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AIBU?

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Original poster

To ask how much your owe on your mortgage and your age?

678 replies

Pussywilloww · 13/06/2023 22:14

Recently remortgaged and the massive rate rise got us thinking. Made me wonder - what is the average people owe? Yes it depends on area/value/when bought etc. But to make it simple I'd be interested in
A) how much owed
B) your age

I'll go first! We owe £115k and I'm 31.

OP posts:
DadBodAlready · 15/06/2023 21:18

Nellynoowhoareyou · 15/06/2023 19:54

Eh, how’s that? Do you mean with rates going up the amounts will be loads higher?

Show quote history

Highly likely if Labour win next election. Interest rates may seem high now but nothing like the 70's when mortgage rates were around 15% under the last true Labour Gov. (Blair doesn't really count because he didn't implement proper left wing Labour policies)

DadBodAlready · 15/06/2023 21:12

£0
49 & 53

Ruesy · 15/06/2023 21:01

53, just under 5k, last payment will be Jan 2025. The early years I really struggled as a single parent and high intrest rates.

Thisgroupneverceasestoamazeme · 15/06/2023 20:55

43 and owe £230000

Catcactus · 15/06/2023 20:43

£110,000 55 & 56
have a lump sum in savings to pay chunk off in 3 years when fix ends. LTV 12.5%. Hope to be mortgage free by 60.

Anonymouslyposting · 15/06/2023 20:39

£610k and we are 33 - also just found out (on mat leave) that there’s a good chance I’ll be made redundant, not looking good!

Iamthegirlwho · 15/06/2023 20:32

132k 48 and 51

Downtherefordancing · 15/06/2023 20:31

Currently owe £60k but house is about to sell and I’m moving to house I can buy outright AND pay off mortgage.

I’m 58 and been paying a mortgage since I was 22. Can’t bloody wait for mortgage payments to stop 😊

Andrasa · 15/06/2023 20:24

£420k, I’m 31. It’s got 24 years left so would pay off at 55 assuming we kept term the same when we remortgage.

I don’t know many people my age without a mortgage of at least 300k tbh. Only those still renting.

ILikePotato · 15/06/2023 20:19

Paid it off last year, 36

whodidapoopoointhebath · 15/06/2023 20:14

About 210k
I'm 43 husband is 39

wasieverreallyhere · 15/06/2023 20:11

20k 53

GeraltsBathtub · 15/06/2023 20:10

FlyingSoap · 15/06/2023 19:56

Yes I mean exactly that, people will owe into the hundreds of thousands in their 30s. Having your mortgage paid off in your late 40s or 50s will be a huge anomaly

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people will owe into the hundreds of thousands in their 30s

That’s already the case for most FTBs in the SE in the last 10-15 years!

TowerRaven7 · 15/06/2023 20:09

22K; age 59. Will be paid off next year.

Mediocrates · 15/06/2023 20:07

£80k

42 years old

NatM70 · 15/06/2023 20:07

Mortgage paid off.
52.

Gough20 · 15/06/2023 20:07

Borrowed £2.5 mil
Owe 200k
Aged 48

3BSHKATS · 15/06/2023 20:05

£165,000 over 2 properties aged 48.
Had to start over with no equity at 40 so feel ive done well all things considered

Nellynoowhoareyou · 15/06/2023 20:03

@FlyingSoap I’m in my (late) 30’s and owe over 300K 😬 didn’t realise this was even remotely outside the norm until reading this thread!!

Kay286 · 15/06/2023 20:03

75k we’re 38 & 40 I could clear it but that would take every bit of my savings

Montbab · 15/06/2023 20:02

36 - Never had a mortgage and probably never will. Born and raised in London paying extortionate amount on rent instead!

Nellynoowhoareyou · 15/06/2023 20:01

idliketogetdownnow · 15/06/2023 19:29

£700k and we're 40. We have about £300k equity in the house at the moment, it's worth £1m. We also have about £200k tied up in a business that we could extract if we needed to.

We can manage the repayments at the moment. We plan to overpay as soon as DC are out of nursery and then downsize at some point pre-retirement.

It does stress me out sometimes but I love our house and we live in the most expensive part of the country outside London.

Your monthly repayments must be astronomical?!

Mesoavocado · 15/06/2023 19:59

Zero - never had one since 20 now 41

Would give it all back for my dad to be here

FlyingSoap · 15/06/2023 19:56

Nellynoowhoareyou · 15/06/2023 19:54

Eh, how’s that? Do you mean with rates going up the amounts will be loads higher?

Show quote history

Yes I mean exactly that, people will owe into the hundreds of thousands in their 30s. Having your mortgage paid off in your late 40s or 50s will be a huge anomaly

Nellynoowhoareyou · 15/06/2023 19:54

FlyingSoap · 13/06/2023 22:17

This thread will look entirely different in 10 years time.

Eh, how’s that? Do you mean with rates going up the amounts will be loads higher?