How old were you when you had your mortgage paid off?

[scotchbonnetface]

My mortgage is a psychological burden on me. It’s not huge but I’d like to have it paid off sooner rather than later. I have it in my head that it needs to be paid off right now.

Im early 40s and hoping to have it paid off by the time I’m about 58. If I’m not a pile of dust from the menopause by then!

I didn’t buy until I was mid 30s and took it over a 35 year term. Gulp.

We paid ours off when I was around 45. This was due to inheritance. Without this, we would have had 5 further years of payments

I will be 53 when it’s paid off - just over a year to go

I was 53 or 54. What a great feeling it was, too.

I was 65. No inheritance. No clever investments. I was single. One bedroom house. I was VERY proud.

And when my state pension kicked in that was good too.

No inheritance coming to us but I think with overpaying here and there, my goal of 58 is doable. I’d life doesn’t throw a curve ball on me.

Late 30’s. House bought in 2006 for £550k. Needed another £200k of work (1732 property last “renovation” in the 1960’s). No idea what it’s worth now and no plans to move.

Oh reason - not inheritance. Overpaying the mortgage and then share options when where I was working got bought out.

I bought on my own aged 39 (now 40, only owned a year) on a 20 year term so would pay off just before 60. I can’t afford to over pay at the moment but hope I will be in a position to do so at some point so I can bring the term down, even if just by a bit; it would be great to be mortgage free by 55. But to be honest the mortgage doesn’t hang over me and I don’t feel like I ‘need’ to get it paid off, I was paying a higher monthly amount in rent for years before I got the house so housing costs are an expected monthly payment for me.

Bought at 21, paid off age 38.

37

Bought our first house when I was 45. I had a large deposit from many years of saving and I paid my small share of the mortgage off when I was 50. My DP is younger than me. We are hoping we can get his half paid in the next ten years as we make overpayments every month and go without holidays etc to focus on clearing it. We live a very simple life nothing fancy no new cars cheap meals etc.

Took a 25 year mortgage at age 25, paid off age 48, now 54.

Bought house when 33 and paid off mortgage 11 years later aged 44. But we waited and saved before buying the house, so we only had a 75% mortgage. Also bought at the right time in a market trough, so house prices and wages rose pretty quickly after we bought meaning we could over-pay virtually from day 1.

Well this is depressing. Had various mortgages over the last twenty years but divorce has meant I'm 49 still with a 25 year term. No chance of paying it off early or overpaying. Every time I remortgage I add on some thousands to consolidate debt or pay for maintenance that needs doing. There's equity still so when my kids are grown I will sell and downsize, or hopefully then move in with long term dp. All these people that have paid it off by 50 is a bit depressing.

Paid off at 41

We bought our first house in 2005 with 25yr mortgage, so was due to pay it off in 2030 at age 47 (got on the property ladder early in the days of self cert mortgages and at the right time in a buyers market)

we’ve been on track and counting down the days, every time there was something on the news about interest rates I would panic…then we were lucky to get a chunk of inheritance last year and it all went on paying off the rest of the mortgage- I am so so fortunate to be 42 and mortgage free!! It is blissful!!

i feel like I’ll never be mortgage free!

I’m mortgage free since I was 43 - did a house up down south, took the equity out and bought up north outright.
its meant being 6 hours from friends and family and starting anew but the pressure of mortgage payments and being stuck in a job, house, area that I didn’t love was killing me,

it’s only been 2 years and I bought a total renovation project, so that’s stressful but I’m still so relieved and less stressed not to have a mortgage.

My priority is pension over mortgage. I've worked out how I'll have enough to retire first. Also decided to downsize so I can pay it off 5 years early. Will be 63 when it's paid, but will be working part time from 58 in my current plan. Took the mortgage out at 35 and am now 45.

47. Such a nice feeling to not have that any more.

44 I think due to a sudden unexpected windfall.

Even though we don’t have a very big house I am grateful every day.

58 I thought that was good but not by the standards on here.

46

Me too. If things had run smoothly my 25 year mortgage would have been paid off at 50. But relationship ups and downs led to extended mortgages and then to me taking out a 16 year one at 54 to keep a roof over mine and dd's heads. I really regret not overpaying when I was younger.

52