To those who have passed the MFW finishing line...

badger247

Hi

MF since 3rd November 09 after my critical illness claim payout arrived after 3 years of battling with my insurer. I was reading a book in Waterstones about stress when the lady from "Customer Service" phoned to ask how I would like my money....sad to say but I went home and cried with relief.

Mortgage now paid with the remainder in a bond locked away!

It feels very liberating indeed, but it has not really sunk in yet, it may change come pay day this month!

37 and MF.........Yippeeeeeeee

Amanita_2

Became mortgage free at 42. .

It is amazing how the equivilant to the mortgage each month always seems to disappear. Somehow though there doesn't seem to be much difference in the monthly ourgoings but we do go away a lot for long weekends which we didn't before.

[Deleted User]

I've been MF for nearly 18 months. I cut my hours at work to help look after my mum. I've been replenishing my savings and doing stuff to the house.

One bit of advice though - when you become MF - don't tell anyone (apart from on here...). You'll be amazed at the jealousy from others and the expectations that you are now rich etc... even from friends.

Baileys_Babe

We became MF in April 2007. We orginally took out the mortgage in May 2000 and always planned to pay off within 10 years. Which we achieved :j

I intially reduced my hours to half time. I am currently on maternity leave, but do not intend to return. Instead I will be spending my time Home Educating our children.

In the future we plan to borrow money (to renvovate the house) & then pay it back as quickly as possible, whilst still having a life. We are currently working towards borrowing less thus returning to MF asap. In January I aim to focus more on having a mortgage for as little a time as possible (even before we apply for 1). I'll be over here working out how to reduce our out goings etc to achieve our goal.

Once the house is done and the money is paid back, I would like my OH to reduce his hours or us both to work part time, doubt he could do this in his current job which he loves.

oystercatcher

I paid off my mortgage in January this year. had always planned to pay it off early as absolutely hate being in debt.

Sod's law by the end of February this year I was unexpectedly signed off sick from work and have still not returned nine months later. I'm on half pay and am expecting to possibly lose my job next year as this wretched illness is showing no signs of improving.

The relief of not having to worry about mortgage payments even if I do lose my job is wonderful. It will still be a struggle managing on just DH's money but whatever happens we will have a roof over our heads.

I am so glad to be mortgage free.

My Granny used to say, "you never know what is round the corner and sometimes it's just as well." She was so right. I'm glad I was ready!

seven-day-weekend

We have been mortgage-free on our family home since the mid-90s and completely mortgage free after we sold our investment property in 2005. We have a house in Spain too, bought (£35k ) in 2003, which has no mortgage.

Having no mortgage on the family home enabled us to take early retirement in 2004 when we were in our mid-50s and go to live in Spain on a much reduced income. We have until recently lived therr full-time but now are going to do half-and-half, six months in each place.

If we had had mortgage or rent to pay, we could not have done this as our outgoings would have been too high for our tiny income.

So being mortgage-free has given us freedom to leave work and move to another country.

rumncoke

We originally became MF 4 years ago. The feeling when I made the last payment was indescribable. Bought in 1984, but only overpaid in last few years, didn't realise you could before then!
Enjoyed having the excess to spend on extra luxuries as well as building up a good pot of savings. Then 18 months ago decided to move to a bigger house. Having found the perfect place we were able to move before selling, but took on a 95% mortgage of £226K. I discovered this site when sale of old house fell through.
Now thankfully back on track to be MF again in less than 4 years. Should be fully offset by next summer:j thanks to the low interest rates.

Although at the time I worried myself sick at the amount of mortgage, now I see it as a blessing. I am now so much more aware of how much we used to waste & didn't think about what I was spending. I honestlt dont think I will go back to our old ways even when we are MF again

ernie_3

pawlala wrote: »

There are a lot of people still striving to be a MFW (including myself) so the question I want to ask to those who have paid off their mortgages is....

How long have you been MF and what kinds of things have you done or been able to achieve in that time without having a mortgage?

I hope to share my MFW story so far so if anyone has any tips on how to start a thread and what kinds of info would be beneficial to myself and others please share!

Regards,
Paul

As the title says i really do enjoy reading these threads, some people have gone on to as they say "fritter away" the money, some have travelled, some have got bigger properties, others took different paths.They all have been or still are mortgage free at a period in their life that they wanted to be and that is what this forum is about. Please keep posting these stries/threads i love them and i know others will agree.
All the best from a slightly damp{not} Plymouth ..Ernie 3:beer:

shirlgirl2004

Became mortgage free in about March 09 and moved October 09toa bigger place with a pretty large(to me) mortgage. During the time we were mf we knew we were going to move so didn't splurge. Now I'm torn between doing up the new house and being MF. We have an offset account though so even delaying the improvements will save us interest.

cattie

I've been mortgage free for 22months now after downsizing & clearing the mortgage. My overriding feeling since has been one of immense pride in actually owning my home lock, stock & barrel & being a single person,managing to completely clear the mortgage in 10yrs with no financial help from anybody.

As I'm disabled & have a condition that results in me feeling the cold much more than most mortals, I'm now thoroughly enjoying the freedom of being able to have the heating on more than I ever did now I have the extra money to spare each month. Oh & I treated myself to a Sky+ subscription which amounts to £18.50 per month.

Some of the extra money from no longer having to pay a mortgage has also gone into savings as my needs are very little & I don't really need or hanker for many material possesions other than those I already own & I've also increased my giving to the charities that are close to my heart.