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Original poster

Can't tell anyone, paid the mortgage off today!

188 replies

Akite · 02/02/2022 13:39

We don't really talk about finances to friends or family so it would seem a bit odd to tell anyone but I feel like I want to celebrate!
After years of overpaying on our mortgage, we paid it off today! It feels a bit of an anticlimax so far because it will take a little while to get the deeds etc (if we even get sent a copy now, maybe it's all digital). But it's a really big event!

OP posts:

FrugalFrancine · 02/02/2022 14:07

Ah well done you! Mortgage free is the dream

irey · 02/02/2022 14:08

I know exactly how you feel , I paid mine off a few years ago , made the last payment over the phone to the bank call centre , and the guy I was dealing with , said "congratulations ... well done " :.. for some reason , his comment made me cry and also made me take a moment to pat myself on the back , single mother , worked really really hard to do get / pay off the mortgage and I had not stopped to note the significance of it till he said that ! So , well done you ! And totally ... open a bottle !

caddyshackGirl · 02/02/2022 14:08

It's all digital now so very unlikely you will get the Deeds

I was lucky to pay mine off a little while back. I live in a very old house and was absolutely gutted to hear my Deeds had been destroyed

snowstorm2012 · 02/02/2022 14:09

Congratulations that's lovely news!

Make sure the mortgage company notifies the Land Registry to remove their charge - once this has been done you can download a copy 👍🏼

Chocolatehamper · 02/02/2022 14:10

Huge congratulations! It's a really big deal and one that takes a really big commitment to maintain overpayments etc. We hope to be in this same position in just under 2 years, having shaved 9 years off the mortgage through overpayments. I can't wait!!

ProudAlly · 02/02/2022 14:12

Congratulations! I remember that day and it felt good

TheOrigRights · 02/02/2022 14:12

Congratulations!

I have also done this. The whole 'ceremony' was a walk from NatWest to the Building Society and then it was done. You don't even get a certificate or badge or anything!

Unfortunately (but necessarily) I have a mortgage again because I bought ex out of the home.

Humphriescushion · 02/02/2022 14:20

Oh congratulations! That must be a lovely feeling.

TheTeenageYears · 02/02/2022 14:23

Congratulations. Can I be really boring and recommend you sign up to the free Land Registry service which notifies you if anyone does a search on the property. It's good for identity theft protection now that there's no bank or building society who would automatically be notified should someone falsely try and take out a loan against the property.

Elchupacabra · 02/02/2022 14:26

That's a HUGE milestone!!! I'm delighted to hear it!! We are in the process of overpaying our mortgage and understand how much of a financial commitment it is.

Make your summer holiday a big all bells and whistles affair...many congratulations

FelicisNox · 02/02/2022 14:27

Congratulations!

We're in a similar situation: our house needs work so not sure whether to pay it off and do the work or sell ours, port the mortgage and then pay it off.

Decisions Decisions

dudsville · 02/02/2022 14:27

Congratulations! We are about 4 years away (also over paying). My mum got her paid off a few years back and it's just amazing, that financial security.

Original poster

Akite · 02/02/2022 14:28

@TheOrigRights

Congratulations!

I have also done this. The whole 'ceremony' was a walk from NatWest to the Building Society and then it was done. You don't even get a certificate or badge or anything!

Unfortunately (but necessarily) I have a mortgage again because I bought ex out of the home.

I just did an online payment from current account to mortgage account so even less ceremonial! There should definitely be a little fanfare when it's done. You know how you can send iMessages with confetti or balloons, something like that 😆

OP posts:

SadieContrary · 02/02/2022 14:28

I am not even on the property ladder yet (we live overseas through work at the moment) but I look forward to this day whenever we do return.
Massive congrats - enjoy!

MaizeAmaze · 02/02/2022 14:31

We didn't get a copy of the deeds, but we did get a letter from the bank stating they no longer had an interest in the property, as the debt was cleared.

clopper · 02/02/2022 14:32

Well done, what a great achievement!

Bagelsandbrie · 02/02/2022 14:33

@MaizeAmaze

We didn't get a copy of the deeds, but we did get a letter from the bank stating they no longer had an interest in the property, as the debt was cleared.

Same here. We never got the deeds.

Congratulations op!

Rightsraptor · 02/02/2022 14:36

Well done! I don't have a mortgage either, solely due to selling up in an expensive part of the UK and moving to a much cheaper one. Isn't it great?

You may not feel much of sense of freedom for a while but it may be a gradual dawning, so whenever you want to buy something or take a holiday or whatever, you'll realise 'oh! we don't have the mortgage payments to think about any longer.' And it'll be just ... so nice! More money available for fun stuff.

Have some bubbly and celebrate.

BoodleBug51 · 02/02/2022 14:36

We had our deeds by complete error as we changed from one mortgage lender to another, and it was a fascinating read. The land was originally owned by a farmer, who then sold it to a sawmill and it was used as a mill pond. Then it got filled in, sold off as farmland again, then sold to our developer in the late 1970s. The file was huge..... and explained why the previous owners extension had subsided as they hadn't dug deep enough foundations! Thankfully our solicitor had gone through all of this when we purchased and we had a very expensive survey done to check.

We went round in circles trying to return them to our mortgage lender, who just didn't seem to understand ...... so in the end we filed them with a solicitor for storage. It's nice now our mortgage is paid off and we have them genuinely.

Well done OP, it's a lovely feeling but not something you feel you can shout about even though you want to

8stone13 · 02/02/2022 14:38

@TheTeenageYears Absolutely this. I wish everyone knew about it, it's such a useful safeguard.

I rang a friend not so long since & suggested she sign up for it. I'd forgotten she used to work for Land Reg until she said: "It's very nice of you to advise me, but I was actually the one who designed the whole system." 😆

Smeds · 02/02/2022 14:38

Congrats! DM paid hers off last week too. She's 68 and can now finally drop her hours at work. I'm so relieved for her!

Bunnyfuller · 02/02/2022 14:39

Envy you, we had our annual statement yesterday, 11 years to go. We’re due to find a new deal this year though so might slice a couple of years off as our mortgage is pretty small (25% LTV).

Drink the fizz while looking at holidays! 🥰🥰🥰

whereisnoah · 02/02/2022 14:41

So jealous, 27 years left on mine so I'm going to live vicariously through you for today 😂

viques · 02/02/2022 14:42

Oh well done! I have the deeds to my house, apparently I am not allowed to put up advertising hoardings or use my property for a circus. It’s a London terrace, I doubt I could get an elephant through the front door, and I hate clowns. Could do a slack wire on the washing line I suppose.

8stone13 · 02/02/2022 14:43

@viques 😆😆😆 🎪 🐘

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