How old will you be when your mortgage is paid off ?

[LovelyYellowLabrador]

Aiming for before 55

Was paid off 7 years ago at 46. Saving for retirement now seem like an even bigger mountain to climb.

38 for the first one and now will be early sixties sadly.

view it as paying rent to the bank

Bought at 25. Overpaid when we could even if it was £10. Paid off age 48, should have been 50

If we carry on with the current term I'll be 51, but I expect we'll clear it sooner - we have almost as much cash in savings as the outstanding balance of the mortgage. Keeping it in savings for now in case of unexpected expenses (DH is setting up a new business), but at some point we'll probably pay most or all of the mortgage off. We're also likely to get a significant inheritance in the next few years.

If we can continue overpayments, 41. If not I’ll be 48.

We were unexpectedly given a 4 bed house as inheritance, so we sold our own smaller property at 36 and moved into the inherited house. Paid off mortgage balance and now have the remainder in savings. We are very very lucky and grateful to have been gifted a beautiful home that will be perfect for us for a very long time. If we had kept the original mortgage we would have been mortgage free at 55. We know how lucky we are to be in the situation we are now in. Just a shame we cannot thank our relative in person for what they did for us.

Current mortgage term due to end when I am 46 and DH is 48, however based on current overpayments it’s looking like it’ll be 40 and 42. Our current fixed term is ending in 3 years time though, and if rates have sky rocketed at that point we will pay the whole thing off in cash - we got a really cheap fix 2 years ago, and can make way more from that money than we would’ve saved by clearing it based on the low interest rate.

48

49 hopefully

Paying it off next year at 57, 18k left

I will be 44, in 3 years. We took out the mortgage when I was 24, and have recently been in a position to overpay. It hasn't always been this way though, in the first couple of years of us buying our house, beans on toast and pasta bake was our staple diet. Feel very lucky to almost own our own home.

46 years old if I overpay otherwise itll be 55 years old if I don't.

Should have been 50. But due to a spectacular return on a high risk investment some years ago we were mid thirties.

We were 53 (me) and 56 (DH). We are 55 and 58 now.

Me 53, dh 48.

Neither of us inherited anything nor had substantial gifts from parents or close family. It was almost all repaid out of earned income.

Should be 55, aiming for 50.

At the current rate, we will be 46 - so in around 5 years time. We are toying with upgrading to a larger house. If we did that, it would probably end up being closer to 60. Being stuck with a mortgage until then is really putting us off though.

I was 47 but bought our first home when I was 19

We would’ve been mid-50’s but the historically low interest rates tempted us and we’re locked in at an extremely low rate for a few more years. We can deduct mortgage interest from our taxes in the US so it’s not worth paying it off quickly.

it's been paid off three times and we've upgraded our home option. presently this (hopefully) last home loan will be paid off next month 65. btw lots of other cash equity but it was recommended to mortgage vs disinvestment.

We’ve only had the mortgage two years, so long way to go, but I’m hoping to pay it off before I’m 60. I’m 33 now.

67

actually relieved to see others in same age bracket - thought it was just me 😕

Was mid thirties. Huge relief.

If our financial situation remains the same and interest rates don’t change too much the mortgage on our flat will be paid off when I’m 46, so 12 more years.

49 all being well. Bought house at age 29, very small mortgage as I'm single on a low wage so can only afford small monthly repayments.