Mortgage paid off... now what?

[RichardCranium]

Poor ChimpMaster. So many replies and nobody got the point of the post.

Mortgage paid off

Well done!

So, was it a 25 year mortgage, and how many years did you do it in?

[ChimpMaster]

Poor ChimpMaster. So many replies and nobody got the point of the post.

Well done!

So, was it a 25 year mortgage, and how many years did you do it in?

LOL thanks RC. It's not quite as straightforward as that because I've had help from my parents... like an early inheritance (we wanted to beat the 7 year rule), but I certainly did my part too and it feels good not to be lumbered with any debt (except on 1 BTL).

Nice to see that we've had some varied and interesting opinions posted here. I'm still waiting for AlreadyPacked to provide me with some solid ideas apart from BTLs!

[milanbenes]

interesting thing about this thread is

the number of people on this forum who have paid off their mortgages

anyone care to count them ?

good show chaps

Milan.

[DS23]

Poor ChimpMaster. So many replies and nobody got the point of the post.

whs


we paid off our mortgage in december
25 year - took 8

hoping the wife resists the temptation to start again

she won't

[alreadypacked]

LOL thanks RC. It's not quite as straightforward as that because I've had help from my parents... like an early inheritance (we wanted to beat the 7 year rule), but I certainly did my part too and it feels good not to be lumbered with any debt (except on 1 BTL).

Nice to see that we've had some varied and interesting opinions posted here. I'm still waiting for AlreadyPacked to provide me with some solid ideas apart from BTLs!

I am still looking myself, currently looking a shares, but not spent any money yet. (accept holidays )

I liked a quote from the book, it went something like "Only buy shares in a company that is so simple an idiot could run it. Because one day, one will"

Maybe we should start a share tip thread

[FiveTimes]

the number of people on this forum who have paid off their mortgages

We are about 18 months from being 100% offset. Then we can build up another pot of cash

[milanbenes]

it seems,

anybody with the good fortune to become mortgageless,

then needs to:

. resist the temptation to go for a new mortgage and larger property - just because you've paid off the mortgage does not mean you must now get a bigger house - don't listen to Mrs if she is that way inclined

. start aquiring other properties and build an assets portfolio

. the asset portfolio will lead one on the path to cahflow positive income from investments from the rents and keeping up with inflation based upon the capital appreciation


Milan.

[alreadypacked]

it seems,

anybody with the good fortune to become mortgageless,

then needs to:

. resist the temptation to go for a new mortgage and larger property - just because you've paid off the mortgage does not mean you must now get a bigger house - don't listen to Mrs if she is that way inclined

. start aquiring other properties and build an assets portfolio

. the asset portfolio will lead one on the path to cahflow positive income from investments from the rents and keeping up with inflation based upon the capital appreciation

Milan.

But things can go wrong with property, it can eat into your time and money. Not guaranteed, then nothing is.

[Churchill]

But things can go wrong with property, it can eat into your time and money. Not guaranteed, then nothing is.

Death and taxes. Plan B, buy a funeral directors and marry an accountant.

[DimPrawn]

Talking of property for sale.

This looks fantastic from a distance.

20 bedroom house for sale in Ruperra Castle, Lower Machen, Newport, NP10

Like at least a mile away.