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Today's the day.

After 11 years to the day we moved in, we've made it and have paid off the remaining balance and are mortgage free. 

Using overtime, overpaying each month and making the best decision 2 years ago when we stayed with Accord mortgages (who we were with from the start) but took out a mortgage that we could overpay by 50% without penalty, we are debt free 14 years sooner.

The inspiration on these forums kept me focused and I knew once the goal was set we had to stick to the plan. 

What was the mortgage direct debit will be swapped to a regular savings one from tomorrow. 

Onwards and upwards, next goal ... early retirement. 

Comments

  • beanielou
    beanielou Posts: 95,861 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!
    Great result. 
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.

    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • redofromstart
    redofromstart Posts: 5,876 Forumite
    Eighth Anniversary 1,000 Posts Photogenic Name Dropper
    Congratulations, and good luck with the retirement plan.
  • Mr.Generous
    Mr.Generous Posts: 4,003 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Well Done. Congrats. We did it, and sat back and spent the extra cash for a couple of years. I wish we'd taken a buy to let mortgage straight away and overpaid - we wouldn't have missed the overpayment as we had been paying mortgage plus overpayment. Did it in the end but wasted a few years I think.
    Mr Generous - Landlord for more than 10 years. Generous? - Possibly but sarcastic more likely.
  • powerspowers
    powerspowers Posts: 1,343 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Brilliant news, well done!
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £6,055
    MFW 2025 #27 £2,850/£5,000


  • We heard a talk at church way back in the '80s or '90s where we were all encouraged to "Get out of debt and stay out of debt".  The only debts we had were mortgage and a car repayment plan, but we went very frugal on all kinds of things to get them both paid off ASAP.  What a blessing over the years!  We've ridden out many storms from the economy, in comfort and security in spite of poor health and disabled children.  Never been well off, and live modestly, but no fear of bailiffs etc.  Best advice I ever received.
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