Little P Starting as I Mean to Carry On!!

Luckyinlife

LitteP well done kinda the same as me with the life saving thing :] 11 years of hard work gone in a click mine wasn't as much but still a big amount for me

and now you have 9k left wow :] how long do you think it will take to pay off now its that low ?

LittleP

Hi
Assuming I pay only what I should pay (£159.00 a month) = 5 Years


Assuming I pay what I should plus regular over payments = 1 Year 8 Months.


But to be honest as soon as I have about 5-6,000 more in the bank than I owe on the mortgage I will just pay it off and be done with it. I can’t tell you all just how much happier I have been this last month knowing that technically I owe the bank nothing. When people say the weight has been lifted off of your shoulders they are not telling porkies, I feel great.

Luckyinlife

Great stuff :] i bet its massive weight off your shoulders ill follow with interest good luck :]

LittleP

Well the deed is done.
I have been giving some thought over the last week or so about just why I am moving money around in my offset accounts to best utilise the interest. I have been looking at the mortgage and thinking well why not just pay it off, so that’s what I have done.


I have probably left myself a little short at only a couple of thousand in the bank (until pay day in two days) but I was sick of looking at the minus sign and I can truly call myself mortgage free now.


I need to get six months salary saved up but that WILL happen, then it’s on with the rest of my life.


[FONT=&quot]Little P, Mortgage free at thirty five and eleven months.[/FONT]

linzipinz

wow !!! well done i am the same age as you and i'm in the process of selling my current house and purchasing a slightly bigger property mortgage will be for £101,000 but once the keys are in my hand i fully intend on being mortgage free asap.

enjoy the freedom you've worked so hard for

LittleP

Thank you and best of luck on your [FONT=&quot]Mortgage free [/FONT]journey.

velocity_girl

Wow, just wanted to pop in and say congrats LittleP. That is really impressive to be mortgage free at 35! That's eight years away for me but don't think I'll be achieving anything like it!

LittleP

Thank you.

I must admit I am very proud of what I have achieved and all on my own as well. I saved all my money that I personally earned and have payed the mortgage with the money I worked hard for.

I don't feel especially euphoric which I thought maybe I would but I certainly feel at peace with being free of the shackles of a mortgage. The concern has shifted now to the fact I have the least amount of money in the bank I have had since I was about sixteen and pushing trollies at Morrisons!!

A lot can happen in eight years and you may surprise yourself. Good luck with you Mortgage free journey :money:

bexster1975

Well done little P

I'm sure it is a psychological advantage having actually paid it off. You will recover your savings in no time at all now you don't have to pay a mortgage every month.

No, I'm not sure how euphoric I will feel either when the time comes. Very, very relieved I think is closer to the truth!

Best of luck with your next steps, the world is your oyster!

Bexster

gallygirl

Well done Little P, what a great achievement :T:T:T. Now to build your emergency savings and get away from the job you hate . Then on with the retirement planning :rotfl:.