Mortgage repaid

[Proseccoforever2024]

Name changed to post. Dh and I have repaid our mortgage on New Year’s Day with 7 years left on a 25 year term. I feel like we should be celebrating but it’s not something you can tell people in RL.

Woohoo 🎉!!!

what a wonderful feeling that must be! Looking forward to this being us in a few years’ time 😁 I hope you have taken a moment to have a celebration 🍾

Yay well done 🥳
We did the same in August & only told our adult son. I love the fact I’m sat in the house & I own it. I also love the extra cash, we’ve saved so much.

Oh well done! That's absolutely great for you both! I'm just short of 2 years away from a similar situation and cannot wait. May you enjoy all the freedoms this will allow you and hope you have some lovely plans in the offing.

Thank you!! It’s weird as we’ve had no correspondence from the bank and our usual payment went out as a DD this month. We will celebrate but I think I need it to be official!!

Congratulations! If I'd done this I'd be telling EVERYONE I knew because I'd be so proud of myself!

Congratulations ! It is a shame that you don’t feel you can celebrate with friends, although I do understand why you want to be discreet about it. Well done! Enjoy the feeling.

Congratulations! I would totally tell people about that IRL. Massive achievement

Amazing news!! Well done. I hope to be paying mine off 5 years early in 13 years time!! 🤣

Aww congratulations 🥳 We have just over 3 years left on ours. Can not wait for the day when we're mortgage free 😊 Get celebrating 🥂🥂

I get it. I haven't even told some friends I'd bought a house because of how much they are struggling with renting (I was in the same boat). Sadly I'm only just at the beginning of it. You've inspired me. Congratulations..

Congratulations and well done! I have been there in the past (then moved and now have a new mortgage) but I remember well the feeling I had - it was relief but not one I felt comfortable telling anyone about.

Yes it's such a great thing, not having to pay every month any more. We go on so many holidays now - maybe plan a holiday in celebration?

We’re pretty sensible financially and have always saved. We made a couple of lump sum payments to lower the amount owed before the end of the fixed rate. We have been helped by my mum after my dad’s death so that’s made it possible. My dad would have been delighted to see us mortgage free.

Woohoo! Well done you. I hope to be able to do the same in a few years. Enjoy your mortgage-free home!

That’ll be me come next May!

dont think IRL I’ll tell anyone, all of my friends are already mortgage free and I have a sibling who is in a really grim situation housing wise so won’t be saying anything to them when it happens.

Long old road but we’re almost there!

Well done you OP 😃

congrats OP! I paid it off last month, 2 and a bit years early. I’ve only told my DP, my DB (who paid off his a few years ago when his DW sadly died) and my adult DC…who proceeded to tell their friends 😱. It’s a strange feeling, I’m not really sure what to do with myself if I’m honest. I celebrated by buying some caviar for £3.50. My mortgage account had just disappeared when I logged in a few days after making the final payment 😂 but they did send a nice latter too.

*letter

Well done you. We did it three years ago and the difference it’s made to our lives is unbelievable. Enjoy it!

Congratulations! We paid ours off in April, and it is a funny feeling isn't it? Such a big milestone, yet so hard to tell anyone with so many people struggling.

(4 days later DH was made redundant, so the joy didn't last long).

I would love to do this and it's most people's absolute dream - congratulations!
I know what you mean about keeping it quiet. Some people may be resentful or start expecting you to pay for things for them. Money is a funny thing.
Enjoy having the security and extra money each month! X

We’re paying ours off next month, originally taken out for 20 yrs in 2014 but we repaid half the outstanding amount when we remortgaged last year. We’ve been overpaying massively for the last few years to get it down and helpfully RBS increased the overpayment limit to 20% last spring. It helps that we live in the house I bought when I got divorced rather than trading up to bigger/more expensive properties when I married DH#2.

Paying off our mortgage 4 years early was a BIG moment in our lives! We told everyone 😂. I tell all my friends - try to overpay your mortgage because once it’s paid off and you truly own your own home, you feel so much more free. It enabled me to semi retire a little earlier than I thought I could. My stress levels are much lower.
Im not a big earner, we don’t have a big house, but it’s OURS!

That’s brilliant op! Well done 👍

Well done. You absolutely deserve congratulations. Totally understand it's not something lots of people in RL would be happy to hear in the current CoL crisis.

Congratulations, it's a great feeling isn't it. 👍🥳

Funnily enough, when I was working (took early retirement last year at 57) the whole office was generally very open about finances and we often chatted about overtime, pensions, mortgages, PB's, ISA's, tax codes, shares etc. sharing tips between us.
Anyone paying off their mortgage and the news was shared with congratulations and usually some cakes. 🍰
Got hit twice for the cakes as I paid off my first mortgage in my early 40's and when I moved a little while back and took on a new mortgage, I got done for cakes again when that one was paid off! 😁🥧🎂