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.

I quite hope that for him too.

She’s an awful woman who has not done a fucking thing for DH his entire life. Didn’t come to our wedding because she didn’t want to miss her tv show. Didn’t go to his sister’s wedding because she didn’t fancy the food they chose. Has sat back and watched us struggle with our profoundly disabled DC and not said a word of encouragement, never mind helped. So her dying will be the first positive thing she’s done in the 30 years I’ve known her.

38, because of a divorce through no fault of mine; the house was reasonably substantial, then I downsized. Not in London, up North. About to downsize again and retire late 50’s.

I hope you live a long and happy life and don't make your husband a widower - with people you know and have context it maybe ok to say these things about your MIL, but a random wishing a person dead soon out of context is a bit odd.

I'm 43 and will be mortgage free by 53 at the latest, although we are planning over payments so hopefully it'll be finished by 49.

I was 35. Can’t say it was an achievement - I had a very good divorce lawyer.

44 . My mum was killed in a car accident (my dad had already died at 54) so it was using inheritance. We only had about £30k left iirc.

We have a really profoundly disabled child and quite a difficult life. I sincerely do really hope he gets to upgrade to a younger and hotter model - he deserves something good in life!

46

44.We had a fairly small mortgage and our monthly council tax payments were actually more than our mortgage payments.

Ha. I was 45 when my life collapsed and I had to sell my lovely flat for the amount outstanding 😭 I preferred letting a young couple get an amazing bargain to handing it back to my lender. So I paid it off, but I don't think that's what you meant!

I've been mortgage free ever since. Renting, and sometimes homeless, but mortgage free 😕

This month! 45 but had to do some major risky moves to make it happen but happen it has! £675k house, zero mortgage. A massive relief as this time last year I had over a million in mortgages across two properties!

Managed at 55 by taking some 25% pension payments
such a relief

We took out our first mortgage when we were 23 in the 80s. It was a 25 year term and each time we moved we kept the same term. It was repaid when I was 48.

I was 44.

I was 38, paid it off in 6 years. Houses were cheaper then but we had a risky investment do very well. This totally changed the financial course of our lives for the better.

Snap. But only the one house. Was supposed to be 64 but paid some off with inheritance.

Haha. I pay interest only on my mortgage because I had to quit work to care for my disabled child the LA won’t give a school place to. So I will likely never pay it off if my child cannot live independently. No pension either. I try not to think about my future it’s scary

Two years ago when I was 35. Due to divorce settlement. Downsized and brought out right as wanted (needed) to not have the pressure of mortgage payments.

OP I understand the worry but equally you can only do what you can do. Try to over pay but also live your life. You’re doing well by even having a mortgage in these Financial Times! Be proud of what has taken you to where you are and try to let that help settle your worries as you’ve obviously made good financial decisions and will continue to do so.

Late 40’s, re mortgaging to extend house due to DC needs, no idea if we will ever pay it all off or sell and downsize when DC are no longer at home.

45

If I don’t overpay as I intend to, I’ll be 67. I first bought at 25 but the big spanner in the works was I divorced and bought out my ex, so paying him off is basically what’s left on the mortgage. That said, it’s got tons of equity, is massive and is the only home my children have ever known, and still only represents about 25% of my income. So all good pretty much I think.

45 for our first house. But then we have upsized to get a much bigger house (and more importantly garden) with a new mortgage which will be paid off probably when I retire (which will be aged 57-62 somewhere).

A while away yet, solo home owner aged 38. I overpay by 50% per month and going to try and stick a few more £ at it mid month (this is from recent cancelled subscriptions! So I won’t miss the cash). I occasionally put part of my bonus towards it too. I like the peace of mind that I’m doing what I can to reduce the amount and the term, knowing that it doesn’t always make complete financial sense, but I love the idea of having a small mortgage in 10 years time