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Once you pay off your full mortgage amount, what happens next?

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  • Strummer22
    Strummer22 Posts: 729 Forumite
    Ninth Anniversary 500 Posts Name Dropper Combo Breaker
    I may be jumping the gun a bit here considering it will perhaps still be a few years before I need this information, but I was still wondering what happens once you pay off your full mortgage amount to your Bank.

    Pop open the bubbly and book a holiday?
  • Makingabobor2
    Makingabobor2 Posts: 4,384 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    I may be jumping the gun a bit here considering it will perhaps still be a few years before I need this information, but I was still wondering what happens once you pay off your full mortgage amount to your Bank.

    Pop open the bubbly and book a holiday?
    Oh yes....that's what I have in mind....Very long cruise. LOL
    Making the debt go down and savings go up

    LBM 2015 - debt £57K / Now £28,084....its going down

     Mortgage Free December 9th 2024! 
    18mths ahead of schedule.  Since 2022 we paid over £15K in OPs.

    Challenges

    EF #68  £850/£3000
    .

    Studies/surveys  November £0

    Decluttering items 1370/
    2025
    Books read    20
    Jigsaws done  11

    My debt free diary...https://forums.moneysavingexpert.com/discussion/6396218/we-will-get-this-debt-d£own-the-savings-up


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