How old Are you and how many years do you have left on your mortgage

[Lardlizard]

We have 15 years left and are 40

We are early 50's paid mortgage on two properties paid off at 37 and 40.
It was much easier with one of us working though, we'd still have a lot to pay if we'd both worked.

43, have about 4 years left. Fil wants to pay it off for us as an early inheritance.
We’ll be moving in the next few years to a larger property in a better town for schools.
I don’t know? I can’t even think what I’m gonna make for dinner some days, never mind the future.

Mid 60’s with 5 years left. It’s a low rate tracker & easily affordable so no worries. We may pay it off when we sell some assets but may just leave it to full term.

Thanks OP, I like these kinds of threads as I have no one IRL to have these conversations with.

I'm on track to have mine paid off by 56 but I stopped overpaying so aggressively and started investing instead, as I think my rate is pretty low.

Those of you that are mortgage free, do you tell people that you are mortgage free?

When we pay ours off next year we are not going to tell anyone in real life

37 and 12 years left.

I'm 34, DH is 31, and we have 25 years left.

No we don’t tell people we are mortgage free. We have a large house in London, so I think people assume we still have a big mortgage in our 40s, and we don’t really talk about it.

We’re not mortgage free yet but when we are I’m not planning on telling anyone. No one wants to hear it. I’d rather quietly get on with saving for retirement. I’ve seen people show off about finances before-a flash car, a pay rise etc it’s embarrassing when things then don’t work out for them.

It’s going to be hard with a few of our friends though, the ones who like to splash out whilst we live relatively modestly. Sitting listening to their tales of exotic holidays while we manage a week in Europe and a caravan holiday knowing that we’re quietly getting the mortgage clear instead.

I'm 38 and have 8 yrs left. 25 yr term. Cannot wait to pay the mortgage off.

Mortgage was paid off by the time DH and I were 40.

We had good salaries and whilst we still went on lovely family holidays etc we made a conscious effort to throw as much as we could at the mortgage and not "fritter" money on "lavish" rather than "lovely".

DH and I are both 32 and have 20yrs left to pay - started with a 25yr Mortgage 2 years ago when we brought our 1st House but we have recently renegotiated a new fixed term and pay off an extra chunk of the capital so was able to get it down to 20 years without affecting our monthly repayments. We hope to continue to be able this approach periodically and have it everything paid off within the next 10-15years

39 and 25 years, but it will be paid off before that. We tend to overpay by the max every month, then pay off a lump sum when the fixed term ends. We just like having the minimum required payments low as it gives us flexibility.

Hughes - same here.

Friends don't know our mortgage was paid off years ago. We don't advertise it.

However, we had quite a few years of some of them showing off (being frank) about what they could "afford" (lavish vs our lovely).

Now they are fretting about money and that they'll be working "forever" whilst planning their next "instagram" holiday.

I just nod and let them get on with it.

To be clear I'm not in favour of depriving yourself in extremis to pay off your mortgage but think there's is balance to be found, for those of use fortunate enough to have the choice, between immediate gratification and longer term plans.

49 and 3-4 years left

40 and 9 years left. It seemed like forever when we took it out.

Almost 31 and we have about 9 years left

41, between one and two years left. Overpaid from day one.

As an outsider looking in (don't live in the UK), why is there a big rush to get a mortgage paid off?
Is it just to avoid the monthly payment? Or to be certain that the home you have belongs solely to you as an investment? Not goady questions btw, I've been gone from the UK a long while and I was in my 20s when I left so don't really understand the UK thinking behind home-owning and mortgages etc.

I'm 39, and I'm pretty sure my mortgage is due to run until I'm 60-ish but we're not in any particular hurry to pay it down.

33, officially 18 but should be done in 6.

Paid off mortgage at age 45.

Strokethefurrywall for us it was for security so if DH or I was made redundant or could not work though illness we would still be ok because without a mortgage we could easily survive on one wage.

ANiceLuxury yes we tell people if it comes up in conversation as I know a few people trying to do the same thing e.g. overpay to clear it early.

I'm 46, it was paid off just over 11 years ago.

23 years left at 39. However overpaying so it will be done well before we are 55. We had a large deposit so only have a small mortgage that can be covered with one wage if needed. We could of gone much bigger but want to enjoy life too. Our first home is hopefully our forever home too .

@Strokethefurrywall you pay a huge amount of interest. I'm overpaying by about £350 per month and it will save us over £30k in interest

36 and mortgage free.

No we don't tell people. Reason for paying off early is that it gives you security and it opens up so many opportunities not having a monthly mortgage payment.