Paid off mortgage today, how did you feel when yours ended?

[CheeryOchreCat]

We paid off our mortgage today! I think I will need some time to get my head around it.

Do you remember when yours was paid off, and how did you feel? We were in a position to do so courtesy of an inheritance, so mixed feelings on that.

Mixed feelings, paid it off from lump sum on retirement . Relieved it was gone, sad it took so much ofthe lump sum and annoyed that what was effectively bad advice many years before, the interest only but don’t worry this policy will pay all the capital off and leave you a big sum lie, which by the time we converted to a standard mortgage left us playing catch up trying to pay it off.

Felt great for about a month, then realised that the COL had effectively swallowed up the monthly payment anyway! But it is a nice feeling not to have that level of debt after 25 years, and that the house is ours only.

I'll let you know when I get there 🤣

Congratulations though, that is a big milestone.

Relief was the main feeling. That and a feeling of freedom.
We took the mortgage after several years working abroad, and it seemed huge, so not having that to pay allowed us to focus on pensions for a while.

So, congratulations! But sorry for the loss that led to the inheritance.

Very flat. I expected to get the deeds handed to me and be all excited and pleased after 25 years of paying it off.

You get bugger all. Apparently everything is online with the Land Registry and you can download something, but it's not your physical deeds.

It's nice to not be paying a mortgage any longer, but it was really anticlimatic.

great news for you!

2 more monthly payments for us and I can tell you how we feel!

It felt like a massive achievement, and I was really proud of us. We knew we would eventually get another one as we were only in a really cheap starter home, but still. Can’t wait to pay this one off!

I paid mine off this month too! I am pissed off that we aren't getting our deeds back. Ours were full of petty squabbles with the neighbours and was great reading for the brief time we had with them when we bought the house years ago.

I want to tell people in real life but it seems a bit braggy. lol. It's a great achievement I think! And I'm only 47.

Congratulations! We paid ours off three years ago by overpaying and overpaying.
It was a really happy moment.
Life has happened since but we are so relieved to actually, finally, really own our home.

Edited to add: no, we didn't get our deeds but we did get a letter from the Land Registry and mortgage providers.

Sad. Life insurance paid the last £60000 off when my husband died. We’d already paid around £40000 in life and critical illness insurance. I’d rather have my husband back.

Mainly relief but also disappointing that you don’t actually have anything tangible as PP said.
we’re lucky that we’re diverting the money to savings now rather than it being swallowed up, focussing on making some home improvements & saving for retirement now

Didn’t feel real. I thought we’d have that massive excitement but it just didn’t feel real lol. Very happy we have it paid off as we’ve had to pay city rent for our eldest who was studying and couldn’t work during it. Will help us pay for next child leaving if she needs help too. Definitely couldn’t have done it if we were paying the mortgage still.

We are paying three times less than we were paying a few months ago as paid in a big lump sum. The plan is to pay off what’s remaining in two years. I’m relieved but tbh my dh looks a bit confused, purpose-less… His goals always involve buying something rather than personal development or adventures so I think he’ll end up getting a car on finance even though we always seemed to agree that we don’t need an expensive car...
It’s sad to see he’s not as content as me…

Odd and sad, as it was the result of inheritance after my parents died. Very grateful too, obviously.

Paid ours off end of Feb , felt relieved as not able to work at the moment and proud as I’ve lived with chronic ill health for over 25 years - we had a modest lunch out to celebrate but looking forward to the freedom of half of our monthly outgoings gone !

Mixed feelings. Managed to do it 8 years early because of dh's cancer diagnosis 😐

I’m paying ours off on Friday. I’m looking forward to having one less bill but the monthly payment is so low it won’t make a huge difference really.

Relief , and when redundancy threatens yoh know your home is safe.

Congratulations OP.
Was a fantastic experience for me as a single parent .. then I bought a larger house so have another small mortgage ..
overpaying and will be done in 2 years .
Cant wait

Thanks everyone for sharing, and sorry to others who have experienced sad circumstances. Ours was a not-insignificant monthly payment so that’ll now be put into pensions, savings, and a bit towards some home improvements.

We paid ours off very early and it was a great feeling. No sad circumstances here fortunately. It was very life changing for us as we were under 40.

We were able to pay ours off a couple of years early, like others because of an inheritance from my parents. Although I felt sad I know they’d have been happy that they had helped us to do it. It was a very flat transaction on my banking app and afterwards I walked into the living room and just said ‘little house, you’re all ours’. There’s a massive sense of relief when I think that nobody can oust us though.

A sense of achievement and satisfaction as we had been working hard to pay it off early but we didn't celebrate in any way, it was just a task completed which allowed us to concentrate on pensions & savings.

I think I was 42 and had been paying the mortgage for 19yrs.

It felt amazing but also not something I shouted about so told like 2 people and then put that money straight into my pension

Non event but I think that was what was a fortune each month at the beginning of of the 25 years the payments were a big chunk of my wage also got caught up in 12% interest rates
in the last few years the size of payments in paid in relation to to my monthly wage were very small so when mortgage stopped I wasn’t massively better off