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

[LovelyYellowLabrador]

Aiming for before 55

If we had bought when we first tried would have been 43, but we couldn’t get enough by a small amount and it fell through.

so now it will be 60 if we don’t increase it before then.

Possibly as young as 32/33 (next year!). We've been overpaying since we got the mortgage 7 years ago. Mainly wanted yo pay it off so I could be a SAHM for a few years and we wouldn't have to worry about money. It is a home we could stay in, 3 bed, but we may get a bigger home with another mortgage in the future.

Would have been around 60 if we hadn’t paid it off due to an inheritance. Before the inheritance, sometimes regretted moving to a bigger house (and extending mortgage), as we would have had so much more disposable income each month, as we would have paid it off several years sooner.

My current mortgage I would be 52 and DH 61, but we are buying a new house and it will now by 64 and 73 for us. Although I plan to overpay so that it doesn't take that long.

I was 46. 50 now.

Current mortgage 50 but I'll probably be like 60 when we buy a bigger place. I'm okay with that..

34. Slightly unusual circumstances though.

66 as left Husband and started again

First time I was 34. We then bought a larger house where we needed a mortgage for and I will be 53/54 when it's gone.

Similar situation here but 68. 😬 I might downsize though which would make it sooner.

62 (I'm 38 now) if we just kept paying the direct debit but we intend to start overpaying soon with with view to having it paid off early. We'll pay a little in the next year after my mat leave finishes and when our children are no longer at nursery we'll pay the same amount to the mortgage as we won't miss it. That should clear it down in around 12 years so we'd be 50. If we get additional bonuses etc with work we might manage to do it even earlier. It will be so freeing to know we have that security!

I paid it off this year at the age of 40, using DH’s life insurance. I would rather still have DH and have the mortgage for the next 18 years.

67. I had paid the mortgage off at 41, but then my husband and I divorced and I had to buy him out for more than the original cost of the house. I didn't want to move. Things happen in life unfortunately. I try to overpay to bring the term down. I can always move if I have to.

@Smallorangecat

Average age of FTB is now 32...

55 as just taken out a 25 year mortgage, but on huge 5 bed house so we will never need to upsize. We have enough equity we could sell and buy a smallish three bed with cash if anything happens.

Late buyers so should be 62. However it’s not a huge mortgage in to some on here and overpaying and aiming by 55. Ideally a bit before if we can throw extra money at it. Yes I know it’s financially not savvy but I want the security.

63

if we had stayed in our flat, we would be finished at around 53, but we needed to move for more space (2 children)

That’s so true, @HappyGoDucky . We’ve been in this house for several years now but have no intention of getting older in it (large terrace with too many stairs!) so plan to sell and downsize in ten years or less. Great with teenagers as we have plenty of space, but won’t suit a couple in later years.

46. We'll spend the next 10 years investing in it though, so new windows, wiring, flat rooves, etc. We'll recarpet and plaster each room as we go along.

66. Get my state pension at 67.

When we are 45 if things carry on as they are, but interest rates might change/we might move house in the next 10 years so who knows.

I'll be under 50 DH under 60.
We have discussed keeping it going as we have such a low staff rate. If we needed to do any big changes being able to add to a mortgage rather than take a new loan is far cheaper long term

45 if we keep the same term and house but we’ll probably move somewhere a little bigger (currently in a 2 bed) which might push it out a bit.

Paid all ours off when we downsized 3 years ago late 40's.