MFW: Next step towards total freedom!

caeler

A letter arrived today from Land Registry to confirm the charge from Nationwide has been removed. All done now. 

For anybody who reads this in the future and wants to know what happens on mortgage redemption and account closure with Nationwide, mine went like this: Paid monies via online banking, -2 days account disappeared from online banking, -10 days received a letter from Nationwide confirming closure and -23 days letter received from land registry (-21 days if you count the property alert I received!).    

caeler

So its a month since becoming mortgage free.  I feel good, maybe as though a weight has lifted actually, which is a lovely feeling.  I am still considering what my next saving goal is.  I've relaxed the strict budget a little bit, don't get me wrong still trying to keep to a budget but not trying so hard not to spend anything so I can save more!  My savings are already starting to replenish which is nice, I think in a few months I'll feel relaxed about it, it's amazing how an emergency fund can make you feel!  I'm hoping to do some things on my post mortgage bucket list next month, now we can travel and stay overnight more freely so I look forward to the month ahead.  

FtbDreaming

Aww that’s brilliant. I think it was always going to take time to sink in and the initial deflation was inevitable as you’d spent so long focusing on a goal and now you need a new one! 

It’s great that it coincides with reopening too! You can book and do things without worrying about the costs as much! Well done xx

eat_that_frog

That's great @caeler it must be a relief to see your savings ticking back up again. I think becoming mortgage free before the term ends is such a big thing, especially if you manage to do it when you're young like you are, that it is almost unbelievable in a way, even once you've managed to do it.

Yes it's lovely to start planning things again isn't it. We had brunch in a cafe yesterday as a family, it was such a treat 

caeler

I genuinely had no idea I’d struggle to come to terms with becoming mortgage free. It sounds so silly to say it aloud but that’s exactly what’s happened! Thanks for all the support. Obviously covid hasn’t helped, well it did given there’s no way I’d have been able to save so much money without it but it didn’t given the damage it’s done to my mental health!

I came close to a frivolous purchase yesterday, I brought two lovely indoor plant pots from TKMaxx, but then I realised it was on a list I’d made of stuff I’d like to buy if I saw something nice so it doesn’t count! It was nice to go and browse non essential items I must admit. 

eat_that_frog

No it's not silly at all. If you spend so long planning for something and working towards it, it can be a shock to actually get there. Just take care of yourself and try and enjoy all the avenues of opportunity that are now opening up for you 

killerpeaty

What are your current options for the next savings goal?

Goals are strange beasts, often people feel something like grief when they no longer have that goal to aim for.

Grogged

Great news, glad you're recovering from mortgage-itis and able to move on... 😆

Grogged

Great news, glad you're recovering from mortgage-itis and able to move on... 😆

caeler

It’s now been 2 months since becoming mortgage free. 

I think I’ve come to terms with it now! It’s still a bit weird when I realise I don’t pay a mortgage anymore. I’ve allowed myself a few treats which has been nice and I’ve completed a few things from my post mortgage bucket list. My emergency fund is now replenished so I feel a little bit more comfortable now I have a buffer. I have some spends coming up like a holiday (if I’m lucky), car servicing and insurance, home insurance and that kind of stuff so I need another strict month so I can maximise my savings. I’ve decided from August I’m going to increase my pension contributions significantly so that’s something to look forward to.