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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:
Agadorsparticus · 02/02/2022 19:12

It's a great feeling, isn't it. We paid ours off last year but are just about to get another one for a new home.
The equity has given us such a good LtV that we hope to have the new one paid off in 5yrs.

Original poster
Akite · 02/02/2022 19:53

I don't have any great wisdom about it really, we've always bought well below the maximum we could afford (easier when we started 25 years ago!) and have always overpaid on each house we've had. This is the 3rd house we've had together and my 5th house. We're late 40s/early 50s.

OP posts:
darasda · 02/02/2022 21:06

Well done.

I'm 49 and have had a 20 year mortgage which is now in its 7th year. Planning to pay it off by September this year, my 50th birthday present to myself. Have overpaid the max for the last three years and it will have about 90K left in September so a heavy lift so if I do it I'll be very proud of myself.

I grew up with no money and a financially naive dad who made a lot of mistakes with family money so financial security is a very big deal to me, and I'm doing it for my 5 year old son.

22Newnames · 02/02/2022 21:32

Well done!!

Ours will be later this summer but it will be an amazing feeling. Unfortunately it is timed to coincide with DS going to university so we won’t see much of the money for several years but just knowing the house will be all ours is something I am excited about!

AnneElliott · 02/02/2022 21:49

Congratulations op! I can't wait until that day arrives for me! 5 years to go I think.

What a lovely feeling it must be to k ow the roof over your head is yours no matter what happens.

nitsandwormsdodger · 02/02/2022 21:51

My nan set fire to her deeds
I think it was a huge relief after many many years of struggle and losing two husbands
Did not cause any issues when selling after her death

tearinghairout · 02/02/2022 21:56

Well done, OP! We paid ours off a couple of years ago and like you, didn't feel we could tell anyone IRL. It is a bit anticlimactic but still a nice feeling! It's not been an easy ride over the years but it's now nice to have a few quid left at the end of the month. Saving up to help the dch now.

lisaandalan · 02/02/2022 23:07

Congratulations. X

Suzi9989 · 02/02/2022 23:08

Congratulations!! That's fantastic!!
Well done!

Roselilly36 · 06/02/2022 16:57

Many congrats OP, I can remember the feeling well. I still have the letter confirming the mortgage was paid back in full, with some rather lovely felt tip scribbles on, courtesy of DS2 who was a toddler at the time!

IbizaToTheNorfolkBroads · 27/03/2023 15:36

We paid ours off this morning.
It feels a bit unkind to celebrate in the current CoL crisis, but I wanted to tell someone.

inininsomnia · 27/03/2023 15:38

Congratulations! 😊

daisies30 · 27/03/2023 16:00

Congratulations! 🍾 we paid ours off last year too & it's a fantastic feeling

Fluffycloudland77 · 27/03/2023 16:12

Well done.

Shopgirl1 · 27/03/2023 17:06

Fluffycloudland77 · 02/02/2022 15:08

Banks are missing a trick here, there SHOULD be a confetti gif when you pay it off, or paying money into savings.

It would encourage us.

Not sure banks want us to pay mortgage off early. Less fees for them when we do…

22Newnames · 27/03/2023 17:06

Well done @IbizaToTheNorfolkBroads It's a great feeling isn't it?

Oakbeam · 27/03/2023 17:11

I feel cheated. I can’t remember feeling anything when I paid my mortgage off.

megletthesecond · 27/03/2023 17:13

Lovely news ibiza.
I finished mine last October and didn't have anyone to tell either.

My old boss was sent flowers a few years ago when she finished.

IbizaToTheNorfolkBroads · 27/03/2023 17:19

The lady I spoke to at the building society said it was lovely to get a phone call where she wasn't trying to find a way of helping someone reduce their payments. It's a strangely emotional thing to do!

ABitOfAShitShow · 27/03/2023 17:19

Congrats, @IbizaToTheNorfolkBroads! 🥳

LadyLindaT · 27/03/2023 18:40

Congratulations. I sent myself a card so that I had a memory of the day.

Rainbow1901 · 27/03/2023 19:10

Well done! We celebrated when we paid ours off early. Even if you tell no-one you can be glad that you can relax and enjoy the relief of knowing that your home is yours in its entirety.

SparkyBlue · 27/03/2023 19:14

We paid ours off a few weeks ago as well 24 years earlier than planned. Ours wasn't massive it was approx €800 per month but that's money that can be used now for the pension and DC third level fund.

IbizaToTheNorfolkBroads · 27/03/2023 19:57

Thanks for the congrats, it's actually my favourite uncle's birthday today - he died 4 years ago, but it's a good date!!

Tomorrowillbeachicken · 27/03/2023 22:45

Congratulations. We finished ours off last April and it was an odd experience but something that has made last year amazing

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