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

22. It was 1998-I had just qualified and DH had got his first post-grad job. Our mortgage was buttons.

25 on my own with 95% mortgage 20 years ago

1980 aged 21 and married
Had to move 7 yrs later for work . Could not sell so signed a deed of surrender to council so no equity. Had saved 15k ( dont ask me how) and started again. Stayed 7 yrs and had equity (1991). Bought detached house in country. Still here after 30 yrs. Mortgage free since 2006. No inheritance for us but hard work. My ds just built a 3500 sq ft house and also a buy to let. Low Mortgage but saved very hard after 10 years in Oz no help from us. My other ds has bought an apartment has a tenant that pays Mortgage. Hard road but i think we gave them good advice with property.

25. I had wanted to for years but that was when I had some financial and job security.

19

24. In London so I think that was quite young for London.

21 in 1989, flat in the SE it cost 36k and I was earning 12k a year, my BF at the time was 20 and was on 10k. We had saved up for the deposit.

I just checked it last sold in 2011 for 70k.

19

Me and DH were 23

23 this year. I had family help with deposit. Dp and I have a 2 year old so makes sense. We’re very lucky when it comes to that.

21 in 2011

24 (2019), we didn't have any help with our deposit.

21 with 95% mortgage on a 30s semi, but
10 year old banger that had been clocked
No fridge
No washing machine
Wedding cost well under £100 including my dress, all flowers, buffet reception, church fees (£17)
No settee - previous owners left one in the house they couldn't get it out.
Slept in the back bedroom as no money for curtains
2nd hand gas cooker for £19 bought from a junk shop, fitted by a BGas showroom sales assistant as a foreigner for £5
4 star 50p/gallon
Beer about 20p/pint
Got a phone installed about a year later.
Honeymoon was 4 nights in a Scottish & Newcastle pub in Northumberland

Absolutely no help from parents either side. XH had been supporting his parents so not much joy either.

It was just how things were.
You either had a clapped out Escort or Vauxhall HB Viva and the Haynes workshop manual to keep it on the road.

Those were the days!!

Standard income tax at 33% my net pay was less than a student grant to which I was contributing while doing 1 x 12hr day at a tech to gain RIC exams.

Pay increases capped at £6/week 6% from memory
Inflation at something like 25% rising to nearly 28% 18 months later.

Top rate of income tax was at least 98%....

41

21, 40 years ago. I had some help with the deposit. When £30k bought two double bedrooms in zone 2 London and came with a garage and a parking space . Sold it 5.5 years later for £95k and bought my first house.

24

21 when I first got married. I’m 42 now, divorced and mortgage free. So pleased I got on the property ladder when I did, as it’s so hard now for first time buyers.

24 with an ex (he put in deposit, I had larger salary), split with him at 25 and then bought him out so paid him back deposit and got sole mortgage at a few weeks before 26!

Small parental loan (20% of the total deposit) used to pay ex off quickly so he could buy a new property. Paid them back within a year.

SE market town in the last few years.

@RolyPolyBatFace OP, what does your daughter study? I would love mine to be in this position one day

27

27 with DH, admittedly with some help from parents, grandparents and little brother (who I’ve paid back double what he leant me) but most of the despot we saved for ourselves

22

29. But had been living at partners house for 2 years which he owned. We then brought a bigger house together.

25. It’s paid off now I’m 45.