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November 12 2019 3.23am

Mortgages

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View doi209's Profile doi209 Flag Fighting for the weak and innocent... 24 Feb 19 9.14am Send a Private Message to doi209 Add doi209 as a friend

Debt and mortgage free with Cornwall house on the market for £800k.

63 and have been retired for 10 years.

 

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View Badger11's Profile Badger11 Flag Beckenham 24 Feb 19 10.04am Send a Private Message to Badger11 Add Badger11 as a friend

I retired at 52 and paid my mortgage off at 55. It was a huge weight off my shoulders and made a big difference to my monthly outgoings.

I was working at the time with people desperate to retire or down shift careers but they had families so could not do this until their late sixties. They seemed to be people on their second marriages who had kids in their forties.

Good luck to those of you still at the coal face if you get lucky and have some money pay off your mortgage it will do wonders for your mental health.

 


One more point

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View aquickgame2's Profile aquickgame2 Flag Beni = summer,Caribbean = winter 24 Feb 19 10.57am Send a Private Message to aquickgame2 Add aquickgame2 as a friend

Originally posted by Badger11

I retired at 52 and paid my mortgage off at 55. It was a huge weight off my shoulders and made a big difference to my monthly outgoings.

I was working at the time with people desperate to retire or down shift careers but they had families so could not do this until their late sixties. They seemed to be people on their second marriages who had kids in their forties.

Good luck to those of you still at the coal face if you get lucky and have some money pay off your mortgage it will do wonders for your mental health.

Couldn't agree more..best feeling knowing you fully own your own property..Got mine paid off in my early 50s.

Anytime I got a lump saved up,I'd bung it on the mortgage best thing I ever did,not only the monthly payment went down but so did the amount I owed.

Mrs wanted to spend it and wasn't happy that I was bunging it on the mortgage.

She happy now tho Winters in the Caribbean,summers in Spain

 

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View AERO's Profile AERO Flag 24 Feb 19 10.51pm Send a Private Message to AERO Add AERO as a friend

Just paid my mortgage off by downsizing to flat as didn’t need 3 bed house good move I reckon Still have buy to let in Croydon with 70 g mortgage left but probably worth 250g . 60 this year so hopefully retirement soon, and season ticket in palace new stand .

 

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View Rudi Hedman's Profile Rudi Hedman Flag Caterham 24 Feb 19 11.46pm Send a Private Message to Rudi Hedman Add Rudi Hedman as a friend

Originally posted by aquickgame2

Couldn't agree more..best feeling knowing you fully own your own property..Got mine paid off in my early 50s.

Anytime I got a lump saved up,I'd bung it on the mortgage best thing I ever did,not only the monthly payment went down but so did the amount I owed.

Mrs wanted to spend it and wasn't happy that I was bunging it on the mortgage.

She happy now tho Winters in the Caribbean,summers in Spain

I thought you owned a Caribbean island.

 


COYP

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View Lyons550's Profile Lyons550 Flag Shirley 25 Feb 19 11.31am Send a Private Message to Lyons550 Add Lyons550 as a friend

I'm aspiring to follow a similar path to Tom The Eagle above having set up my own property company last year.

I have no mortgage of my own having sold my place and thrown the money into the company. The long term plan is to retire by the time i'm 55 and live off of the rental income.

Re AQ2's point about paying of your mortgage early if you can; I couldnt agree more. This video is a great example as to the potential we all have to pay off our mortgages within 10years if we have the discipline to do so. forget that its a US example; teh principles are still the same. [Link]

 


The Voice of Reason In An Otherwise Mediocre World

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View aquickgame2's Profile aquickgame2 Flag Beni = summer,Caribbean = winter 25 Feb 19 1.30pm Send a Private Message to aquickgame2 Add aquickgame2 as a friend

Originally posted by Rudi Hedman

I thought you owned a Caribbean island.


Only in the Winter......

 

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View 7mins's Profile 7mins Flag In the bush 28 Feb 19 3.53pm Send a Private Message to 7mins Add 7mins as a friend

Early 40's.
Own a 3 bed house mortgage free.. rent it out.

Own a one bed flat, mortgage free... live in it

I buy houses, renovate them and sell them on.
I'm halfway through a job £110k mortgate on it... will hopefully sell for 290k.
Although that £180k profit sounds good... I will have to use some of that for deposit on next job.

 

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View cryrst's Profile cryrst Flag Chatham 28 Feb 19 8.57pm Send a Private Message to cryrst Add cryrst as a friend


Ffs i work and pay a mortgage and will for 8 more years.
Everyone is an entrepreneur on here.
Any normal posters out there?

 

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View blackheatheagle's Profile blackheatheagle Flag Blackheath 01 Mar 19 6.24am Send a Private Message to blackheatheagle Add blackheatheagle as a friend

I may sound normal

Early 40s, have no mortgage (on rent) and have no intention for a mortgage in coming years. It is simply not feasible to buy the house i rent and i don’t want to downgrade myself f just to own house. However, i am considering to go for 1 bedroom flat mortgage for investment but that sounds stressful as well.

This is a bit usual result of being newbie in UK when you live in London where prices are crazy.

Edited by blackheatheagle (01 Mar 2019 6.25am)

 

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View Phil’s Barber's Profile Phil’s Barber Flag Crowborough 04 Mar 19 7.52pm Send a Private Message to Phil’s Barber Add Phil’s Barber as a friend

Originally posted by 7mins

Early 40's.
Own a 3 bed house mortgage free.. rent it out.

Own a one bed flat, mortgage free... live in it

I buy houses, renovate them and sell them on.
I'm halfway through a job £110k mortgate on it... will hopefully sell for 290k.
Although that £180k profit sounds good... I will have to use some of that for deposit on next job.

And a slice for CGT.

 

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View Casual's Profile Casual Flag Orpington 04 Mar 19 11.10pm Send a Private Message to Casual Add Casual as a friend

Originally posted by Phil’s Barber

And a slice for CGT.

I thought the same , plus nowhere near £180 grand profit. Mortgage payments, stamp duty (if above the threshold), estate agent fees , labour/material costs , solicitors fees, CGT.
Also in this market , people aren’t getting what they’d expect for their properties.
Good luck to the poster. But he would have needed 100% mortgage, with no deposit and no costs to be making a 180 profit.

 

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