finished today

I feel that I should blow a little whistle in celebration

_party_

I paid the mortgage off today.

I started overpaying about five or six years ago with a gift of £500 I had.

It kind of stuck at low overpayments randomly for a few years but the last couple of years I became a bit more disciplined and tried to throw £500 a month at it ..Not always possible but more hit than miss .

I don't feel much different really ..But I feel I have done what I said I would a few years ago Old me is thanking younger me for doing it's bit and a little more.

I have shaved around ten years off the term. I do know I could probably have made more banking the cash with these low interest rates ..But I also know I would have spent half of it and the mortgage would still be with me.

For anyone considering starting overpaying or feeling like the mountain isn't getting much smaller with each little chip of the hammer ..I can only advise you to look closer at the small differences ..focus on that each week ..the next time you look up a few months later you will notice the change .

I have one sad thing ..I used to really enjoy loading the online banking morgage history and list through all the little overpayments and see it reducing over the years ..No more of that now ..

I had the intention of overpaying but was galvanized into action by reading stories on here ..So a big Thank you to all who have posted on this part of the forum ..

It wasn't a big mortgage ..Only about £40,000 ..so no amazing mission ..But I had other things to do and I am satisfied with how things have gone...
«1

Replies

  • FiregirlFiregirl Forumite
    836 Posts
    Seventh Anniversary 500 Posts
    Forumite
    That's great!!!! Well done and enjoy!
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2023 14 Year Target Balance MF50 = £106, 918 — Mortgage Balance £112000 —Target for May 2023! £100K
  • MortgageFreeMimiMortgageFreeMimi Forumite
    50 Posts
    Eighth Anniversary Combo Breaker Mortgage-free Glee!
    Forumite
    Well done! Do add this to the roll of honour. I check that when I need inspiration!
    Mortgage £225k May 2017 - aim to pay off by Jan 2030 - MFW 2017 #118
    Outstanding mortgage: £81,987
    Cash reserve target £40 / £10k
    S&S ISA £1000/ £20k
    MF1 August 2016. approx (£152k start Jan 2009)
    MFW 2 TBD
  • LuckyinlifeLuckyinlife Forumite
    1.6K Posts
    Forumite
    Well done and thanks for posting this will keep us all going big time :]

    Enjoy your money you can keep save and use now :]
    Mortgage--- [STRIKE]£67700 March 15[/STRIKE] [STRIKE]£65221 April 15[/STRIKE] [STRIKE]£64983 July 15[/STRIKE] [STRIKE]£64780 sept 15[/STRIKE] Remortgage [STRIKE]£67295 oct 15[/STRIKE] [STRIKE]£66599 Nov 15[/STRIKE] [STRIKE]£65878.73 Dec 15[/STRIKE][STRIKE] £64834 1st Jan 16[/STRIKE] [STRIKE]Feb 16 £64,511.89[/STRIKE][STRIKE] March 16 £64,056.40[/STRIKE] [STRIKE]April 16 £62550[/STRIKE] [STRIKE]May 16 £62,396.20[/STRIKE] Feb 17 £60.800
    Emergency fund 23k
  • jodles16jodles16 Forumite
    1.5K Posts
    Car Insurance Carver!
    Forumite
    Fantastic news!! Congratulations! :beer:
    MFW2020 #115 250/3000 J-250
    1% challenge- /1525
    Save 1k in 2020- /3000

    Joining in UberFrugalMonthChallenge set up by the Frugalwoods!
  • CathTCathT Forumite
    7.1K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    Forumite
    Congratulations. Enjoy your mortgage freedom!
    Feb 2023 - part 1 - £40,464 part 2 - £27,583 Total - £68,047 57 months to go!
  • juststuff123juststuff123 Forumite
    282 Posts
    Eighth Anniversary 100 Posts Photogenic Mortgage-free Glee!
    Forumite
    Congratulation & Well done. Enjoy you achievement! It's good to read about people who have achieved their goals especially when your own seem so far away.:beer:
    GOAL:- £200k in Savings be March 2024SAVINGS: – £188,516 COMPLETE GOALS - Debt Free, Mortgage Free, £150k Savings Save 12k in 2023 #24 = £5318 / £15,000
  • Wow that is wonderful news! x
    MFW :)
    [STRIKE]Mortgage 8.2.15 - [/STRIKE][STRIKE]£171,064.64[/STRIKE] Mortgage 1.5.2018 - £99,980.45
    Aiming to be MF 1.10.2020
  • Thank you all for wishing me well.

    It is worth the slog ..And for all those with huge mountains to climb I wish you luck on your journey ..Seems I was just walking with you to the foothills and left the real peeks to the Pro's :cool:

    You never know ..I might be getting another mortgage in the near future .. I might be back trudging along with you all again pretty soon :)
  • Well done whats the plan now????
  • elantanelantan Forumite
    21K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Forumite
    fantastic, well done, so very happy for you, thank you for posting
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