If you’ve paid off your mortgage, how much is your house worth?

We’ve almost paid the mortgage off. Bought 13 years ago for £400k. Have £40k left and will paid off later this year as we overpay. House now worth £800k I think - we couldn’t afford it now!

Bought my bog standard 3 bed semi, ex council house (from private owners) in 1995 for £57k.

Paid off the mortgage 5 years ago and it's worth around £470k now.

ETA: I was 25 years old.

Bought outright 30 years ago £107k, still in same house, now worth about 500k. I'm 62.

We are old(ish!). Bought for much less than current value but spent a lot getting it as we wanted it. I worked in the city at a time when bonuses could be taken as shares and nothing lost to tax and NI as long as you held onto them for 5 years. Took all bonuses like that for a decade. Went back to work when DC1 was 5 months and stayed off a bit longer with DC2 but not much. DH worked hard too and earned well.
We didn't have fancy hols often and instead paid the mortgage off in chunks when we could. We talked to the DC about why we wanted to do it. We did everything we could ourselves. DC would help decorate with us from when they were 8 and 10. Both DC got into good state schools and we never tutored but we helped them where we could. Cleared it when we were 53.

We paid ours off years ago. It’s worth about 1.2m now. The mortgage was only about 50k. We bought it in the 1990s.

There are so many variables on being mortgage free, inheritance, extra income, interest rate changes and over payments.

We bought our house in 2018 for 285k, mortgage was for 265 original mortgage was 20 years. I’m now 38 and we should be paying off the end of this year. House is now worth about £415

We private rented before we moved here, which was so expensive compared to our mortgage. We’ve always over paid using this difference, any pay rise or funds left at the end of the year have helped to just keep chipping it down!

looking forward to the final payment!

Bought first house in 1996 with a £60k mortgage. Paid that off in 2005 with inheritance money. Sold house for £600k and bought current house outright for less. Current house worth around £600k I imagine.

Yes, we first bought in 2013 and are now in our second (and last for the foreseeable). Salaries aren't going up enough to be able to keep buying bigger and better!

About 250k.
4 bed detached.

I bought in 2012 for €255k, had a mortgage of 230. Persistently overpaid it, and cleared it in 2023.
House is now worth over 500k.
I’m 46.

I suspect many of us are 50+ and moved up the property ladder taking advantage of rising house prices. I bought my first flat in London in 1999 on one salary for £55k. Sold it 3 years later for £125k. Then bought a house for £195k with DH using my equity and his savings. Sold that three years later for £285k bought current house in London for £385k Mortgage was never more than £150k due to equity. Paid it off 5 years ago. House now worth £900k.

Not paid off yet, but really hoping to in next seven years, by the time our 10-year fix comes to an end. We'll both be (just) under 50. We bought our house for £310k in 2017 and it's probably worth about £350k now. We're in the SE, so there are much grander houses around, and some days I think a better house would be nice... but we decided to prioritise security, being able to help out DC (who will be mid-teens when we're paid off), have more disposable income to enjoy, etc.

Interesting that you mention 'moving up the ladder'. It used to be common, and it might vary geographically, but in my peer group (forties) people don't really move anymore! Many have stayed in first homes, a few have moved into a second to accommodate growing families, but the idea of a FTB home followed by three or four moves just seems impossible. Mainly I guess that people are having to buy much later due to the cost of renting and amount of deposit they have to save to even consider it.

Paid off £180k mortgage in 18 years with help from inheritance. Now worth £425k.

£75k cost (plus additional for conservatory, windows and roof as it was a flexi product) so probably £120k.

Repaid when 48.

BUT we had a 0.25% above base tracker in place when the rates fell to virtually zero. So instead of dropping our payments we upped them to £1000 a month. With pennies interest we paid it off fast while we could. And then low interest rates continued for years!

Its worth about £500k - if anyone wants to live in Cornwall that is. Not sure if they do any more?

Mortgage paid off ten years ago when I turned 40. Worth .£500k
Paid nowhere near that as we built it

We’re late 30s. Bought in 2019 for 450k & paid off in 2024, probably worth 475-480k now.

And that’s how we were able to buy our £850k house outright, along with other asset sales. Now worth £1.2million.

Ours is worth 1m and we paid off the mortgage. Original purchase price was 500k and we borrowed 400k. Paid it off over 15 years by overpaying a lot.

Maybe £340k, paid off 5 years ago..now mid 40s considering moving.

Paid off last year at 41, house is worth around £550k.
Bought it in 2014 for £280k, mortgage of £220k

Perhaps you need to apply a bit of critical thinking to this one, @Georgeinacan
someone who bought in the 1980's will have huge amounts of equity, as their £650,000 property was a consequence of several moves up the property ladder over the past 30-40 years.

The only people I know who have paid off mortgages are those who bought in London and moved near me (north) House prices here are not nearly as affordable as people seem to assume, but obviously not London prices (definitely not London wages here either)

Most people I know didn't (couldn't) buy until in their thirties, so even with over paying they're unlikely to be mortgage free until fifties, especially as for most I assume ability to over pay would be affected by the high cost childcare years.

Well ours was bought for about £250K with a mortgage of something like £140k (can't remember). We paid it off about 10 years ago but it's worth at least 4 times what we paid for it (obviously with inflation that's not real, but it's still gone up a hell of a lot). It's all about timing & context.

Some people actually buy their house outright, no mortgage.