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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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:
JamNittyGritty · 14/06/2023 15:40

Just over £200,000 - am 51 & paying on my own after divorcing and buying a new home.
Feel very lucky to have been able to buy on my own but am rather overwhelmed at the amount, and 22 years of payments still to go at my age.
Jealous of all those who are finished!

CreationNat1on · 14/06/2023 15:39

44 years old.

Mistressofnone · 14/06/2023 15:38

£225k both 41

mumlikeaboss · 14/06/2023 15:33

Approx £350k, both mid-thirties.

DiscoBeat · 14/06/2023 14:36

Zero at 30. But everyone's circumstances are different so it's such a open question.

AntiStuff · 14/06/2023 14:32

£360k aged 49

LaurieFairyCake · 14/06/2023 14:30

£550k

Aged 53

elizabethdraper · 14/06/2023 14:23

€50k - 48

FourTeaFallOut · 14/06/2023 14:22

£62k and 44/46. A chunk of that is for a recent extension. Planning on making overpayments and should have it nutted out, or as good as, before the eldest goes to uni.

Creepyrosemary · 14/06/2023 14:17

230k, 44 and 46

Heatherbell1978 · 14/06/2023 14:16

£260k
45

We've just taken out £75k for school fees and should be able to repay in full from pension in 10 years time

TheNinny · 14/06/2023 14:14

80k, 38 and 40

ThankmelaterOkay · 14/06/2023 14:11

The better 2 part question (if you want an X and Y) is:
Age vs Equity

SunSparkle · 14/06/2023 14:09

£295k and 32 years left to pay. I’m 35, partner 37. Plan overpaying when we’re done paying so much in childcare.

Kathy34 · 14/06/2023 13:50

19,741.00 I'm 38 and fieance is 55.

Nordicrain · 14/06/2023 13:47

£350k and 39.

But this is a meaningless question and doesn't tell you anything useful. I could owe £1m and be able to pay in bck in 5 years, or £100k and be paying it off for the next 25. I could owe £500k but on a £3m house and be in a better position than if I owed £150k on a £175k house. There there is interest rate, etc etc etc.

MintJulia · 14/06/2023 13:36

£22k I'm 60.

But this is my second mortgage. I owned my last house outright at 45. Then Ds' dad proved to be an abusive prat and we had to leave and buy us another home 12 years ago.

This one will be paid off in three years. Only 36 payments to go 🤗

MortgageConundrum · 14/06/2023 13:29

@stopthejetwashingmadness I just replied to another poster but forgot to tag you. If you scroll up to the post I have just made, I’ve explained my sorry tale of woe.

MortgageConundrum · 14/06/2023 13:27

@Minfilia no, not interest only, it is a repayment mortgage. I bought the first house with my then-partner, and when we split up he bought me out. However, house prices had shot up in that time, so the house I bought on my own was three times what the first one cost (despite downsizing from 2 beds to 1 bed) hence needing to borrow a LOT more.

inloveandmarried · 14/06/2023 13:22

My mortgage was cleared when I was 45. It could have been cleared by 35 but we had an interest only mortgage and at the time rates were an all time low. So we invested the money we'd have paid it off with instead. This yield at the time covered the mortgage and more so made the best sense.

Nevermind31 · 14/06/2023 13:20

£600k, late 40s, LTV 60%, had much lower mortgage but moved to a much bigger house
holiday home is mortgage free though

Hibernatalie · 14/06/2023 13:17

£340k
House worth about £650k
I’m 40.

Blackandwhitehorse · 14/06/2023 13:17

£143k

we are 37 and 40

lauraisa · 14/06/2023 13:16

263k

40 & 43

Muddlingthroughthissocalledlife · 14/06/2023 11:23

265k
40 and 43
25 years to go
Ltv 45%
Still need to move to our forever home - so could still end up with a bigger mortgage