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Original poster

Paid off the mortgage today

30 replies

50000LiraForMyThoughts · 08/01/2016 16:28

I want to shout it from the rooftops but it's not the done thing is it, so I'm shouting it on here instead, sorry.

I was expecting something momentous to happen, but it didn't. Just a phone call and it's all done. Meh.

OP posts:
Alisvolatpropiis · 08/01/2016 16:33

It'll be momentous next month when there's one less bill to pay though!

Hurrah!

MegCleary · 08/01/2016 16:33

Congrats we managed to complete ours last year, still hasn't sunk in to be honest.

TheGreenNinja · 08/01/2016 16:36

Congratulations! It's weird isn't it, we paid ours off about 5 years ago and didn't tell a soul, but felt like we wanted to celebrate!

DrivingMissLazy1 · 08/01/2016 16:36

Fabulous. Did you pay it off extra early or where you close to finishing anyway?
We're making overpayments but still have a few years to go. Can't wait.

torthecatlady · 08/01/2016 16:37

Woohoo! We're 1 year into a 25 year mortgage!! No over-payments yet, but hope we can do it in 15! :) x

HeffalumpTrap · 08/01/2016 16:38

Woohoo!!! Nice one! It'll feel good next month with the extra cash in your pocket

WeAllHaveWings · 08/01/2016 16:42

We've got another 18 months to go. Not long now!!

Original poster
50000LiraForMyThoughts · 08/01/2016 16:43

Thank you :) We've overpaid by the max we could for the whole time so did it in 12 years. I wanted to be mortgage-free by 40 and I JUST made it with 18 months to spare.

Totally wiped our savings out so the extra money will have to get squirrelled away. Celebrating with fish & chips and cava tonight, we know how to live!!

OP posts:
Wigeon · 08/01/2016 16:45

Oh wow. No way mine'll be paid off by 40. Please tell me you're not in south east England?!

Congratulations! Grin

G1veMeStrength · 08/01/2016 16:45

Well done! We really stretched ourselves so no chance of overpayments here.... But 2026 is getting closer every month...

MsRinky · 08/01/2016 16:46

Congratulations! I made it by 40 as well, but then bought another house. Will do it again by 50 though!

NewLife4Me · 08/01/2016 16:47

We paid ours off a few years ago and then went and got another Grin
this one has nearly gone now and I think that will be it for us.
Unless of course I find another house I can make some money on Grin

Congratulations, it's lovely when it does sink in that you have x amount of money more, then you realise it's not just that month but every month.

Original poster
50000LiraForMyThoughts · 08/01/2016 16:49

No we're in the rural South-West. We were DINKies for years though and had kids really quite late. No way could we have done it if we'd had kids the entire time.

Good luck all of you wanting to pay it off - you can do it! Once we started overpaying it sort of became the norm, but was nice to have that buffer during the recession years and when I was put at risk and things like that.

OP posts:
Original poster
50000LiraForMyThoughts · 08/01/2016 16:51

Those of you saying you then went and got another - funny you should say that, we are considering a move. Would be up North though so shouldn't need another mortgage I would hope although it depends on the area Smile

OP posts:
lighteningirl · 08/01/2016 17:28

Cleared mine 18 months ago with seven years left on the term like you say overpaying becomes the norm when I started the interest was about £400 a month and at the end it was less than £10 so the last few thousand came off really quick. We had a curry and bottle of cava and I only have to work part time now.

Kbear · 08/01/2016 17:32

Only 12 years to go! If we hadn't moved to a bigger house to accommodate the second child we'd be paid off by now... I like to remind him that he cost us another £100 grand on our mortgage and no he can't order pizza from Dominos, have an omelette .... haha

Enjoy your mortgage free years!

OnlyHereForTheCamping · 08/01/2016 17:45

We have 8 years, dh is obsessed with it, sometime he phones up to find out the balance the way you would look in on a sleeping baby

NewLife4Me · 08/01/2016 18:01

OP, we are up north and I can't resist buying houses atm, some especially those needing refurbishing are going really cheap.
Got my eye on one that needs about 10K spending on it, going for 30k and others on street selling for 80k.
If you do this a few times on short mortgages, you soon get your money back and can invest in another. Grin
We do this to make up for all the jobs in industry which we lost Grin

ThroughThickAndThin01 · 08/01/2016 18:10

Well done OP, I so wish Dh and I had the foresight to do this. Bloody great big mortgage we're paying down, should be mortgage free by 60 Confused. You must feel so relieved.

PennyPants · 08/01/2016 18:11

We only have another year or so on ours. Then the money will go towards early retirement instead.

readyforno2 · 08/01/2016 18:14

Well done op! Only another 17 years left on ours I'm not jealous, oh no not me

oneowlgirl · 08/01/2016 18:15

Well done Op - I'd love to be in your position but will be a while until we're able to do it!! Enjoy the feeling of freedom!

tribpot · 08/01/2016 18:16

I don't think having 18 months to spare is 'JUST' making it - that's a win by a big margin, well done!

HermioneWeasley · 08/01/2016 18:17

Whoop whoop! It's an amazing feeling and gives you so much freedom

BendydickCuminsnatch · 08/01/2016 18:17

Wow well done everyone, we've got 33 years to go!! Shock hopefully we can do it sooner though. Must feel amazing!

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