Mortgage makes me worry

mirry

Hi everyone, I have a mortgage of £38'000 outstanding, I am 38 years old and my house is valued at £210'000. When ever I read about other peoples mortgages , everyone seems very calm and relaxed about having a mortgage yet I sit and worry about it alot ?Am I the only one ?

inkie

No, you're not - ours is aound the 29,000 mark, and we are abit younger than yourself and I worry about it - in fact i am turning this worry into action buy trying to get rid of the mortgage as quickly as is possible.
However, I then think how fortunate that I am that I bought when I did and not am in the boat that some people unavoidably find themselves buying houses today.

Redbedhead

I don't particularly worry about - unfortunately having a mortgage is a fact of life for most people. I would prefer it to be smaller, which is why I overpay.

However, we are about to take on a huge mortgage to enable us to get a bigger house and I have had to accept that that mortgage will be with us for a number of years. I will worry about that one a bit more, but I think that will help motivate me to make as many overpayments as I can.

[Deleted User]

As long as your other finances are in control you have nothing to worry about.

For most people, wherever they live they will have to pay something, whether that be mortgage, rent, keep or whatever.

If you have a responsible attitude towards money and prioritise your outgoings you will be ok.

taka

I can't say I worry about my mortgage on a day to day basis but I do think about it! I really struggled to afford everything when I took it out and got into a bit of debt. Several yrs on and its ok now but I want rid of it asap! Now i'm a bit of an obsessed MFW! Oh to have the freedom of not having to pay my life away every month!! :rolleyes:

Kaz2904

I don't worry about it particularly. Mine is £74659.72 and I'm 29. I do obsess about it and want it paid off in case anything was to happen to either myself or DH, then we wouldn't need to worry so much.

getmore4less

mirry wrote: »

Hi everyone, I have a mortgage of £38'000 outstanding, I am 38 years old and my house is valued at £210'000. When ever I read about other peoples mortgages , everyone seems very calm and relaxed about having a mortgage yet I sit and worry about it alot ?Am I the only one ?

So you need to work out what it is a about it that worries you and look at ways to resolve them.

v.rajput

Hi,

Im in a catch 22, ive just been lucky to get £40k in my hand. but i owe 107k on mortgage. We want to move to a better area with good schools, maybe a slighter bigger house. but even if we used all the savings we had we still wouldnt able to affored more than what we are paying now, in monthly payments.

So the savings just sit there moving from isas to savings to childs accounts.

I saved a lot of money with little =woods and 3g how can i share this info with everyone?

mirry

i suppose I worry about what if i cant work or pay it, its silly I know but I cant help but worry about it all. I am intending to pay extra off, each month if possible. I do have some health investigations going on at the moment so maybe I am just feeling concerned ?But having said all that I do need to take action, Ive just got myself a mortgage pig, and have £3.59 in it already (lol), I will feed it daily and hopefully sleep better.

getmore4less

mirry wrote: »

i suppose I worry about what if i cant work or pay it, its silly I know but I cant help but worry about it all. I am intending to pay extra off, each month if possible. I do have some health investigations going on at the moment so maybe I am just feeling concerned ?But having said all that I do need to take action, Ive just got myself a mortgage pig, and have £3.59 in it already (lol), I will feed it daily and hopefully sleep better.

valid reasons, so a good idea is to have some months worth of "spends" set aside to cover the first part of a "no income" disaster. Also gives time to think should something like an health issue come to light.

Also have in the back of your mind a fall back position should no income be long term down size/reloction is one option, insurance is another.

tsharp

Kaz2904 wrote: »

I don't worry about it particularly. Mine is £74659.72 and I'm 29. I do obsess about it and want it paid off in case anything was to happen to either myself or DH, then we wouldn't need to worry so much.

But don't you have a policy to cover those kind of things?

Someone I used to work with told me that he and his wife paid off their mortgage, at great expense and hassle, then she died of cancer, which would have paid it off anyway, so he regretted not having spent all that cash on something more enjoyable and rewarding! Sad story.