To feel rather bored with mortgage payment every mth

[blagaaw99]

Just that really, it's such a lot of money per month. When you think what else that money could be spent on. Can't wait til it's paid off. Anyone else feel like this?

The best day of my life was the day I walked into the bank and said I'd like to pay the mortgage. The teller smiled brightly and asked for details, which I gave her. She said, "For this month?" and when I said, "no the whole lot" (I had just sold my first property/millstone in London which I had been subsidising someone else to live in for 10 years) she whooped, brought up the numbers, told me the total, I wrote the cheque and it was done.

I don't want to crow, and I don't want anyone to think boomer privilege. I spent ten years subsidising a series of tenants, most great (but some less so) to the tune of £400 monthly (the difference between my mortgage repayment and the rent) to live there before property values allowed me to sell. One of the estate agents I asked for a valution, who had been my letting agent, suggested £30k under the market value. We are not talking about palaces: this was a one bed in NW6.

What a stupid thread. Ever been homeless? DH & I were, with our DD. It's shit. Lots of people would love to have a mortgage but are stuck renting forever. At least eventually you can stop paying your mortgage.

Sell your house and rent then, that should make life more exciting for you

@SisyphusAndTheRockOfUntidiness

What a stupid thread. Ever been homeless? DH & I were, with our DD. It's shit. Lots of people would love to have a mortgage but are stuck renting forever. At least eventually you can stop paying your mortgage.

I had a mortgage. Got divorced. Was homeless for bit. Rented and sounded away a load of money. Worked hard to rebuild my credit. Got another mortgage. Paid it off.

45

I spent ten years subsidising a series of tenants, most great (but some less so) to the tune of £400 monthly (the difference between my mortgage repayment and the rent) to live there before property values allowed me to sell

Why weren’t you charging market rate?

You've got existential ennui at being trapped in debt for life, it's how the system keeps the masses from getting too uppity.

No I don;t feel like that.

I feel very priviledged.
I live in a 5 bedroomed house with a garden in a lovely area- my mortgage payments are £500 a month.
I feel very lucky.

@Elinda

I wish my rent was 3k. Mine is 5k.

I can't afford to buy a house where I live (nor do I want to) so I am renting instead. To make up for it I have a mortgage on a house in a cheaper area as an investment.

Are you renting a mansion? I live in a 2 bed house in the Home Counties and my mortgage is £1000, NDN rents an identical one for £900

@SmokeMirrors

Sell your house and rent then, that should make life more exciting for you

it's funny how it's ok for posters to be so bitter about someone stuck with a mortgage, but it's not allowed for someone to look at wealthy people gifted properties or enough cash to buy one upright and feel a bit meh about their own heavy debt.

Competition to the bottom at its best.

@Babyroobs sorry I said upthread in reply to someone else we live in central London where that kind of money for rent is standard unfortunately. It's not even a house, it's a flat!

@CremeEggThief

YABU. Spare a thought for those of us who have to spend as much or more on rent, and most likely will never own our own properties.

How is that her problem??? I don't own but I don't resent those that do. Pathetic poor me syndrome will not improve your life.

@Lemonylemony

Farrrrk.....£3k/month?!? Are you renting a penthouse on the moon?!?

That's what I wondered 😂

Never actually heard someone say they were bored paying their mortgage. Are you also bored paying your utilities, your phone, or buying food? Basically just bored of adulting?

I can't think of many things that I'd want to spend the money on more than somewhere safe and warm to live that is eventually my own.

@Dyrne

I’m the opposite - I’m glad I’m paying a mortgage payment rather than rent. I know at some point I’ll be free of payments, whereas if I were paying rent it’s just keep on going forever.

I’m always amazed though when people offhandedly mention their mortgage payment is only £600 or whatever and I always end up fantasising about what I’d do with all that extra money per month!!

Is £600 a low mortgage, mines £330, mind I'm up north

That money is being spent on your home. Surely one of the most important things you need in life. Beyond food, shelter, energy, WiFi, childcare and clothing everything else is a luxury, a nice-to-have bug we have been conditioned to think we need other things too. We need to stop thinking "things" are important and essential to happiness.

Yes, house prices are ridiculous are expensive and many mortgages are huge outgoing that can stretch many budgets but to say "think of what else that money could be spent on" is baffling. At least that money eventually leads to ownership unlike those trapped in a cycle of renting.

I resent many of my outgoings, and kick myself over frivolous expenditure and waste but I am grateful to pY my mortgage.

This really is a very silly and insensitive post especially at this present time when there must be millions of people scared stiff about paying their mortgage or rent. They certainly won’t be bored of it as you so glibly state. They must be terribly worried for the future.
There are also many who can only dream of getting a foot on the property ladder.
In my late 50s I’m in the very fortunate position of having paid off mine and I’m grateful every day for the fact, but crickey I have every sympathy for those struggling and those who will have to rent for their lifetime.
I’m sorry but this is a very tasteless post.

@pollylocketpickedapocket £330?!?

Christ, that’s insane. I could be overpaying 4x that a month for what my mortgage is here.

Off to go have a moan at my parents for making the terrible decision to settle in the SE and have me there

[quote Dyrne]@pollylocketpickedapocket £330?!?

Christ, that’s insane. I could be overpaying 4x that a month for what my mortgage is here.

Off to go have a moan at my parents for making the terrible decision to settle in the SE and have me there [/quote]
Mine used to be 4K a month.

Now I am older, and live in a more modest house so it’s about the same as the poster you referenced.

All paid up in a couple of months.

Life choices. I am sure you could have a smaller mortgage on a smaller property

If you didn't pay a mortgage you'd pay rent and nothing to show for it at the end of it. X

@Lemonylemony

Yeah, the security of owning your own home is really dull.

What a weird, and quite insensitive, post.

But she doesnt own it, the bank does

But she doesnt own it, the bank does

Well usually the owner of the house or rather the land on which said hose or dewlling is built owns it he/she/they then secure a mortage on said land but they actualy are the owners!..

@SantaClaritaDiet You'll have to highlight where I'm telling people what's allowed and what's not.

Sorry but being "bored" with paying off a house that the OP will eventually own doesn't invite much sympathy, "all the other things you could buy" is a house not good enough?!

@Bluntness100

Never actually heard someone say they were bored paying their mortgage. Are you also bored paying your utilities, your phone, or buying food? Basically just bored of adulting?

To be fair, I am often tired of adulting. Partly because I know I will never even come close to getting a mortgage and a house.

I hear you op.

I pay a mortgage of £550 and rent of £800. Shared ownership. And I'm in £50k of negative equity.

For our two bed flat as we face having to pay private IVF while worrying about our jobs and paying for this pandemic and associated costs for literally the rest of our lives. Oh and some debts.

So BORING.