What point did you stop worrying about mortgage?

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
    AnnieB2018 Posts: 75 Forumite
    First Anniversary First Post
    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
    powerspowers Posts: 1,124 Forumite
    First Anniversary First Post Name Dropper
    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 🙂 
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £1,350 /£3,600

  • South_coast
    South_coast Posts: 4,969 Forumite
    First Anniversary First Post Name Dropper Photogenic
    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
    Mortgage start: £65,495 (March 2016)
    Cleared 🧚‍♀️🧚‍♀️🧚‍♀️!!! In 5 years, 1 month and 29 days
    Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed

    Finally earning interest instead of paying it!!!
  • FtbDreaming
    FtbDreaming Posts: 1,121 Forumite
    First Anniversary First Post Name Dropper
    Mines only small to start with but I’d say below £10k I’ll be buzzing
    Mortgage started August 2020 £69,700
    Mortgage ends Aug 2050 MFW: Aug 2027 
    Current Balance: £60,200 (59.9% LTV)
    MFW2020 #156 £723.13
    MFW2021 #26 £1184.71
    MFW2022 #11 £197.87
    MFW2023 £785
    MFW 2024 £528.15

    Determined to make it! 
  • MovingForwards
    MovingForwards Posts: 16,980 Forumite
    First Anniversary First Post Name Dropper Photogenic
    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.
    Mortgage started 2020, aiming to clear it in 2026.
  • Peter999_2
    Peter999_2 Posts: 1,000 Forumite
    Name Dropper First Post First Anniversary
    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
    madaboutspots Posts: 157 Forumite
    First Anniversary First Post Name Dropper
    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.
    MFW date 2nd Jan 2024 - task complete YAY!

  • MoneySavingMiss95
    I’m an over thinker so will probably only relax when I see zeros without a number in front!
  • eat_that_frog
    eat_that_frog Posts: 226 Forumite
    First Anniversary First Post Name Dropper
    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.
    Original mortgage: £250,000 Feb 19   
    Current mortgage: £75,000 Apr 24
    Planned mortgage end date: Feb 44
    Mortgage free start date: 13th July 2020

    2024 MFW #40
    MFiT-T6 #16

    2024 Goals
    Increasing our fruit&veg intake and reducing our UPF intake as a family
    Doing an 'activity' as a family every weekend
    5 x a week physical exercise to improve my health
    Regularly declutter toys, books and clothes/shoes
    Make mortgage OPs of £6k in '24 - GOAL MET!
    Keep emergency fund at £10k
  • Confused63
    Confused63 Posts: 21 Forumite
    First Post
    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. 
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