The Mortgage Free Roll Of Honour

inkie

Went into the YBS this morning with a cheque for £11,454 to pay off the mortgage. What a feeling!! Paid up 7 years early. Takes the pressure off somewhat. Officially mortgage free whoohoo!!!

black_taxi_2

awesome--hopefully me in 4 years

pr9fer

Congratulations! I love seeing when someone has updated this thread with some good news!

inkie

Oh and I checked my balance online today, and they owe us £86.xx!! Result

golfiematt

congratulations, i cant wait for that day!:beer:

Lizloz

Anyone wanna help me understand how on earth you all did it - my brain has turned to mush reading all this & I don't understand much of it!

I don't feel like becoming mortgage free is possible, especially for us now that my husband has been put on short time at work, which means we'll be down by about £150/wk....now in full panic mode!

I'd LOVE to be mortgage free but being realistic, I don't think it's going to be possible but big congrats to those who have managed it!

mortgagenomore_2

Yes! there is always hope just keep paying the loans but DONT take out any new ones and eventually they will all be paid :j

Banner_Stands

I had a mortgage for around £130K in 2005 but managed to clear it last year in 2011. I had some good years with work and overpaid ISA's which helped offset the huge tax bill I had when I took the dividend.

Feel so much better being mortgage free especially with the way things are with the world nowdays.

Banner_Stands

Sorry, I just re-read my post and it sounds like I'm up my own backside.

I have to stress that earning that money was very tough and I made lots of sacrifices in terms of working long hours and almost every weekend at the expense of my family.

My quality of life was not great so I'm relieved I can shift down a gear now.

Better to do it gradually than the way I did it.

Butterflymind

Hello LL

I just popped in to see how everyone was doing becoming MF.

I don't think there is an easy way to become MF - my own journey started with the idea of becoming MF in 1999 so we made sure we got a repayment mortgage with no penalties. That's only the first step. But it was on hold really until 2003/4 when I got a job, saved & completed some renovation work as our home was cheap because it was a 'fixer-upper'.

Just thinking about it is a start. Read these forums, decide what would work best for you so you can prepare the way, and realise that things will be on hold anyway for now because of your current situation. Above all, please Don't Panic.

There are some fantastic, helpful people on this site, who can help with advice and support. Check out Weezl's great cheap recipes, debt-free wannabe's, etc. Even small changes help as they make you feel you've got a small measure of control back, even if things look bleak... Bear in mind that being MF isn't for everyone, as it can be a grind to over-pay, but, it might be for you in the future.

I never dreamt 10 years ago when we had nothing but the wreck of this place, only my OH working, & I'd just broken my leg (try going on a job interview on crutches to watch an interviewer's face drop!) that we'd ever be where we are now.

Hope this cheers you up.

ETA: By the way, we did make sure we'd cleared any other debts first, and saved for renovating as the priority.