Mortgage - Debt?

Sammz

It's a debt but not one I will ever count. Once I've paid off my credit card and car loan I will either be saving or working hard to pay off another loan. I need some home improvements! I'm sure there will always be something more important to me than paying off my mortgage.

skintchick

I don;t count it as a debt in my sig - I'd have to pay rent or mortgage so it's an essential outgoing at the moment. I'd love to pay it off but it's not a priority.

steve700

sheryldoc wrote:

The reason I mentioned it is.. some people have in their sig.. total debt 65k.. so I guess they inc their mortgage.. and I jst thought.. I wouldnt inc my mortage in that amount ..x

I think that you would find that a lot of people that do have that kind of figure within their signature are NOT actually including their mortgage as part of that.

It would be nice to think that I was wrong though.

Steve

Mrs_Sparkle

I don't count it as debt or put it in my signature. It's a "good" debt and an essential one.

taxi73

Hi there...I don't count mine as debt either and it's not in my signature for that reason..once I've paid all my other debts off I intend to grossly overpay my mortgage to be free of that as well..I'm not allowed to overpay on my mortgage without incurring fees...so when it comes to remortgaging my top priority will be to overpay:o

livinginhope

Hi sheryldoc,I don't count my mortgage in my debts like many others.To me mortgage is just another bill I have to pay and it's a bit cheaper than renting.
So yes,my debt in my sig does NOT include mortgage,that's another £109k
LIH

georgiasmum

I don't count mine as a debt.

nrsql

Why not remortgage and pay off your "debt" then? In fact remartgage for as much as possible and suddenly you're out of debt and have savings to spend.

Of course a mortgage is debt - just cheaper than most others. It still has to be paid off though so should be counted with all other debt.

It's dangerous to ignore cheap debt as the rate may change. You just have to be aware of the cost and risk associated with all your debts. That will give you a basis for deciding when to pay them off.

raq

Lot of people's debt is £65k and this doesn't include their mortgage. Unless they are in arrears

itsarichmansworld

I heard a wise person say debt is if its unsecured basicaly if you cannot sell car house etc to pay off debts then it is debt,

However although I do not include my mortgage 30k I do include My car finances for my and oh car's in my debt as I felt the quicker these are paid the better however if I didnt include these then my debt would be a more manageable,,, 14000 and not 25000kat lightbulb.

I think we need to face all debts and after I am done with demolishing my debts next up is my mortgage!