Paying off your mortgage....

[Deleted member 27677]

Life doesn't end at 40.

This ,I'm signing up to another massive mortgage at that precise age.Ill be working for at least another 25years so I've got to spend my money on something.

 

[b1gals]

Depending upon your circumstances it's more the 'weight off' rather than the money. About 10-12 years ago I went through a spell when I was in/out of work, at the same time we were being warned of the endowment shortfall predictions, so when I got a settled job we chose to downsize and get rid of the mortgage. It's only an ex council semi but it's ours and it's great going to work knowing that if you get finished you don't have to worry about how you're going to keep a roof over your family's head.

 

[mcq10]

Couldn’t give a fuck. Had a brilliant time in my 20’s now in my mid 30s will be 52 before my mortgage is paid off.

No point being the richest man in the graveyard. Life’s for living.

 

[Dan..Dan..Dan..Dan]

Paid mine off 2 years ago (I knaa, look at me and that). Dropped from 5 to 3 and a half days a week at work. Work life balance and all that. Nivver been happier. Apart from the shambles at SAFC

 

[Mackem00]

Sell up buy something cheaper, save yourself a canny bit of coin per month.
Look at me I pay £900 a month on my mortgage.

I wish it was lower like. I mean it's approx 20% of our monthly income ffs.

 

[Deleted member 27423]

A monumental point in most people's lives I'd imagine, what do people do with this new found wealth?
More holidays, cut back on work, anything at all or just crack on as before?

Retire!

 

[Albay3037]

Another eight years to go, so not too bad, term time is up in November, got an appointment with the bank coming up to sort a new one, although not too bad at the moment sitting at around £320 a month, so could be worse.

 

[Gutmackem]

Retire!

Surely still need an income though!

 

[Malloy]

Mines only £132 a month so not be doing that much with it. It's arnly 20 quid more a month than my sky bill

 

[Typhoonftm]

I worked with a noggie lad who at 20 years old bought a penthouse apartment in Stavanger, Norway, at the equivalent of around 600k. Worked 3 weeks overtime, every 4 weeks off for 3 years and paid it off.
Probably worth it in the long run.

 

[Deleted member 27423]

Surely still need an income though!

Pension?

 

[Hongkongphooey]

It's great being mortgage free

 

[Typhoonftm]

Mines only £132 a month so not be doing that much with it. It's arnly 20 quid more a month than my sky bill

Well if you can afford it, why not up the payments as much as you can and pay it off?

 

[Deleted member 27423]

Mines only £132 a month so not be doing that much with it. It's arnly 20 quid more a month than my sky bill

Blimey thats some Sky bill that marra!

 

[Typhoonftm]

I wish it was lower like. I mean it's approx 20% of our monthly income ffs.

Do you work offshore to mate?




A knar ; )

 

[Malloy]

Well if you can afford it, why not up the payments as much as you can and pay it off?

That's the thing though, I think it's that low once it's gone I'm not going to be hugely better off and rather just have the extra money in my pocket now

Blimey thats some Sky bill that marra!

Sky q early adopter

 

[HABA87]

I hate my mortgage.

 

[joemcdokes]

I wish it was lower like. I mean it's approx 20% of our monthly income ffs.

Nee wonder you go out on a Friday night unlike anybody else.

 

[SA96]

Must be a nice feeling.

My generation have been priced out of buying our own home.

 

[joemcdokes]

Well if you can afford it, why not up the payments as much as you can and pay it off?

Why doesn't @Mackem00 do the same?