Party of Five's Overpayment Adventures

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  • Takeaway_Addict
    Takeaway_Addict Posts: 6,538 Forumite
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    CrowdieSaver wrote: »
    Well, my plan to post here and overpay regularly well and truly went out of the window...it's been a rubbish few months, what with one thing and another....lots of unexpected bills (house emergencies etc) which have eaten away at my savings pot, and left me no chance to overpay at all...and the new job turned out to be too good to be true as well....I start another new job in the New Year...hopefully this one works out better than the last one..! It's more money each month so I have revised my plan accordingly:

    Overpay £250 each month
    Save £200(ish) each month

    The rest of my monthly money will go on bills, virtual pots and food. Should be do-able...but will be tight, but I'm used to that anyway, and I've joined the 2019 MFW challenge to keep me accountable...

    Here I go again.....fingers and everything crossed it works out this time.... :)
    Personally I think you beat yourself up to much, you may not be overpaying but you're not going into debt to sort out issues. That you should see as much more of a positive.

    Keep going forward.
    Don't trust a forum for advice. Get proper paid advice. Any advice given should always be checked
  • CrowdieSaver
    CrowdieSaver Posts: 100 Forumite
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    Thanks Takeaway_Addict and Greent for your kind words.... you're right, I am always too hard on myself and should be giving myself a pat on the back....I need to think more positively in 2019 and remind myself how far I've come and what I've achieved... :)
    Mortgage at Jan 2009 (when house was purchased): £75,000. Mortgage at Jan 2017 (when I could start overpaying after 7 year relationship from hell ended): £60,000. Mortgage at March 2024: £23,199. 2024 MFW #49: £1,585 / £3,000. Previous Overpayments: 2023: £2,850. 2022: £3,100. 2021: £2,540. 2020: £3,350. 2019: £1,950. 2018: £250. 2017: £500.
    Mortgage freedom can’t come soon enough!
  • CrowdieSaver
    CrowdieSaver Posts: 100 Forumite
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    To start the New Year as I mean to go on, I've just been to the supermarket and spent £5.00 on lots of lovely yellow stickered items, including fruit, vegetables, salad items and mature cheddar. Am planning to make a variety of meals with these, which include tomato, red pepper and chilli soup, carrot and kidney bean burgers, vegetable moussaka. We also have a large chicken in the freezer which will need defrosting as my son and I are planning to have a roast chicken dinner with all the trimmings on New Years day (daughter will have a vegetarian alternative). All in all, we have enough food to last 7-10 days, but will need to pop out again in a couple of days for milk, but that is all.

    Now off to spend a happy hour or so creating my bills spreadsheet for 2019 and also an overpayment spreadsheet...is it sad that I'm looking forward to doing this?!?
    Mortgage at Jan 2009 (when house was purchased): £75,000. Mortgage at Jan 2017 (when I could start overpaying after 7 year relationship from hell ended): £60,000. Mortgage at March 2024: £23,199. 2024 MFW #49: £1,585 / £3,000. Previous Overpayments: 2023: £2,850. 2022: £3,100. 2021: £2,540. 2020: £3,350. 2019: £1,950. 2018: £250. 2017: £500.
    Mortgage freedom can’t come soon enough!
  • greent
    greent Posts: 10,671 Forumite
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    CrowdieSaver wrote: »
    Now off to spend a happy hour or so creating my bills spreadsheet for 2019 and also an overpayment spreadsheet...is it sad that I'm looking forward to doing this?!?

    Nope - I think many of us feel the same! :D
    x
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NIL
    Net sales 2024: £20
  • CrowdieSaver
    CrowdieSaver Posts: 100 Forumite
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    Happy New Year to all :)

    Been a lovely few days, have spent some lovely quality time with the kids, but back to work tomorrow..a new job and fresh challenges await, which I'm looking forward to, bit nervous, but hoping that it all works out this time. Fingers crossed.

    I have £470 in my overpayment pot, which I'm looking forward to overpaying next Saturday...will be wishing the week ahead away...this is from a mixture of money I received for Christmas, and money I made selling things on the Bay of E and also a small tax rebate! My mum told me to put my Xmas money from her towards something nice....so I am...! I dare not tell her where it is going, she would be appalled and quite angry with me I think...have mentioned my hoping to overpay to her in the past, and the conversation was very short and sweet, but resulted in her asking me what I wanted to do that for...even my sister rolled her eyes when I mentioned it to her once....I don't bother to talk about it now :(

    Anyway, I will keep plodding on silently, apart from coming on here regularly, at least you all understand...

    Hope you all have a lovely week x
    Mortgage at Jan 2009 (when house was purchased): £75,000. Mortgage at Jan 2017 (when I could start overpaying after 7 year relationship from hell ended): £60,000. Mortgage at March 2024: £23,199. 2024 MFW #49: £1,585 / £3,000. Previous Overpayments: 2023: £2,850. 2022: £3,100. 2021: £2,540. 2020: £3,350. 2019: £1,950. 2018: £250. 2017: £500.
    Mortgage freedom can’t come soon enough!
  • CrowdieSaver
    CrowdieSaver Posts: 100 Forumite
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    Whoop whoop! Today is a good day - made my first overpayment of 2019...£460 overpaid this morning! So excited, a small dent in the overall amount still to be paid off, but this overpayment will knock 2 months off my mortgage life, so I'm super happy today :j

    I'm aiming to pay £3k in overpayments this year, so only £2,540 to go....

    I won't be able to make the next overpayment until March, until my bank account sorts itself out and I've had my first full month's salary from my new job...it seems such a long way off!

    CS x
    Mortgage at Jan 2009 (when house was purchased): £75,000. Mortgage at Jan 2017 (when I could start overpaying after 7 year relationship from hell ended): £60,000. Mortgage at March 2024: £23,199. 2024 MFW #49: £1,585 / £3,000. Previous Overpayments: 2023: £2,850. 2022: £3,100. 2021: £2,540. 2020: £3,350. 2019: £1,950. 2018: £250. 2017: £500.
    Mortgage freedom can’t come soon enough!
  • greent
    greent Posts: 10,671 Forumite
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    Yeay! - brilliant start to 2019! :T x
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NIL
    Net sales 2024: £20
  • CrowdieSaver
    CrowdieSaver Posts: 100 Forumite
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    Just a quick update...

    I have managed to transfer my mortgage from the Spanish bank's SVR to a 2 year fixed mortgage, at a rate 1.89%, instead of the 4.99% I was on was previously. This will save me nearly £90 per month and a shed load of interest!

    Am really pleased with this deal. It will now mean that along with the £250 I am aiming to overpay each month, I can also overpay the £90 too!

    Roll on next mortgage overpayment day...

    Happy bunny this evening :)
    Mortgage at Jan 2009 (when house was purchased): £75,000. Mortgage at Jan 2017 (when I could start overpaying after 7 year relationship from hell ended): £60,000. Mortgage at March 2024: £23,199. 2024 MFW #49: £1,585 / £3,000. Previous Overpayments: 2023: £2,850. 2022: £3,100. 2021: £2,540. 2020: £3,350. 2019: £1,950. 2018: £250. 2017: £500.
    Mortgage freedom can’t come soon enough!
  • greent
    greent Posts: 10,671 Forumite
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    You'll be smashing your target for the year! :T x
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NIL
    Net sales 2024: £20
  • CrowdieSaver
    CrowdieSaver Posts: 100 Forumite
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    Made another overpayment today...but oh my goodness it was so frustrating...!

    Went to my local branch of the Spanish bank, and got to the desk and advised them I wanted to make an overpayment on my mortgage with cash.....they looked at me like I was trying to rob them....then proceeded to not be able to find my account on the computer as the mortgage statement I had taken in with my mortgage account number on it didn't have the correct account number on it (it did)...then they told me that they wouldn't be able to take payment from me in branch again as they were no longer permitted to do it and that I would also have to ring up their Head Office to advise them if I wanted the payment to be applied to the balance or the term.

    I told them I had never had these issues before and I had overpaid in branch in the past with no problems and had also received a letter from them last month saying I could make payments over the phone, online or in branch....but they were insistent I wouldn't be doing it with them again.

    Went home and called Head Office and told them all this and they advised me that the branch were mistaken in the advise that they had given me.........(surprise surprise).

    To add insult to injury, the person at Head Office told me that the amount that I needed to overpay in order for it to reduce my term had increased, but that I had not been notified....so my overpayment was £30 short to have any effect on the term....grrrr!

    Came home and made an overpayment of £40 online, so hopefully this has taken it over the amount required to reduce my term by 1 month.

    All in all it's been pretty painful and am thoroughly annoyed today, when I should be happy because I've been able to overpay some money towards getting rid of this blooming albatross around my neck....

    Hey ho, sun is shining, I'm off out into the garden to take out my frustrations on some overgrown bushes....where are those clippers...?!? :(
    Mortgage at Jan 2009 (when house was purchased): £75,000. Mortgage at Jan 2017 (when I could start overpaying after 7 year relationship from hell ended): £60,000. Mortgage at March 2024: £23,199. 2024 MFW #49: £1,585 / £3,000. Previous Overpayments: 2023: £2,850. 2022: £3,100. 2021: £2,540. 2020: £3,350. 2019: £1,950. 2018: £250. 2017: £500.
    Mortgage freedom can’t come soon enough!
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