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Paid off my mortgage today!!

Discussion in 'Personal' started by blazer, Oct 27, 2010.

  1. Seadream

    Seadream New commenter

    Many congratulations Blazer - I can't imagine how great it must feel (but hopefully I'll find out in about 24 years!)
     
  2. giraffe

    giraffe New commenter

    c'mon Blazer, it's not raining this afternoon
    [​IMG]
     
  3. inky

    inky Lead commenter

    Where did you get that photo?
     
  4. giraffe

    giraffe New commenter

    (giraffe shuffles feet and looks at the floor, mumbling something about Google images)
     
  5. dominant_tonic

    dominant_tonic Established commenter

    Wow! That's amazing news blazer. I am absolutely thrilled for you. Years of paying out astronomical sums now worth it. Hope your celebrations go well :)
     
  6. jubilee

    jubilee Star commenter

    We were a couple of thousand pounds of redeeming our home mortgage when we realised that we'd be better off having a larger mortgage in order to pay off our more expensive Buy-To-Let mortgage.
    We now own the rental property and were sent the deeds and all sorts of archived documents when we redeemed the mortgage.
    We were told that the deeds did not have to be kept securely, or even kept at all, as information on ownership is now electronically recorded. However, the house is 80 years old and the documents make interesting reading. We are barred from selling alcohol from the premises, for instance. Well, it's not sold but I think rathe a lot has been imbibed on the student premises over the years!
    My sister has a Sainsbury's Finance mortgage and will never pay it off. It's a flexible one so as soon as it gets near a hundred pounds left to pay, she borrows more because having at least £100 in debt qualifies her for, I believe, £100 in Sainsbury's vouchers each Deccember!
    She is about to extend the house and has the funds to pay for it but will borrow off the mortgage instead as the interest rate is 1.79% and she can get more than that with a high-interest bond.

     
  7. blazer

    blazer Star commenter

    Solihull please!![​IMG]
     
  8. tafkam

    tafkam Occasional commenter

    Congratulations!
    I have the deeds to the property I used to own, despite always having a mortgage on it. It seems that the paper copies of the deeds are pretty meaningless these days because when a transfer takes place everything gets transferred to an electronic version.
     
  9. Nice one Blazer....Mrs. blazer was on about you needing an extension.
     
  10. inky

    inky Lead commenter

    Ouch, point taken. I'm a Silhillian myself, so I should know better. Of course, Olton [where I was born] is held to be the oldest part of Solihull.
    Dad was from Perry Bar, so I claim dual honours. By the way, I was born in Warwickshire but my place of birth is now in the county of West Midlands. I still count myself a Warwickshire woman, though, and also as a Brummie.
     
  11. Nanny Ogg

    Nanny Ogg New commenter

    Hi Inky,

    And well done OP on paying off the mortgage.

    And which posh part of Liverpool does someone have a back garden? We and everyone I knew had a back yard with an outside loo.
     
  12. BelleDuJour

    BelleDuJour Star commenter

    That's brilliant Blazer!
    My new hubby and I bought our pad cash and so don't have a mortgage. It's the first time in my life I've been mortgage free (except when I rented) and it's a great feeling.
    Now.....about Mrs Blazers' new car and haircut.............[​IMG]
     
  13. jazz2

    jazz2 New commenter

    I've paid off my mortgage lots of times.


    But only on Animal Crossing! [​IMG]
    (Clearly, I lead a very full life ...)
     
  14. inky

    inky Lead commenter

     
  15. laffal0t

    laffal0t New commenter

    Enjoy Blazer!
    :eek:)
     
  16. Me too 24 looooong years to go.
    Congratulation on being mortgage free.
     
  17. catmother

    catmother Star commenter

    I'm less than 2 years from being "mortgage free" but I fail to see how this drastically improve my life! Must be a British thing.
     
  18. jubilee

    jubilee Star commenter

    I see your point. When I was close to paying off my mortgage, after 29 years of making repayments (several house moves with bigger mortgages each time), the monthy payment was was just a couple of hundred pounds.
     
  19. giraffe

    giraffe New commenter

    Well, I've nearly saved up a third of what I'd need for a halal 'mortgage' deposit (40%) [​IMG]
     
  20. tafkam

    tafkam Occasional commenter

    A couple of hundred pounds spare each month would drastically improve my life!
     

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