[Finance] How much left on your mortgage?

[Wrong-Direction]

I'm contemplating a 35 year mortgage wtf

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[Denis]

Paid my mortgage off when I was 55, 15 years ago. Lovely feeling.

 

[LamieRobertson]

I thought I’d be on my own with 1.5m plus…but there’s three others

 

[LamieRobertson]

I'm contemplating a 35 year mortgage wtf

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Has the missus made her mind up then

 

[BBassic]

Got a bit over 100k left on one bit and 70k left on the other bit.

Will amalgamate when the smaller bit is up for renewal.

 

[hans kraay fan club]

None of your business.

 

[patchamalbion]

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. .

 

[Wardy's twin]

I reckon Vagrants mostly

viagrants more likely

 

[Beach Hut]

Zero from around 4 years ago

 

[studio150]

All paid 7 years ago.

 

[BN9 BHA]

None of your business.

The poll needs this option

 

[Beach Hut]

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, 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.

 

[dazzer6666]

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]

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]

I thought I’d be on my own with 1.5m plus…but there’s three others

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]

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.

 

[Doonhamer7]

47days to go all £60ish of it! Happy days

 

[HalfaSeatOn]

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.

 

[Albion in the north]

2 properties and a commercial property worth circa 400K paid off, 5 others on 1/2 over base rate BTL owing around 300k. Your money goes a long way up north!