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'm due to be 58 but we do overpay the mortgage so hoping to bring that down. We're overpaying now, while we can as currently on a very low fixed rate but that's due to finish in a couple of years and I'm worried what interest rates will be available then. So essentially viewing the overpayment as money we can divert if our standard mortgage payments have to increase.

I agree the private pension access age is going to stay significantly lower than the state pension age. Has to be that way to incentivise paying in, as you say.

However, as the state pension age is clearly going to keep increasing, there's also room for the minimum private pension age to go up but still function as an incentive. For me, I'll supposedly be able to get a state pension at 68. Believe that when I see it, but let's assume it's accurate for our purposes. The age at which I could access a private pension could be raised to 60 and it would still be a big incentive to make contributions. Eight years is a long time.

None of which is to say the pension lump sum method won't work for some people, though. Many millennials and Gen Z will be paying mortgages well into their 60s, if not longer, so the timings might be fine.

64 if no overpayments.

65

Mid sixties at the earliest if we stay we are. But we plan to downsize drastically and move from the rip off south east before then.

I paid mine off just before I turned 40. I was in a high salary role and had a mortgage interest rate of below 1% for the entire term. I paid the whole lot off in less than 10 years. It would have taken a lot longer at rates nearer 5% and with the higher prices that are prevalent now.

In theory 60, (43 now) but it's quite a small mortgage and we've only got 40k left so might be able to pay it off sooner.

I will be 31 when I pay it off (2 years time). My house was 120k and I first got my mortgage when I was 24.