What is your mortgage-free inspiration?

Tilly_MFW_in_6_YRS

Twiggy_34, what a beautiful post - lovely that you have the memories of creating your home with him

Best wishes

Tilly

toerag33

I echo what many others have said. I have been retired due to ill-health and live in constant fear that I can't pay my mortgage at some point. Like Andy_WSM it's a chronic health problem which more than likely will get worse. The house has been altered so I maintain my independence and I take foreign language students in to supplement my income. The house being mine - a roof over my head that no-one can take away. Security.
Enjoy living after! A holiday with my partner, travel .... It feels like the world will be my oyster when I'm mortgage free.
Enjoyed reading all the different postings.

ajmoney

I love this thread.

I am trying to get MF status to coincide with the end of my current job in 2022. I am unsure what I want to do for a job then but being MF would allow me to do whatever takes my fancy rather than finding a job that pays enough to cover the mortgage. If I stay on a similar wage I would continue to live the same lifestyle and save the money. We currently have 3 holidays a year, it may be nice to have some more

minx66

For me when mortgage free, my luxury would be simply to do the weekly shopping without adding up how much I'm spending, just to be able to buy what I want.
Not much of an inspiration for some, but massive to me...

lamarsi

love reading these posts .. the sad ones make my mum's wise words about save a little live a little seem so much more real just been talking to her about wanting to pay this debt of, and again she said make sure you enjoy your life Leah, so it is about finding that balance I guess thank you for sharing such personal and emotive posts with us xx

pavlovs_dog

Whilst we too look forward to greater financial security, holidays and the option to retire earlier, as long haulers they seem like a long way away.

We've OPed pretty much from the offset, working on the assumption that our 5 year fix ending would probably correspond nicely with us thinking about starting a family. Our mortgage free in 3 years aim is to reduce our mortgage from £121k to £106k. This would put us in the best possible LTV position when it comes to remortgaging. This in turn should give us the option of keeping monthly payments low whilst we try to survive on maternity pay (statutory maternity pay and child benefit wouldn't even cover our mortgage payments as they currently stand, and I'm loathe to think I might be forced back to work when babba is just a few months old purely for financial reasons.

inigma

Thank you for this topic, I have said it before and I'll say it again, waiting for your mortgage to be paid off is like waiting for an iceberg to melt. The only thing that keeps me going is knowing that at 40 I will be mortgage free. I got my flat 2 years ago at the age of 29 and I've been overpaying the maximum (£500) each month. I echo what everyone else has said, security (not panic every time an email with. The word "streamlining in it), freedom, travel, luxuries (at the moment a squashed eclair in the reduced feels like a luxury...) change of career would also be nice, being able to spoil my mum and nephews, realistically consider going on a Lions tour or to the West Indies for the cricket. Looking at my budget on payday knowing £850 plus another £100 of ppi's (not miss sold) can be invested in other ventures, holidays, restaurants, pension.

Oh and telling myself one day i will be able to write on the mortgage free roll of honour is a massive motivation, I swear to God Buddha, Ala, Ganesh and any other deity that thing keeps me focused on my journey. I refuse to comment on it till I have cleared my mortgage.

Wish there was a mortgage free gathering it'd be nice to put faces to names!

[Deleted User]

Good post!!
I guess for us its security too - knowing that it lessens the amount of interest paid to the banks for "nothing" over a huge number of years and knowing that if ill health or job loss hit then the panic wouldn't be quite as huge as it would be easier to survive on a much reduced income!

I think it will be a lovely feeling knowing every single brick in your house is all yours and not the banks!!

stedwell

We hope to be mortgage free in about 3 years - fingers crossed. That means OH will have 4 years before he retires at 60. I will have 8 years. That means we will have time while we are still working to finish all the things that need doing on the house and help my 2 dd set up their own homes. I don't worry about holidays and eating out as I am a bit of a home bird but would like to feel secure and safe in my finances.

It is so interesting to see all the different reasons for people on this mortgage free journey. I think it really depends on the stage of life you are at as well. We had such a hard time in the 80's holding onto our house during high interest rates that everything was put on hold for many years - including a family. It would be lovely soon to have a few working years without a mortgage.

kbl

what a great thread! am a loooong way off mf, but I just want to not dread the postman coming, hate that sick feeling in my stomach until I've checked how bad the bills are!! for me, as with so many others, it's the security, life has been and continues to be tough, so the dream of mf and not having to find 1100+ every month is heaven