaying my mortgage would. I am still making, and will continue to do so, little ad hoc overpayments from Tilly tidies, savings interest, TopCashBack payments etc.

Well done, and congratulations on your big overpayment! Would you like me to adjust your savings goal?

julicorn · 7 June 2019 at 5:37PM

Nest wrote: »

Hi Its June and i'm new here so need a number, and I'm wanting to start with a target of £4,000 for the remainder of the year, which is a bit of a stretch. I'm excited to have some accountability buddies. thanks for adding me, Nest

Hi Nest, welcome to the challenge! You're our #102

Tartan_Mum · 8 June 2019 at 11:21AM

Hello! June OP made for a total of £501.96 to end up with a round figure. My total 2019 OP are now £2,558.60
I've already smashed my target for the year which I now see was too low.
Juliecorn - would it mess things up if I up this year's OP target to £4100?
This would take my balance down to the next 10 thousand.
Feeling pretty motivated thanks to the accountability here and checking in on everyone else. Thanks Juliecorn for hosting! :beer:

taka · 8 June 2019 at 6:59PM

Suffolk_lass wrote: »

Slight aside to our payments - has anyone on here considered how to reduce the redemption fee and admin fee when paying off your mortgage? We stayed with friends at the weekend who have left their mortgage to run its full course and pay 42p a month.

I'm with Nationwide and I'm on the BMR so no early repayment charge. Also as my mortgage is now within 10 years of the original end date so I'll have no mortgage exit admin fees to pay either. As I live in Scotland I think I need to get a solicitor involved to discharge the security charge on my property when my morgtage is done though - seems like £300+ is a likely cost. Joy... :cool:

lindez · 8 June 2019 at 8:44PM

Good evening all.
#44 with over payment for June £261.00 will try and top up throughout the month.
Thank you Julicorn.

Cherryfudge · 10 June 2019 at 10:16AM

Number 30 with an initial June OP of £258.51, thanks Julicorn.

Hoping to round that down at the end of the month as that would bring my mortgage under five and a half thousand.

MrsMouse · 10 June 2019 at 2:02PM

Number 47 checking in with an overpayment of £46.94 please, which should bring my total so far this year to £543.49

julicorn · 10 June 2019 at 3:16PM

MrsMouse wrote: »

Number 47 checking in with an overpayment of £46.94 please, which should bring my total so far this year to £543.49

All logged! I'm 'only' getting a YTD total of £542.59 though, just wanted to check if I'm missing any if your overpayments? It's just 90p, but just wanted to make sure it's all up to date :rotfl:

MrsMouse · 11 June 2019 at 12:55PM

julicorn wrote: »

All logged! I'm 'only' getting a YTD total of £542.59 though, just wanted to check if I'm missing any if your overpayments? It's just 90p, but just wanted to make sure it's all up to date :rotfl:

Probably my mistake. I've changed my signature of £542.59. Thank you

2019 Mortgage-Free Wannabes

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