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.

I'd find that a bit odd - and probably insensitive as there would undoubtedly be colleagues struggling to meet the mortgage each month.
Nice idea to have a private celebratory meal together though.

We didn't do anything when we paid this mortgage off. Although, it's our first home and not our forever home so it's probably not our last mortgage!

I don't know that we'll do anything to celebrate, but it will just be really very pleasing. We still have seperate finances, and my plan is to move my half into my retirement fund, so I won't feel any richer as a result, just very glad.

Anti climax?

I had to go into the bank to pay it off (big lump sum) and I was grinning from ear to ear 😁<--- me on Mortgage Redemption Day. Celebrated with a meal out in the evening.

Oh my god at the office party celebration! 🤣🤮

I definitely won't tell anyone in real life!
It does sound like it will be quite anti climatic once it's done.

Still think we may hold for a nice meal or a small weekend getaway. Think mum would have approved of that haha!

We just moved the payment to a savings account. We have great savings though and have been on some great holidays since.

In same position as Op,altho our mortgage is small anyway. It will be nice to be rid of it as am 60,but would rather have mum here.

It was a massive anticlimax! We went to the bank, thinking there would be congratulations etc, before going out to lunch. It turned out they couldn't process the final payment in person, so we were shown into a tiny bank phone booth and had to pay by card over the phone. Then put the phone down and that was it! The poor customer service man in the branch did say congratulations after all and obviously felt it was a bit of a let down for us!

We've since moved again and taken out another mortgage but planning to pay it off early too by overpaying as much as we can. But won't be going into a bank this time for the final payment!

Shared a bottle of champagne and drank a toast !

We didn’t celebrate, but then we only actually had a mortgage for 5 years, so probably didn’t feel like a big countdown to us.

Still getting used to having the extra money each month! Coming in pretty handy for when DC2 comes along!

I'm currently leaning towards a weekend in a country hotel somewhere.
Maybe have a toast to my mum with a glass of champagne - she would have absolutely been cheering and cheersing that!

It is so crazy on how something, in theory, is such a milestone and so anticlimactic huh!

I rearranged my savings direct debits, and posted on here. I work in the creative arts, where comparatively few people earn enough to own a property, and many of my direct colleagues are still house-sharing, so would have felt like gloating to say anything.

(I also then wrote a snotty letter to the bank my mortgage was with, as they had screwed up the transfer of funds from the endowment fund to the mortgage account, and it all had to go through my current account rather than direct from one to the other which caused me a few sleepless nights. Got a decent amount in compensation and a grovelling apology, which was deserved as I had given them several months notice, on the phone and in writing, of what they had to do, they just didn't do it).

It was during lockdown and I don't remember celebrating but I do recall feeling so happy! Especially for my dh as he's a bit older all the weight felt lifted (we didn't pay it with a bereavement though so we didn't have that sadness alongside it)

We celebrated with a hug and a kiss and a sigh of relief that we were free of worry . It was a sense of achievement and freedom.

The call handler was a young lad who was over the moon for us . I advised him to overpay and get rid of his mortgage asap .

We went out for a meal to our favourite tapas restaurant. Just me, DH and the kids. Was about 6 months ago I think.

We only told our parents.

I love these - even if it was something subtle like a hug and a kiss!

Also why has something like this become so anticlimactic! Maybe a meal sounds like the right thing with a toast.

I'm definitely rerouting the majority of the money into savings! It'll be such a relief!

We paid it off on line, then went to work. Total anti climax. We had a bottle of champagne in the evening though, and started planning what we’d do with the extra money.

We didn't do anything, but I guess we kind of celebrated by starting to go to the theatre and opera more than once or twice a year now we could actually afford it

Didn't do anything specifically, it happened to be just before Christmas

We had an inheritance and used some of it to pay off the mortgage. We celebrated with champagne...a more expensive bottle.

I’m going to retire early - 24 payments to go