How old were you when you first got a mortgage?

[RolyPolyBatFace]

My DD is 22 and buying her first house. She was lucky to leave university and get a well paid job and really wants to get onto the property ladder. (We are assisting with a deposit however!)

Anyway it got me thinking - how old were you when you got your mortgage? I was 30 odd so 22 seems very young to me

19, no help with deposit but I don't recall needing a large one.

@atomicnotsoblonde

19, no help with deposit. Best thing I ever did.

When was that?

@minnimiss

19, no help with deposit but I don't recall needing a large one.

Again, out of interest, what year was that?

20 and my ex husband was 24 when we bought our first house. No assistance from parents, just our own hard work.

Mine was in 1999 when I was 21. I had finished uni and got a job and my boyfriend at the time had a flat to sell so that was our deposit. We paid £93,000. That house is now worth £250,000.

22, but I wouldn't have been able to do it on my own. I was in a financially secure relationship.

31

I wasn't young - I was 29 when I got mortgage for first place - two bed maisonette which we loved! We then bought a two bed house at 33. Just bought a 4 bed semi at 38.

21 but it was 40 years ago !!!!

Just turned 25.

@Dannyandsandy she only did a very generic degree - think media type stuff. The key for her has been joining the police fast track programme..she's just about to complete her first year and is on 28.5K with overtime on top of that. So that's how she's able to afford this, her salary is good for her age

26. I didn’t leave uni until I was 24. No help with deposit.

The bank kept demanding I ask my (dead) father or (non-existent) boyfriend to go guarantor. Eventually they just had to accept it was lady money only.

18 in 1986. We saved hard and also had a loan from DH's parents to give us a deposit. We repaid the loan with interest every month. Our mortgage was endowment.
We didn't have a car, phone or hoover. Furniture all second hand.
We split 1992 and I got a mortgage on my own aged 23. Again, an endowment.
Worked 2 jobs to pay bills. Lived on pasta/pesto for years, no hols etc.
Moved a few times since then.
Then got with now DH and had a substantial deposit to put down on joint mortgage.
Endowments finally matured with a great profit (would have paid off original mortgages they were taken out to cover).
This is our forever home, mortgage will be paid off in 10 yrs.
It's taken many years, lots of worry and penny pinching but I'm now comfortable (52).

I'm 25 and buying now. I was approved subject to valuation last month but the purchase fell through after the valuation so I'm trying again with another house now.

No help with the deposit and buying alone. I've been renting since 19. I am able to save a decent amount each month as I rent with someone else and so can split bills etc.

I also started a part time degree alongside working full time so I can save the maintenance loan.

I'm in Wales though and wouldn't have been able to buy if I was still in my SE home town.

26. 14 yrs ago

29 - didn't leave uni till 26 though!

@BlossomOnTrees

How is everyone affording it? Assuming most of you who did this at a you g age either got a mortgage years ago, are in a couple or very high wage if a single person?

I am on a London wage but we bought outside of London, which helps - house cost £250k in 2019 for 2 bed terrace rather than London prices. DP is still training so doesn’t earn very much but we found a building society was more amenable than a bank. No help from parents but most of the deposit came from winning a personal injury lawsuit. I have two single friends who bought in London a year or two before me, one bought a help to buy flat on an average London professional wage but had a good deposit as her parents had saved child benefit for her etc. The other one is on a very high wage. I’m 26 now and around half of my friends own their homes, most of them single.

Aged 25, 4 years ago.

The deposit mostly came from DH’s amassed savings before we met (he was single and lived with his parents until his 30s).

I think it's only on Mumsnet that a vast majority of young , single people in their 20's and 30's are able to get a mortgage in this day and age to be honest.

24, 100% mortgage and it was late 2000.

I think some of these answers are misleading as imagine many got help (either fully or partially) with the deposit but are missing that info out! It would be more interesting to know how old people were when they brought theur first place without any help...

19 when I got my mortgage. Interest rate was 14% 😵

21 and I bought in London with no help from my parents. Raised and saved my deposit myself

I'll expand.
I was 20, joint mortgage with exhusband similar age.
It was 1991, house cost £28000, 95% mortgage.
We both worked full time but low pay jobs, shop and warehouse work.
No help from families but we just bought stuff second hand when we could afford it so had mattress on floor, deck chairs in front room for a while, no car for a few years, no tv even for 12 months.

I don't expect my now teenage kids to be able to do the same because times have changed.

@Fearnecuptea

I think some of these answers are misleading as imagine many got help (either fully or partially) with the deposit but are missing that info out! It would be more interesting to know how old people were when they brought theur first place without any help...

Agree. Difference between "lucky" and "achievement" IMO