What point did you stop worrying about mortgage?

isadreamalie

Is there a magic moment where you haven't paid a mortgage off but you realise you're close to the end or debt is minimal?

Perhaps under 100k that must be a milestone?

AnnieB2018

I think about the monthly cost, say between 250 and 350 per month is neither here or there so I would stop worrying about the outstanding amount then. So overpay as much as you can and when the monthly cost gets down to 4x reasonable nights out then you are worry free😁

powerspowers

I’m not there yet but £70k as that was the value of our first mortgage and I could pay it on my own if needed to 🙂 

South_coast

For me it was around £9k, when I realised the balance was the same as I had in various savings pots. Knowing I already had the money was a massive weight off

FtbDreaming

Mines only small to start with but I’d say below £10k I’ll be buzzing

MovingForwards

Knowing how much I cleared in the first and second year due to the contractual and overpayments let me see I can clear it within my required timescale, well before the term is up.

Also having over ¹/5 of the outstanding mortgage in savings provides a breather if needed.

Peter999_2

I stopped worrying about my mortgage straight away, no point worrying about it.

I had been paying £160 rent for a room in a shared house, bought a flat and was then paying £125 instead.   I didn't think about my mortgage again until I paid it off 15 years later.

madaboutspots

Definitely once I’ve actually paid it off. Without a shadow of a doubt. I think once I’m debt neutral will be more relaxed but I’d LOVE to stop paying over £800/month and save that instead.

MoneySavingMiss95

I’m an over thinker so will probably only relax when I see zeros without a number in front!

eat_that_frog

That's a really good question, and one that I've been thinking about a lot recently. 

I started with a £250k mortgage and my thoughts on what feels comfortable has constantly shifted. At first it was to get the starting 2 down to a 1. I got there last year. Now I'm focussed on getting my debt down from 6 to 5 figures. Once I'm at £99k I'll be more content. But I'm not a million miles away from that, and I suspect when I get there I'll still feel uncomfortable with that big a mortgage and will have a new figure in mind for what feels comfortable.

Confused63

Looking forward it being under 100k by hopefully just after the end of the year, that seems like a good result from over paying the last couple of years.