Todays the day for a BIG milestone for us.

Minxy

Minxy

LIFE MEMBER
Joined
Aug 22, 2007
Posts
33,963
Likes collected
71,483
Location
E Yorks
Funster No
149
MH
Carthago Compactline
Exp
Since 1996, had Elddis/Swift/Rapido/Rimor/Chausson MHs. Autocruise/Globecar PVCs/Compactline i-138
A picture says it all - something we thought a year ago we wouldn't be able to do due to CV etc ... but we have managed it! :dance2::Grin:

morgage paid off - cropped.jpg
 
If anyone had told me that since October 2020 we could gradually pay off £109,174 I would never have believed them! We had until 1st November 2021 as the bank had extended our original deadline from 1st April 2021 thus giving us some leeway but we didn't want to leave it to then and have it hanging over us. A big chunk was able to be paid because I took my work pension early with a small monthly income but largest lump sum possible and we've been throwing everything at it we could plus reducing our immediate outgoings by utilising 0% long term interest credit cards to pay bills (yes I know they need paying off and we have that in hand for the future). We were concerned last year that if we couldn't sort it we might have to re-mortgage or sell the MH! :eek: Thankfully we've managed it without drastic measures. (y)

1st of May = Mortgage free day! 😁
 
Feels good doesnt it :)

couple of years now Ive owed nobody anything , well done.

Edit: get yourself another 100k and have another house on wheels :LOL:

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Fantastic, mortgage free is a great milestone in our lives.
 
Lots and lots (and lots) of years ago in my first "proper" job my manager encouraged me to take out a couple of endowment insurance policies (this was in the days before scandals, litigation etc) which at the time £5.47 pm. was a fairly significant part of my wages.
I continued to pay the same amount over the next 40 years (£2,625.60 if you're interested!) until that magic day when the policies matured, having of course moved upmarket with a net £15,000+ to clear. I not only paid off the mortgage but also bought a new (to me) car and had a holiday abroad!
What a great piece of advice I got and I'm forever grateful to the man who had the foresight to see well into the future. Shame it's not like that today.

But isn't it a great feeling? :dance2:
 
Congratulations!

We made our final payment a month before I retired last year, after I retired we paid off all other loans including the motorhome and cars. It has been a great feeling for the last 12 months 😀.

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Now get on the scales. You will weigh lighter without that millstone around your neck. Coo all that extra money going into the holiday pot. You will never be at home 😂
Well done it was worth the extra effort. I know I have been there. Now morgage free for 14 years.
 
TerryL said:
Lots and lots (and lots) of years ago in my first "proper" job my manager encouraged me to take out a couple of endowment insurance policies (this was in the days before scandals, litigation etc) which at the time £5.47 pm. was a fairly significant part of my wages.
I continued to pay the same amount over the next 40 years (£2,625.60 if you're interested!) until that magic day when the policies matured, having of course moved upmarket with a net £15,000+ to clear. I not only paid off the mortgage but also bought a new (to me) car and had a holiday abroad!
What a great piece of advice I got and I'm forever grateful to the man who had the foresight to see well into the future. Shame it's not like that today.

But isn't it a great feeling? :dance2:
Click to expand...
On a similar theme, way back mid 70s our Manager called an extraordinary meeting at Head Office. We were invited to meet a Pension person. All the staff had a long meeting and afterward our Manager said to come back the next day with a majority decision as to wether the company should adopt a "company private person scheme".
The collective decision was duly arrived at and we decided NOT to go with the new scheme.
Last year I got a call from Scottish Widows to say as I was now "old" I can have my pension.
It turns out the Boss thought it would be a good idea for us all to have an extra pension and arrange for the company to pay for us all without telling us.
Needless to say, I am/have been a happy bunny for the last 5 years. 🐰

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Isn't it just a great feeling??

To us it meant 'Freedom'
 
Bailey 15 said:
Well done
Now you can build extension for mother🤣🤣🤣👍
Click to expand...
You don't know how close you are with that comment! :LOL:

When we moved in here in 1993 the removal men referred to our 24' x 10' detached 2 room brick/block built detached 'workshop/annex/studio' as the 'granny flat'! 😁 I have in the past tentatively looked into whether we could built a small bungalow next to us for Mum but that was poo-pooed by the planning officer due to 'overdevelopment' even though it would have a lesser footprint than the existing structures due to the removal of the garages and workshop. :rolleyes: Whether I'd have pursued it though if he had though it was a goer I don't know ... possibly a narrow escape! :giggle:
 
Just to let you all know that I will be starting a 'go fund' page so that people can contribute in order that we can eat something other than backed beans and cardboard! :LOL:

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I was 55 when I paid mine off and the greatest benefit was that I didn't have to worry about packing in or losing my stressful job with a multinational company. In fact I packed in my job and spent the next 4 months touring Europe with a tent on my 67yr old motorbike. When I came back I dumbed down my C.V. in order to join a start-up company in a farm unit and for the next 3 years until retiring I loved every minute of it.
 
Its a satisfying feeling knowing your mortgage free.

Finally paid the remaining bit of ours off when we moved 4 years ago, just to be rid of it. We had kept one bit of £12,000 fixed at 0.25% over base rate, we figured it was better to keep that and put the £12,000 in the bank. When interest rates plummeted we paid it off.

I'd hate to be someone starting out these days. With house prices as they are especially in the South, paying a mortgage off is just a dream.
 
Congratulations and Celebrations in the Minxy Girl household this evening. Well done a lovely feeling. We still have an envelope with YIPPEE LAST PAYMENT to Abbey national written in big letters across the front.

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When managements NHS pension lump sum payout came in we cleared our mortgage and I used my pension lump sum to clear our credit cards when we were sixty.
Managements friend can’t retire early because of a long mortgage and credit card debts. Even when she gets to state pension age she won’t be able to enjoy it because she will still have payments to make.
We are both at state pension age this year and I feel free to enjoy our retirement comfortably .
 
Today was THAT day!

It had taken quite a while thus far to get
To a comfortable place with our future set
Or so we thought then blasted CV hits
And blows our plans completely to bits!

We were hoping to sell our rental place
To pay the mortgage on our home base
But the market died, no buyers about
So we had no choice but to re-let it out

Paying its bills was silly as the cost
Was just dead money, our income lost
It wasn't ideal, but it lessened our plight
It made sense … the decision was right

It took a while but after a little slog
We got a couple with an elderly dog
They've settled in well, hopefully they'll stay
So we won't end up again having to pay!

We still had to deal with our mortgage though
So it wasn't an end to our tale of woe
By taking my pension I would get a lump sum
That'll reduce it a bit, but still more to be done

So scrimping and saving to lower it more
Was the order of the day, and months galore
The bank extended the deadline, such relief
Some breathing space, no additional grief

We threw everything at it, with all of our might
The figure reduced, the end was in sight!
Until finally the momentous day had come
Today was THAT day - we have MORTGAGE FREEDOM!!!
 
I remember the day we walked into the Nat West and asked to see the manager.
Paid off the mortgage there and then (although it did cost 3 months interest) £61,000. That would be about 20/22 years ago. Best feeling ever.
Not had any form of finance since.
Well done.
 
I still had a mortgage when I stopped working full time. For the last seven years we had a flexible mortgage, always under 1%, which we paid off last year. During that time, Santander were paying us to borrow from them. Which was nice.

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