Mortgage Free TODAY!!
- Thread starter Brel
- Start date
Peppermint_Heaven
on the surface
if ever there was reason to partake
D
Dave
Guest
Congratulations to you. I'm happy for you. Have a nice party!
hatfull
HIM-full
Must be a fantastic feeling! Congratulations
Brel
Guttersnipe
In reality, I will have 1 or 2 glasses and then stick to the pints! The time I did get drunk on Champagne was when I was upgraded to First Class on a BA flight. They had no veggie food, so kept giving me more and more champagne. When we landed (2 and a half hours later) I was well and truly pissed!
Brel
Guttersnipe
Thank you. To be honest it feels like I'm just returning an overdue Library book. I've had this day as a target for a few years now, so it's a bit of an anti climax now it's a reality? I am told that once you go a few months without seeing the money go out, the thrill hits home!
Still, the booze might help?
Brel
Guttersnipe
Cheers. Not a party, just my wife and me today. I'm away with work next week, so were keeping it low key for now. In a few weeks we will take out friends and family for a proper splash!
hatfull
HIM-full
well, at least you'll be able to afford a holiday/home improvements/a new car etc. I'm actually looking forward to starting a mortgage, having rented for 8 years
hoping for a house and not just a flat, but we'll see.Congrats!!!!!!!!!!
Thank god I managed to do without mortgages, at least until now.Getting drunk on champagne is fun!
You earned it...
Brel
Guttersnipe
well, at least you'll be able to afford a holiday/home improvements/a new car etc. I'm actually looking forward to starting a mortgage, having rented for 8 years
It only seems like 5 minutes since we rented (it was 11 years ago). Now is a good time to be renting, whilst watching the house prices come down to an affordable level. We did just that, then pounced at the right time.
We have put some cosmetic home improvements on hold, but kept up with the important stuff (new roof on the kitchen, new boiler etc). So the first thing will be a total re-fit in the kitchen. I'm looking forward to that.
girlunafraid
Banned
Having been mortgage-free for about a year now, it's a myth that there is extra money per month. When your OH spends all his cash on daft records and memorabilia, it's just the same as before. I should sell all his stuff and take a decent holiday mm?
P.S. leave out the champagne. I had projectile vomiting the last time I tried it. Eugh.
P.S. leave out the champagne. I had projectile vomiting the last time I tried it. Eugh.
girlunafraid
Banned
my mortgage finishes in 6 years, can't wait I'll have some spare cash to spend on the records I've been after all these years!
love
Grim
P.s. Maybe I ought to flog some of her shit & treat myself for once eh?
love
Grim
P.s. Maybe I ought to flog some of her shit & treat myself for once eh?
Jukebox Jury
Retired
Nice one Brel, enjoy the shackle free house
As for me, £59,500 to go
Jukebox Jury
As for me, £59,500 to go
Jukebox Jury
Congratulations, but you make more in the long run by keeping your mortgage as high as possible (even though you're paying interest) and investing the money you'd otherwise have used to pay down the mortgage early.
$313,000 to go
$313,000 to go
hatfull
HIM-full
yeah. Well, we're going to have to wait a year or so before we can buy, but we're moving to rent a bigger flat before then (because 2 people, a cat and a tiny flat don't go)
PregnantForTheLastTime
Hideous trait.
FIRST: Congratulations, Brel! What a great feeling!
I suspect it works differently in England. If they don't get to deduct the mortgage interest paid from their income taxes it completely changes things.
In the US we are allowed to deduct the amount of interest paid on our mortgages (for your primary residence only, if you have more than one or own rental property) against our income. So we don't have to pay income tax on the portion of our income that went just toward the interest. The result is that it reduces the effective interest rate of our mortgages, which are very low right now for most people. So if your mortgage is at 5.75% (I think mine is) and you're basically getting the equivalent of a 4% rate after the tax bonus, if you find an investment that pays 6%, you're getting that money for free.
Still, I'd rather have a flat tax. How does it all work in the UK? I've always been curious, since watching some of those British house-hunting tv shows.
Holy shit, NRITH. Ouch. You weren't kidding. I'm glad I live here and not there...
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Brel
Guttersnipe
It's done. We even had a marching Brass Band greet us as we walked out of the Building Society. How Northern!
Thanks for the comments. I'm not bragging, I'm just happy. It's a job done, and a box ticked in our grand scheme.
Here in the UK, paying off your mortgage early is by far the best thing that homeowners can do (providing you don't buy a product with penalties). I think that NRITH is assuming that we get the high rates of tax relief that US mortgage customers get? We used to, but this has been reduced over the years to an insignificant figure.
As I am now rolling in money, I have gone mad with it. I've rented a DVD from the Library, bought some seeded rolls and had a little wager on Spain tonight. I'm off out in a few minutes to have at least one bottle of Verve Cliquot which should go down nicely with a few pints!
I might invest in Art? (and a new Man City Season ticket - same thing!).
Thanks for the comments. I'm not bragging, I'm just happy. It's a job done, and a box ticked in our grand scheme.
Here in the UK, paying off your mortgage early is by far the best thing that homeowners can do (providing you don't buy a product with penalties). I think that NRITH is assuming that we get the high rates of tax relief that US mortgage customers get? We used to, but this has been reduced over the years to an insignificant figure.
As I am now rolling in money, I have gone mad with it. I've rented a DVD from the Library, bought some seeded rolls and had a little wager on Spain tonight. I'm off out in a few minutes to have at least one bottle of Verve Cliquot which should go down nicely with a few pints!
I might invest in Art? (and a new Man City Season ticket - same thing!).
vicarinatutugal
can't reMember
aww brilliant, what really great news for you.
