How did you celebrate paying your mortgage off? (If at all).

[december2020]

We are in a fortunate position that we may be able to pay our mortgage off by the end of this year, a lot earlier than expected.

(Partially due to very unfortunate circumstances, my mum dying unexpectedly).

It feels a little strange, to become mortgage-free, and oddly feels like an event you wouldn't really tell anyone in real life.

So I was wondering, when you become mortgage free, did you do anything at all to celebrate? Or am I just making something that isn't a thing into a thing.

We were thinking maybe a spa day, or a fancier hotel weekend in the countryside. But maybe I'm overthinking it all, it is not a thing, and it's me just trying to find a bit of light.

We celebrated with a takeaway 🤭
But now we’re putting what we would’ve paid for the mortgage direct debit into a savings account and we’re planning on splurging on a long haul holiday for Christmas.

We had to physically take a cheque into the bank to pay ours off. So we took a photo of ourselves in the car outside the bank to remember it. That was all 😀

Nope didn’t do anything but ours wasn’t connected to a bereavement though so can understand why you would do. I’d use the equivalent of a months mortgage payment and treat yourselves and raise a toast to your mum (assuming you were close/had a decent relationship of house!).

We also got a takeaway, don’t think we did anything else. It was a bit of an anticlimax

Mine was paid off ten years ago when I got divorced. I celebrated by taking a year off work and travelling.

I’m in precisely the same situation.
we plan to go out for a posh slap up dinner, which mum would heartily approve of

I think we just clutched each other in delight and carried on with our day 😂 but paying the final chunk involved a bit of cutting back so there was no money immediately for fun.

We ate out every night for a week.

Definitely worth celebrating.

In the 1980s My parents took me and my sister to a posh hotel for a weekend and we went to a show.

Then they put their mortgage payments into a separate account and eventually bought a holiday house by the sea.

We went out to dinner and had a bottle of champagne.

Then the mortgage payments got swallowed up with cost of living.

An ex-colleague brought chocolates to share with everyone at work to celebrate. Honestly, I felt a bit uncomfortable about it as it was only possible because her grandmother had died.

We paid ours off completely on our hlme in 2016 after our 25 year mortgage come to an end.
We just saved the money we were spending on the mortgage and had a family holiday the year after.

That said though, we had mortgages on rental properties at the time but these were being paid by rental income.

We have two more payments left to make. We are going out for a fancy meal the night of the last mortgage payment. And I have booked us a weekend away in October and November.

DH is self employed and currently often works half a day on a Friday - I want him to take the whole day off and just work 4 days.

I am signing myself up for a flower arranging thing with a local flower farm that I have wanted to do for ages and haven't been able to afford.

We are in a really good position that on the same month our mortgage ends we have a car loan, mobile phone contract, personal loan and an extra loan we had to do work on the house all finishing in the same month. The savings are more than my monthly salary.

By both of us reducing the amount we pay into the joint / bills account every month. That felt good.

Nothing, and DH moans more than ever about having no money .

2 kids at uni have somewhat cancelled it out though.

Congrats, OP. I’m hopeful to pay mine off next year, it’ll be a huge psychological weight off my shoulders and a saving of £2k a month. I’m going to invest the money I would have spent on the mortgage but I’ll definitely be treating the family to a nice holiday to mark the occasion.

This. And we went out for dinner to celebrate. It is a milestone

Same

(Great song btw)

Literally made last payment today. Big fat anticlimax. Had forgotten until I saw this post. Probably more into a pension.

We paid it off at 9.30 in the morning, in person at our bank, then went for a bottomless brunch.

We didn’t celebrate it but have saved money since and are now in a fortunate position to help our DD and DS with deposits.
We feel fortunate to be able to do this but also recognise we have both worked full time all of their lives.
It does not fingers crossed seem so far affected them that we did.

Do you have to pay for a bank or solicitor to hold your deeds after? Is this very outdated info? DH was thinking of keeping a small amount ticking over for a while.

That's so strange!

Paid it off on a Monday last year. On the Thursday DH was made redundant. No celebrating really.