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Mortgage free in 10 years - success
spo2
Posts: 277
Forumite
Hi
Long time lurker here but just wanted to share the news that after nearly 10 years in our forever home, we have just become mortgage free!
Things were hard financially for a long time, and when things started to ease, I proposed saving the extra and paying off our mortgage. Our 1.7% fixed rate came to an end recently, so we were able to pay off the rest with our savings before going onto a higher rate.
It's 20 years since we bought our first ever house, and almost 10 years in this one.
Next aim is to build up our savings again!
Long time lurker here but just wanted to share the news that after nearly 10 years in our forever home, we have just become mortgage free!
Things were hard financially for a long time, and when things started to ease, I proposed saving the extra and paying off our mortgage. Our 1.7% fixed rate came to an end recently, so we were able to pay off the rest with our savings before going onto a higher rate.
It's 20 years since we bought our first ever house, and almost 10 years in this one.
Next aim is to build up our savings again!
5
Comments
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Congratulations! That’s no mean feat.I’m a Senior Forum Ambassador and I support the Forum Team on the Competition Time, Site Feedback and Marriage, Relationships and Families boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts 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 and not the official line of Money Saving Expert.
ARE YOU STRUGGLING DURING THE HOLIDAYS? You may find some ideas on how to cope here:
https://forums.moneysavingexpert.com/discussion/6576551/some-websites-and-helplines-if-youre-struggling-this-christmas1 -
Thank you. We've had no or modest holidays for years and cut out a lot of luxuries to get where we are - time to enjoy it a bit more1
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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*** in ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger.
One debt remaining. Home improvement loan.[/b] [11 months left.[/b]1 -
Brilliant, well done.Mortgage £31,285.95
MFW 2022 #35 10,000
MFW 2023 #3 10,358.97
MFW 2024 #3 10,000
MFW 2025 #3 10,000
MFW 2026 7,384.62/7,384.62
MFiT-T7 #10 aiming for 16k https://forums.moneysavingexpert.com/discussion/6283332/halving-our-income-and-still-aiming-for-mortgage-free#latest1 -
Thank you
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