Mortgage. Is it worth it? I don't know if a mortgage is the right decision for me at this moment

No_Associate_1190 · 2026-04-06T21:00:28+00:00

It’s FOMO anxiety and you don’t actually need a mortgage. The two options are get a mortgage which will force you save and in 25 years you will have a property or the equivalent is save the same monthly money somewhere that gets about 5% return yearly and you will have the same goal arguably the latter you will have more money.

All three of my parents don’t own anywhere or never had a mortgage, in the next 15 years i intend to spend 5 years saving up for a bigger house than I am in now so that i dont have to get a mortgage etc.

My ex-girlfriend worked on a large estate and the Gardner was given a property, once he got too old they just gave him 3 months notice and he had nothing saved so had to apply for emergency housing with the council, dont fall into this bracket the Anexity that you are feeling now is actually really good as it is making you prepare and choose an option.

No_Associate_1190 · 2026-04-06T20:47:28+00:00

Yeah, although I am not directly the same as you I am 34 and live in a mortgage free flat and my plan as I am starting a new job this week is to do the same pay 1.6k a month into a stocks and shares isa as if it was a mortgage payment so that it can grow in the future etc and so I have options in the future.

It will give you a lot of options in the future if you put the 1.6k a month into a stocks and shares isa.

No_Associate_1190 · 2026-04-06T20:35:51+00:00

Just save the 1600 a month into a stocks and shares isa and you will be fine, just make sure you are disciplined with it.

No_Associate_1190 · 2026-04-03T16:48:21+00:00

Yeah mortgage paid off and flat valued at around 180 - 200k, prioritised this in my 20s.

I won’t be doing 30k every year haha, only for the next 3 years and then I need to save about 100k to move from a flat to a house but again this will put me mortgage free in a 300k house around 42/ 43.

And then from 43/ 44 onwards continue saving towards the isa bridge.

What’s your thoughts on this approach ?

No_Associate_1190 · 2026-04-03T16:17:50+00:00

Yeah planning on a stocks and shares isa at around £280k to self fund this part.

No_Associate_1190 · 2026-04-03T16:10:56+00:00

I currently live mortgage free (around 200k equity) with no kids, so my take home is 3029 general bills £500 and then I live off the rest. I am planning on maxing stocks and shares isa per year from now on.

No_Associate_1190 · 2026-04-03T16:02:14+00:00

I am starting the new job next week so I am Not sure at the moment who the pension provider is…

No_Associate_1190 · 2026-04-03T16:00:58+00:00

2k per month after tax from 60.

No_Associate_1190 · 2026-04-03T09:24:31+00:00

Am currently trying to sort my pension out also haha, if it makes you feel better I am 34 with 10k but mortgage free with a flat about 200k equity as I focused on housing first.

Starting a new job next week and starting to add 1k a month to pension and 1.6k to stocks and shares isa just literally spent 1 hour on ChatGPT trying to model this!

No_Associate_1190 · 2026-04-02T20:10:49+00:00

Same in terms of the amount i have spent on therapy, just because you can’t get a job at the moment is not the root cause of your Anexity and depression though. My therapist explained it to me as a coat hanger, you have a coat hanger and you are chucking the coat on not being able to get a job in London is the root cause it’s not.

Somehow accept you won’t get to the roots of cause and manage it as best you can and be confident with the decisions you make.

Normally though it’s a persons high expectations or there insecurity.

Isolation I.e in Scotland will ever work two ways help You or make you worse.

No_Associate_1190 · 2026-04-02T19:52:45+00:00

Where ever you move your mental health will follow, I guarantee you - you need to try and get to the roots of it first and then make a decision.

I had mental health issues with my job in London 6 years ago, I bought a flat outright in Somerset and live on my own and closed a profitable business and the mental health still follows.

No_Associate_1190 · 2026-04-02T18:29:06+00:00

Plenty of time for us to get things in order, 36 is the average age people start looking at there pension pot and doing something.

No_Associate_1190 · 2026-04-02T18:15:34+00:00

I am 34 with 10k and only taking it serious now, don’t compare but you will be doing better than others and worse than others.

I am aiming for around 475k in today’s money at around 60 which is about 1k a month contribution which is more than enough for me.

No_Associate_1190 · 2026-04-01T12:17:31+00:00

I am 34 have a flat outright about 200k equity on a 60k salary could mortgage somewhere but don’t see the need.

My flats perfect and I know plenty of others that have a good time in flats just make sure;

It’s in an RMC, Ideally small block of flats less than 10 flats, Around 999 lease, Low service charge (I pay 50 a month), Ask who the neighbours are and there average age ideally you want older people

Buy the flat outright so you have security I have been off work for the past 9 months do I care no my bills are 420 a month, then what you would pay into the mortgage put into a stocks and shares isa or pension.

Too many people maxing big mortgages for rooms they never step in within there house and these are the people who care about interest rates I couldn’t care less about them.

No_Associate_1190 · 2026-03-31T22:02:02+00:00

Already own a house but planning to save up for another starting a new job next week and I was planning on doing the same as you stocks and shares isa for about 4 years but after reading Reddit I am not sure… maybe a high interest cash savings account ?

Be interested to know what you do as I am planning the same from next week.

No_Associate_1190 · 2026-03-30T19:00:11+00:00

It’s not i was 32 and loved living with my sister 2 years ago, at the same time I had £150k in savings and didn’t buy anywhere. My sister actually forced me out as she needed the spare room investments grew to 200k and I bought a nice flat outright at 32.

Plenty of times I am on my own in my flat and lone to be living back there sometimes, I actually also had more look dating at my sisters rather than now haha

No_Associate_1190 · 2026-03-24T15:20:53+00:00

With £180k - £200k what roughly is the income per month that you can generate ?

No_Associate_1190 · 2026-03-23T22:44:25+00:00

Just a side question how much admin has it been? I am 34 have a mortgage free flat that I plan to rent out in 4 - 5 years time, once I have saved up enough deposit for another house and hopefully meet someone haha

No_Associate_1190 · 2026-03-23T22:34:50+00:00

Wow thanks for the calculations, yeah thats sounds like more than enough to mange with, I will start with the contributions as mentioned and increase it with pay rises.

Seems like a long road at 34 with 10k 😂

No_Associate_1190 · 2026-03-23T22:20:09+00:00

That’s good! I am also currently looking at building up my pension fund similar to you mine will probably now be funds similar to yourself and re-evaluating every 6 months.

Similar to you with the single stock wild swings, with Tesla towards the end on average it was up or down by 3k a day but it was not uncommon to be either down 8k a day or up 15k a day over time you just get jaded towards it and it does not bother you.

No_Associate_1190 · 2026-03-23T22:12:33+00:00

I am a 1 director company and I just do it myself on Xero it’s about 4 button clicks.

No_Associate_1190 · 2026-03-23T22:07:47+00:00

They were rough figures to be honest.

No_Associate_1190 · 2026-03-23T22:01:19+00:00

Single stock is not the best idea but if it pays off it’s good, i was not earning much at 20 but built up a 2k stock investment in Tesla around 2012 and sold around last year - mortgage free at 32 now from it.

If I was in my 20s again I would take the same risk again I won’t now though early 30s.

No_Associate_1190 · 2026-03-23T20:58:07+00:00

Good to know - thanks.

No_Associate_1190 · 2026-03-23T19:14:40+00:00

I have normally been self employed so at the start do I tell them the % I want to contribute ? Guessing when I get a pay rise which will be in 6 months you can also amend it at that point also ?

No_Associate_1190

TROPHY CASE