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Original poster

What age will you be when your morgage is paid off

100 replies

Lardlizard · 04/01/2020 20:32

?

OP posts:
flyingchip · 04/01/2020 20:41

50

Dazedandconfused10 · 04/01/2020 20:43

If I don't make over payments.. 67

addictedtotheflats · 04/01/2020 20:44

If I dont reduce my term (which I will when I remortgage) 58. Took it over 31 years 4 years ago

xyzandabc · 04/01/2020 20:45

If we don't make any overpayments, 69.

Down from 70 when we took it out 2 yrs ago so hopefully will reduce that a bit further.

BlackLambAndGreyFalcon · 04/01/2020 20:48
Pud26 · 04/01/2020 20:50

I took my mortgage out over a 40 year term as the bank said I couldn't afford it any other way. After 3 years I took 10 years off and aim to have it paid in another 10. I will be 43 if all goes to plan 😁

StylishMummy · 04/01/2020 20:50

33

divafever99 · 04/01/2020 20:50

Hopefully 43, 7 years to go.

Oly4 · 04/01/2020 20:52

60 if we don’t overpay (which we plan to)

NeverTwerkNaked · 04/01/2020 20:54

64! Took out a 30 year term. But we are overpaying regularly and any payrises/windfalls will chip also away at it. It is also a big 5 bed house (lots of children) so we can downsize in the future if needed.

RozHuntleysStump · 04/01/2020 20:55

46

sirmione16 · 04/01/2020 20:56

No over payments, 55

Junie70 · 04/01/2020 20:56

Paid ours off 5 years ago, DH was 52 and I was 44.

Sleepthiefsmum18 · 04/01/2020 20:57

64 if we don't overpay. I'm hoping to use the nursery bill money once DC are at school to chip away at it

Biscuitsneeded · 04/01/2020 20:57
oohnicevase · 04/01/2020 20:57

47.. 3 years time and have a lovely big detached house but I fancy one more move so we will see . We should have an endowment of £150 k over what is needed to pay it off so we will see .

rumandbiscuits · 04/01/2020 20:58

48 but that's if we stay in the house we are in now which I don't think we will

AgeLikeWine · 04/01/2020 20:58

I was 46.

Ynci · 04/01/2020 20:58

I was 36

Sammy867 · 04/01/2020 20:59

20 years if we don’t overpay however we took out a 32 year mortgage 2 years ago so managed to cut 10 years off so far when we remortgaged this year for 20 years.

How is everyone overpaying?Are you paying off lump sum when remortgaging or overpaying a small amount monthly?
I’ve been saving and paying off a lump sum when my deal finishes and taking out a smaller and shorter mortgage I.e my mortgage was standing at £150,000 at 30 years so at the end of my fixed deal I paid off £15,000 we had saved over the years and remortgaged for £135,000 for 20 years but 5 years fixed. Is it better to overpay monthly?

Sammy867 · 04/01/2020 21:01

That would make us 50 if we use the full 20 years (which we don’t plan to as I want it paid off by the next end of fixed deal in 5 years time)

ChristmassySpice · 04/01/2020 21:04

I never took out a big mortgage to start with. Then when I moved, I stayed within range and didn't extend the terms. I could be living in a huge house now, but still with a mortgage. But I chose to stay with the original 25 years. So I live in a modest cottage and have been mortgage free since I was 46.

PortiaCastis · 04/01/2020 21:05

Mine was paid last year so 38 but I had inheritance from my Dad.

Dinosauraddict · 04/01/2020 21:05

61 if I don't overpay, but we have a plan to do so starting this year, and I am currently buying another smaller property mortgage free.

Fredy45 · 04/01/2020 21:05

Last year when I was 44. Still basking in the novelty of it tbh.