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  • FIRST POST
    • lemon26
    • By lemon26 8th Jul 17, 2:42 PM
    • 232Posts
    • 54Thanks
    lemon26
    Mortgage Free - Thank You All!!!
    • #1
    • 8th Jul 17, 2:42 PM
    Mortgage Free - Thank You All!!! 8th Jul 17 at 2:42 PM
    Hi All,

    I've been following this forum for a long time and would like to say a huge HUGE thank you!!!

    I paid of my mortgage on Friday in my lunch break as I had an unexpected bonus in June's pay slip, so I'm 34 (and 1 week) and totally debt free!

    I couldn't have done this without reading the threads on this forum so you're all amazing. All of my best wishes to those who are working towards paying off their mortgages!
Page 1
    • Tahlullah
    • By Tahlullah 8th Jul 17, 2:53 PM
    • 777 Posts
    • 4,662 Thanks
    Tahlullah
    • #2
    • 8th Jul 17, 2:53 PM
    • #2
    • 8th Jul 17, 2:53 PM
    Congratulations!!
    Striving to be mortgage free.
    • A Frayed Knot
    • By A Frayed Knot 8th Jul 17, 3:19 PM
    • 2,111 Posts
    • 9,526 Thanks
    A Frayed Knot
    • #3
    • 8th Jul 17, 3:19 PM
    • #3
    • 8th Jul 17, 3:19 PM
    Well done

    how on earth did you manage to keep quiet about your journey
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/£4000, 2015/£6294.69,2016/£3186.80
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • lemon26
    • By lemon26 9th Jul 17, 10:36 PM
    • 232 Posts
    • 54 Thanks
    lemon26
    • #4
    • 9th Jul 17, 10:36 PM
    • #4
    • 9th Jul 17, 10:36 PM
    The story starts in May 2012 when we got the mortgage for our current house - we started at £79k. I pay the mortgage and we, my partner and I, split the bills, food shopping etc. During the first nine months in our current house we still had our old house which was proving difficult to sell but, eventually, it did and we could start overpaying on our mortgage, not by much, about £100 per month. We could have taken a large chunk off the mortgage (£40k or so), but we had other plans.

    We needed a new roof on our current house so that was sorted, then we decided to extend into an adjoining outbuilding, which was an adventure as I did the majority of the drawings and project management. So that's where the majority of our remaining cask went, gaining us around 30m2 of living area. Whilst we were doing this I was splitting whatever was left at the end of the month between savings (25%), overpayments (60%) and having fun / treats (15%).

    Sadly, a relative died and my brother and I came into some money as an inheritance, which I took of the mortgage, then I got my unexpected bonus which meant I could pay everything off last Friday - that was the best lunchbreak I've ever had!

    So, I think the best advice I could give anyone is be disciplined and overpay, but leave something to treat yourself with each month and even the little overpayments quickly add up.

    Good luck to everyone on the MFW path, it's hard but well worth it!
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