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[Finance] How much left on your mortgage?

How much is left on your mortgage

  • Happy days... No Mortgage

    Votes: 145 44.9%
  • Under 50k

    Votes: 24 7.4%
  • 50k-100k

    Votes: 24 7.4%
  • 100k-200k

    Votes: 58 18.0%
  • 200k-300k

    Votes: 34 10.5%
  • 300k-400k

    Votes: 15 4.6%
  • 400k-500k

    Votes: 8 2.5%
  • 500k-600k

    Votes: 4 1.2%
  • 600k-700k

    Votes: 1 0.3%
  • 700k-800k

    Votes: 2 0.6%
  • 800k-900k

    Votes: 1 0.3%
  • 900k-1 mill

    Votes: 1 0.3%
  • 1 mill-1.5 mill

    Votes: 0 0.0%
  • 1.5 mill plus

    Votes: 6 1.9%

  • Total voters
    323


Wrong-Direction

Well-known member
Mar 10, 2013
13,598
I'm contemplating a 35 year mortgage wtf

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patchamalbion

Well-known member
Feb 26, 2009
6,019
brighton
My dream is to be mortgage-free. I'm overpaying at the moment in order to get rid of it as fast as possible.

To those who have no mortgage, and this is a genuine question, does life change all that much when you clear it off - and if it does, in what ways have you noticed?

Better of paying into a pension than aggressively overpaying on a mortgage surely? You’ll be happier later in life than being mortgage free. .
 






Beach Hut

Brighton Bhuna Boy
Jul 5, 2003
72,292
Living In a Box
Zero from around 4 years ago
 








Beach Hut

Brighton Bhuna Boy
Jul 5, 2003
72,292
Living In a Box
My dream is to be mortgage-free. I'm overpaying at the moment in order to get rid of it as fast as possible.

To those who have no mortgage, and this is a genuine question, does life change all that much when you clear it off - and if it does, in what ways have you noticed?

It enabled me to retire 7 months after completion so massive game changer.
 


grubbyhands

Well-known member
Dec 8, 2011
2,293
Godalming
Well, I paid mine off about 12 years ago after successfully proving I had been mis-sold an endowment policy. Overnight almost, a life assurance company I can't name ,based in Worthing decided to put me in the position I would have been in had I had a repayment mortgage and ,after a lot of too-ing and fro-ing,deposited nearly £50.000 into my bank account. I shoved my monthly repayments up to £1200.00 per month and got rid of it within a year. It was well worth contestiung the mis-selling of the endowment policy but , f*ck, I'm bloody glad I perservered.Also, for the record, I'm ancient.:thumbsup:
 


dazzer6666

Well-known member
NSC Patron
Mar 27, 2013
55,255
Burgess Hill
Paid extra into ours for years, was better than saving. Cleared early as a result. As well as the obvious cashflow boost, the psychological effect of being mortgage-free was absolutely enormous at the time and completely changed my outlook at work. It also helped us decide not to trade up later in life and saddle ourselves with another big mortgage (which I saw loads of colleagues do)
 




Perkino

Well-known member
Dec 11, 2009
6,046
I've been making over payments to reduce the timescale. Hoping to end this 10 years early, in the hope of getting a buy to let. This means we effectively live on a similar wage and lifestyle to when we first took the mortgage but I'm begining to question weather this is wise or if I should get my money to work for us a little differently
 


Eric the meek

Fiveways Wilf
NSC Patron
Aug 24, 2020
6,900
I thought I’d be on my own with 1.5m plus…but there’s three others :moo:

Among those who voted. There may be others lurking. There may be still others who voted, but who lumped all their mortgages together across all their properties, not just the one they live in.

I've already voted. 26k.
 


RandyWanger

Je suis rôti de boeuf
Mar 14, 2013
6,639
Done a Frexit, now in London
It was over half a million last time I looked. Sounds daunting but mortgages are still cheap ways to borrow so free up cash for other investments that bring in more than the mortgage costs. Not worth paying it off yet.
 






HalfaSeatOn

Well-known member
Mar 17, 2014
2,063
North West Sussex
My dream is to be mortgage-free. I'm overpaying at the moment in order to get rid of it as fast as possible.

To those who have no mortgage, and this is a genuine question, does life change all that much when you clear it off - and if it does, in what ways have you noticed?

Not really. The change soon becomes the new normal with the same ‘what can we afford it’ debates.
 




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