What age will you be when your mortgage is repaid?

[savethegorgeousbees]

Basically just this.

Mine is due to be finished when I am. 61 currently 49 so 12 years to go.

I read a lot on here that people have theirs done and dusted by the time they see 50 and makes me feel slightly depressed.

I wish I could make overpayments but sadly am not in a financial position to do so. So out of interest how old will you be?

I was 23yo when I paid my first mortgage off but then got itchy feet and bought a bigger house. Will pay my current mortgage off in Sept at 46yo.

If we had stayed in our very first house which was a 2 bedroom back in the 90's I could have said late 20's early 30's, if it was for our second home a 3 bedroom (2000's) probably late 30's but as we moved up to a bigger home again, 48 although we could have paid it off slightly earlier if we had wanted to.

I was a month or two shy of 50.

We’re taking a mortgage now, I’ll be 65 and DH 69. But we won’t keep that mortgage or live in this house until then, we’ll sell up after kids and travel the world!

I was 32. May need to take a new mortgage in future though if I ever need to upsize, but as a single parent that's unlikely.

Exactly. It all depends on circumstances. My first house purchase was 35 years ago with exH, so 2 incomes, borrowed about 3x joint salary. Bought in a (relatively) inexpensive location so a fairly cheap property and LTV was fairly low. If we'd stayed together we'd probably have been mortgage free in our mid-40's.

In contrast, once divorced bought current flat (London) when house prices were going mad so LTV was much higher & I borrowed 5x my salary. I've paid it all on my own. Will be mortgage free at 67 if I don't overpay.

But I'm also keen to move somewhere greener and quieter and may have to borrow more to get what I want, so it could take even longer.

I just don't compare myself to others, it's not helpful.

I’ll be 55 - have 20 years left on ours. But will almost certainly remortgage and extend the term when we upsize. Not planning to retire until mid 60s and making healthy pension contributions so don’t see any issue with having a mortgage while I’m still working.

59 with no overpayments - but in the next couple of years we are aiming to start making overpayments if possible.

We paid ours off 10 years ago just before I turned 35 by overpaying every single month- obsessively! The house needed major work which we did ourselves for the most part and it took years.
we have just applied for another mortgage as dc and their partner can’t get approved to rent a property for uni and grad job and we don’t earn enough to be guarantors!
so we are buying a 1 bed flat and will pay it off as I retire.
Obviously I intend to overpay this one but we will be significantly subsidising them so that they can actually buy a property one day.
The other DC lives at home rent free and is saving to emigrate to Canada so things are equal as they can be.

I have £2.79 left on the mortgage, will be taking DD on Tuesday (Her 4th Birthday) to the bank to press the button on the card machine to make the final payment over, doubt she will realise what is happening BUT I grew up in a financially unstable house which has played massively on my relationship with money and I promised I would never sit their putting all my money woes on her as my dad did. I am 41.

I don't have a mortgage and have never had one so think how depressed it makes me

75.....
Thanks to cheating husband leaving me to start life over again aged 40!

65 but we own more than one homeand have enough equity in them to own one home outright now if we chose.

We also plan to downsize when the kids are older and have left home too so I suspect we will be younger than 65.

I was 42

Moving from Surrey to Somerset wiped out the mortgage nicely and we were able to buy a bigger house outright

10 years, possibly less as we overpay. So will be 52.

Exactly !

I am 30 and will be 75 if we don't overpay 😂😂 we will .

However we don't intend to stay in this expensive area longer term and will reduce costs by moving

Some point soon when agent millionaire visits me

Dead probably at this rate

59 which is 24 years from now although we have a very small mortgage so we could pay it off over the next 3 years if we really wanted to.

We're maxing out pensions instead of overpaying mortgage as the tax relief beats mortgage interest rate. Then can pay off mortgage with tax free lump sum when we are 55 in 10 years time. This video explains it

I think I'll be 60.

55 right now but will start overpaying more once I have no nursery fees.

I should of have been 55 but paid off at 44 due to my DH dying

47,DP will be 50. In fairness, we made a killing on the first house we bought together so when buying bigger our mortgage was for very little.

I was mortgage free by 30. Then I got divorced at 40. So 70, but to be honest, my LTV is 15% now so in reality, I'll probably downsize way before then.