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The Final Countdown

Thanks to OPing various amount from a few pounds to £1000 a month since I first took my mortgage out in 2001 on a 25-year term, and a lot of support on the MFW and MFiT threads on here to keep me going, I find myself on the final countdown to paying off my mortgage


My balance today is just under £5000 and my redemption date is September 2016, so I have 8 more mortgage payments to make. It seems to have come round all of a sudden. One minute I had 5 years left, the next I am in my final few months.


To everyone on the MFW journey, believe me, every little bit really does help, however small....keep at it, it really is worth it!
What goes around comes around.....I hope!
«13

Replies

  • LuckyinlifeLuckyinlife Forumite
    1.6K Posts
    Forumite
    well done :]

    What are your plans after you pay it off move ? save some more ? new car ?
    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
  • What a great feeling that must be!! Well done.

    Just at the start of my MFW journey but really motivating to read about those who have achieved it. :)
    2018 MFW #60 £1200/£6000
    2017 MFW #60. £3902.22/£2500
    2016 MFW #60. £2175.51/£5000
  • dark^knightdark^knight Forumite
    524 Posts
    Part of the Furniture 500 Posts Photogenic
    Forumite
    Well done...you'll be there soon!
  • ElusiveLucyElusiveLucy Forumite
    686 Posts
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    Forumite
    well done :]

    What are your plans after you pay it off move ? save some more ? new car ?


    Do you know what, I haven't thought about it really apart from possibly putting more into my pension or investing in a buy-to-let property. I guess I need to pull my finger out and make some plans! As I say, the last couple of years seem to have flown by and it is still sinking in that by Christmas I will be MF!
    What goes around comes around.....I hope!
  • ElusiveLucyElusiveLucy Forumite
    686 Posts
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    Forumite
    jb_lord wrote: »
    What a great feeling that must be!! Well done.

    Just at the start of my MFW journey but really motivating to read about those who have achieved it. :)


    It feels like the end of an era, but a good one!
    At the beginning of my mortgage I never dreamed I would be able to pay it off in 15 years rather than the original 25 and it seemed such a long time. I have been lucky being on a tracker mortgage with the base rate being so low, that has definitely helped.
    I wish you loads of luck on your MF journey, every little tiny OP is worth it.
    What goes around comes around.....I hope!
  • ElusiveLucyElusiveLucy Forumite
    686 Posts
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    Forumite
    I got my annual mortgage statement from Nationwide this month and it was entitled "Your final mortgage statement". For some reason I found that a bit scary, but I can't put my finger on why!
    What goes around comes around.....I hope!
  • jodles16jodles16 Forumite
    1.5K Posts
    Car Insurance Carver!
    Forumite
    Thats amazing!! Congratulations! Always lovely to hear from people have almost made it to the end!!

    Jodles :D
    MFW2020 #115 250/3000 J-250
    1% challenge- /1525
    Save 1k in 2020- /3000

    Joining in UberFrugalMonthChallenge set up by the Frugalwoods!
  • ElusiveLucyElusiveLucy Forumite
    686 Posts
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    Forumite
    7 more mortgage payments to go......
    What goes around comes around.....I hope!
  • ElusiveLucyElusiveLucy Forumite
    686 Posts
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    Forumite
    5 more mortgage payments to go.....


    Tempted to re-start my OPs as I could bring it down to 3 more payments, but I need the money for other things at the moment.


    Sadly the tax man has decide that my PAYE for last year wasn't right and I am going to be £250/month worse off this tax year, so paying off the mortgage will help with that.
    What goes around comes around.....I hope!
  • dano17439dano17439 Forumite
    366 Posts
    Part of the Furniture 100 Posts
    Forumite
    I dream of typing an email like this. I was all for overpaying until the death to have a £0 mortgage, but now thinking about it, I might stop the overpayments when the balance is say 10k owed our something, so I can start enjoying the overpayment saving sooner
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