Mortgage Free

User avatar
frv
Moderator
Posts: 3926
Joined: Wed Sep 03, 2008 11:09 am

Mortgage Free

Postby frv » Wed Nov 13, 2013 3:25 pm

Today is a great day and I've paid the final lump off my mortgage and am now a home owner :D

I was very fortunate to pick a mortgage from ING Direct in 2007 which was base rate + 0.89%. When the base rate plummeted I left my payments the same and even overpaid for a while which really made a difference to the amount outstanding.

I have used every money saving weapon in my arsenal of techniques to achieve this goal like using coupons as cash, stoozing credit cards, using cashback sites religiously, shopping around, hypermiling, etc and it's finally paid off.

47 and mortgage free - yippee 8-)
'15 Audi A3 Sportback SE CoD S-Tronic - 5+ year average 55+mpg
Image

(Retired) '06 Honda FR-V 2.2 i-CTDi - Best/longest tank: 67.92mpg (+51.6%) / 815.5 miles.

MikeMarsUK
Posts: 210
Joined: Mon Jul 16, 2012 1:41 pm

Re: Mortgage Free

Postby MikeMarsUK » Wed Nov 13, 2013 6:19 pm

Congratulations :-)
Audi A2 1.4 TDI w/6-speed gearbox. Best tank 87mpg, average of all tanks 75mpg. Fuelly ID is MMUK.

User avatar
tighterse
Posts: 737
Joined: Sat Dec 29, 2012 5:58 pm

Re: Mortgage Free

Postby tighterse » Wed Nov 13, 2013 7:16 pm

Now you become the "Bank of Maw and Paw". With kids - mortgage free - never!!
Kia Ceed 1.6 crdi isg Retired undefeated on 25,720 miles and 62.91 mpg overall

Now driving my second Sportage.

Warning. May contain a nut.

dancingbear84
Posts: 287
Joined: Wed Apr 20, 2011 7:54 pm

Re: Mortgage Free

Postby dancingbear84 » Thu Nov 14, 2013 7:16 am

Well done mate. That is really quite an achievement. Time to reward your hard work with a trip t'pub! (tomorrow after work obviously, not at 7.15 on a Thursday morning!)

Sent from my GT-I9505 using Tapatalk
1998 Peugeot 106 1.5d zest 3
Image
MPG Claimed (on autotrader): 53

User avatar
frv
Moderator
Posts: 3926
Joined: Wed Sep 03, 2008 11:09 am

Re: Mortgage Free

Postby frv » Thu Nov 14, 2013 7:36 am

Thanks Ben, TE and Mike :D
'15 Audi A3 Sportback SE CoD S-Tronic - 5+ year average 55+mpg
Image

(Retired) '06 Honda FR-V 2.2 i-CTDi - Best/longest tank: 67.92mpg (+51.6%) / 815.5 miles.

greenman
Posts: 287
Joined: Thu Sep 04, 2008 11:14 am
Location: Wales

Re: Mortgage Free

Postby greenman » Fri Nov 15, 2013 9:26 am

Well done, you did that really well at 47!
Skoda Fabia Estate SE 1.2 TSi 110 PS

User avatar
frv
Moderator
Posts: 3926
Joined: Wed Sep 03, 2008 11:09 am

Re: Mortgage Free

Postby frv » Fri Nov 15, 2013 11:29 am

Cheers gm - it was always my target to do it before 50 and overpaying knocked a few years off - well worth doing :D
'15 Audi A3 Sportback SE CoD S-Tronic - 5+ year average 55+mpg
Image

(Retired) '06 Honda FR-V 2.2 i-CTDi - Best/longest tank: 67.92mpg (+51.6%) / 815.5 miles.

User avatar
Karl
Site Admin
Posts: 1456
Joined: Tue Jun 17, 2008 6:02 pm
Location: UK
Contact:

Re: Mortgage Free

Postby Karl » Mon Dec 23, 2013 3:48 pm

That's some good going there Gord!

We currently overpay by nearly £200 a month and It'll knock about 4 years from ours. What amazed me most was the amount of interest it will save too.

At current rates I'll be done in about 17 years, so should be when I'm about 50.
2015 Skoda Octavia VRS Combi 2.0 TDI 184 DSG in Candy White - 50MPG and climbing

User avatar
Smithsk71
Posts: 231
Joined: Fri Dec 06, 2013 8:27 pm
Location: Bedfordshire

Re: Mortgage Free

Postby Smithsk71 » Mon Dec 23, 2013 5:19 pm

Well done, it's touch and go but I might manage it by age 50. Just remortgaged for 5 years at what I think is a great rate and am allowed to overpay 10k a year. In the new year will decide what we can definitely afford and stick to it!
2008 Touran 1.9 SE - best tank 752 miles
2000 Golf GTI - best tank 475.9 miles
Retired - 2013 Clio dCi 88 - 32 fill-ups (27,631 miles) @ 68.6mpg average

User avatar
frv
Moderator
Posts: 3926
Joined: Wed Sep 03, 2008 11:09 am

Re: Mortgage Free

Postby frv » Mon Dec 23, 2013 8:51 pm

Go for it, it's amazing what you can achieve if you put your mind to it :D
'15 Audi A3 Sportback SE CoD S-Tronic - 5+ year average 55+mpg
Image

(Retired) '06 Honda FR-V 2.2 i-CTDi - Best/longest tank: 67.92mpg (+51.6%) / 815.5 miles.

Who is online

Users browsing this forum: No registered users and 7 guests