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Original poster

OMG mortage paid off

45 replies

FlibbedyFlobbedyFloo · 01/12/2023 08:22

DH has worked since the age of 15 and is 65 next month, so it is literally a matter of hard graft on his behalf - my own contribution is tiny compared to his.
I am so proud of him. His parents were basically subsistence farmers. DH was denied many opportunities on the grounds that he was the only boy and thus expected to take over the farm.
I'm actually crying writing this as it's so momentous.
It can be done. Hang on in there!

OP posts:
Megifer · 01/12/2023 12:53

Congratulations!! We'll be in this position in about 5 years, with about 20 years working life left so planning on putting what would have been mortgage payment into pensions and savings. Cant wait!!! 😍

menopausalmare · 01/12/2023 12:57

Amazing, what a feeling!

Oldandcobwebby · 01/12/2023 13:20

That's wonderful! I'm so happy for you both. Enjoy that meal out!

MRSMTO · 01/12/2023 13:21

Me and my husband paid ours off in 2021! I was 38 and it was the best feeling ever! Never told a soul although did feel like shouting it while running down the street! It's freed up so much money to do fab things.

ThirtyThrillionThreeTrees · 01/12/2023 13:27

Congratulations, I hope you and your DH spend the equilivant of what would have been next month's mortgage payment on absolutely spoilling yourselves.

TeenTraumaTrials · 01/12/2023 13:35

Congratulations. We paid ours off earlier this year. We are now paying the equivalent for DDs university halls and food but it means she doesn't need a loan which was the plan all along. And we are no worse off on a monthly basis for supporting her. We celebrated with a meal in a Michelin starred restaurant and only told one or two close friends when it came up in conversation about mortgage rates. For someone who grew up on a pretty shitty council estate it's a feeling i could never have imagined as a child.

SarahShorty · 01/12/2023 13:47

Massive congratulations!

We can pay ours off now but with the current inflation and interest it's just not worth it yet.

sandletown · 01/12/2023 14:26

We paid off ours this summer. Went into the building society and handed over a cheque. Best feeling ever. We took a selfie when we came out to remind ourselves of how it felt.

OldTinHat · 01/12/2023 14:49

Isn't it the best feeling ever?

I paid mine off at 46. Single mum, two DC, still remember how thrilled I was, 52 now!

Soontobe60 · 01/12/2023 14:55

I can’t begin to tell you how amazing it feels to pay off the mortgage - we’re not wealthy at all, I was screwed over by my first husband when divorced so started from scratch at 35 buying my house. At 59, I was able to claim my pension a few months early, pay off the remainder of our mortgage, downsize and renovate the home we will hopefully life in until we croak it. (plus have a little stash of savings in the bank). I still work a couple of days a week, which I love and will keep us ticking over til I get my state pension, at which time my DH will also retire.
Life is good with no massive financial worries anymore.

Pallisers · 01/12/2023 15:10

Congratulations OP. It is a great feeling. When we were in a position to pay ours off, our retirement guy suggested it made more financial sense to put the money in the market and keep the low-interest mortgage payments. I saw the logic of that but for me it was as much an emotional decision as a financial one.

We didn't tell anyone either although we are at an age where I suspect many of our friends are reaching that point too.

Storynanny1 · 01/12/2023 17:06

To be mortgage free as pensioners has made an incredible difference to our standard of living. We’ve only got small modest work pensions plus state pensions, but because we are mortgage free it means we are not worrying all the time about money. It’s the biggest positive to getting old!
For various reasons I think one of my adult children won’t get onto the property ladder and I can see how renting as a pensioner , especially if you are single with no one sharing bills with you, it’s going to be a struggle.

cupcakes12blossom · 01/12/2023 18:11

How absolutely amazing, but I just wanted to say, please don't underestimate your contribution. You've done this together and you should both be so proud of your achievements!

MiniCooperLover · 01/12/2023 21:22

Well done OP, we paid ours off earlier this year, I am 50. We've not told anyone though, I'm not sure others would be happy for us if their situation isn't the same.

Glittertwins · 01/12/2023 21:45

We paid ours off 4.5 years ago. The money we would have paid has paid for a few school trips and a lot of other nice things.

hurlyb · 01/12/2023 22:15

Mines gone but I keep it quiet. I seem to be able to spend the money on concert tickets and holidays fairly easily. I give to charity more too. It's nice to have the financial freedom.

I also save a lot as I want to be able to retire in my mid fifties.

Beckafett · 01/12/2023 22:44

Massive congratulations, I love posts like this- you should absolutely celebrate 🙌

Bowbobobo · 02/12/2023 10:43

That will be me on Monday! 61 here. I’m a bit worried that being completely debt-free will mean I suddenly lose impetus for working (I’m self-employed) but I have a strong financial plan for the future which I’m committed to so I’m hoping I’ll keep going. All my friends bar one is mortgage free already so I can tell everyone without feeling bad!

well done OP. It’s your achievement too, not just your DH’s 😊

LaurieStrode · 02/12/2023 11:03

Well done! Congratulations 🍾!

Motnight · 02/12/2023 11:14

Congratulations, Op, to you and your DH 🎉

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