When do you think you will be / are you Mortgage free?

deise08

Have 7 years down, another 23 to go

beertons

3 years gone, 17 to go.

DebDynamite

December2012 wrote: »

How many of those of you that are mortgage free own the property you live in?

I know strictly speaking if I was renting I would be mortgage free, but that's not quite the same as having a home already paid for.

All things going as they are presently we will own our home outright in 15 years.

Same here. Celebratory drinks in 2049? :pac:

Buford T. Justice XIX

10 years of mortgage payments left but it's a small mortgage with a ridiculously low tracker rate.

5.5 years of a business loan left and am counting the days till its gone.

For the people who have never had loans, do you forsee any problems when the bank asks about repayment history on loans? It's normally the first thing any bank I have had loans with have asked about.

Pherekydes

Received the deeds only two weeks ago.

boobar

20 more years

Would settle for 15

anncoates

Hopefully in 10 years.

Tarzana2

Buford T. Justice V wrote: »

For the people who have never had loans, do you forsee any problems when the bank asks about repayment history on loans? It's normally the first thing any bank I have had loans with have asked about.

I'm guessing they're not planning on applying for a loan in the future.

thesimpsons

12 years left officially but have reduced it to 7 yrs by overpaying. on low tracker now thankfully but do remember interest rates of 15% back in early 1990s. no other loans.

Agent Smyth

Have the money to pay both my mortgages but cant decide what to do.
One is variable rate, so most likely pay that off
But other is tracker, cant make up my mind.

Ihatecuddles

Mortgage free and debt free at 23.

That rhymes

SEPT 23 1989

when i win the lotto or go bankrupt

coffee_cake

no mortgage, no interest

Andrewf20

A few decades. I could go bananas paying it off but I'm choosing to enjoy life to a fair degree. I'll pay / have been paying off a few lump sums once the budget allows.

efb

2040

Got my annual statement the other day. I have 96months left. Not too long really. Planning how to spend all the extra money already.

Moonbeam

Hope to have both mortgage cleared in the next 12 years but that might be optimism. it will be when the eldest starts college.

Bob24

Buford T. Justice V wrote: »

For the people who have never had loans, do you forsee any problems when the bank asks about repayment history on loans? It's normally the first thing any bank I have had loans with have asked about.

Recently applied for a mortgage and this didn't seem to be an issue as I could show monthly transfers to a saving account for the past few years.

Greentopia

Mortgage free and debt free. Inherited Mum's house when she passed away last year.

Never had any debts in my life and never want to. Not even credit card. Parents instilled a Germanic like prudence with money and importance placed on regular savings. Very thankful for that.

Wabbit Ears

12 years done , 8 to go on two mortgages.

TheBeardedLady

No mortgage but in debt for university master's. Hopefully it's worth it. Giz a job.

sparksfly

Mortgage free for 15 years, 1 year into a secured CU loan of 10,000 over 5 years for home improvements. No other debts.

kmc25_1

Next January we will have finished up.
Can't wait and will be counting down the months.
We started back in 99 with a 25 year mortgage and have been prudently paying off a little extra when we can.
Like above posters we were helped by low interest rates.
Kudos to my good wife who got us to switch when I was like the gom standing at the back of the bus telling people he didn't know what a tracker mortgage was.

No mortgage and no debts (bar a harmless amount on a CC which I could clear if I wanted), have no issue with getting loans though cleared my last car loan a few months ago. Being a borrow money is a great tool when done within your means so never understood poeople never doing it. Life's too short and I have better things for doing than busting my self saving for something for years rather than getting a loan and buying it tomorrow.

I will be buying a house as soon as the time is right (asap). Saying you will never have have a motgage or buy a house means you will be forking out for rent long after a mortgage holder will be living rent and mortgage free.

orchidsrpretty

8 years into a 22 year mortgage.

macnug

Mortgage free now. Sold a house in 2007, made a profit, used that profit to buy a house in 2013 outright.

Lucyfur

In 19 years

But we overpay so hopefully a good few years less than that

Menas

macnug wrote: »

Mortgage free now. Sold a house in 2007, made a profit, used that profit to buy a house in 2013 outright.

Fair play to you. I wish we had the balls and vision to have done the same!

Buona Fortuna

macnug wrote: »

Mortgage free now. Sold a house in 2007, made a profit, used that profit to buy a house in 2013 outright.

Yep did the same. We sold in 2008. It was pure accident but we must have been right on the cusp. The Northern Rock thing was going on and there was a lot of stuff about sub-prime mortgages in the states. I remember being childishly amused by the yanks going on about Fanny May

rainbow kirby

No mortgage, there's no way we could afford to buy here.