What age will you be mortgage free?

[SkelatorIamNot]

DH thinks most people are mortgage free before they are 50. I think most people are paying off their mortgage into their 50s and actually a lot of people in their 60s.

So just a quick poll to see who is more realistic here.

Paid it off last year. I was 44 DH 45.

As long as I don’t move house again I will be mortgage free by 39

London here. Will be paid off by my mid 60s unless we overpay.

55 but I remortgaged at 40 for two BTL

We’ll be in our early 70s going by our current schedule, though realistically we’re likely to inherit from both sets of parents and so will be able to overpay a significant chunk and reduce the term.

so 50:50 so far

I'm divorced and remortgaged but working my socks off to try and be mortgage free, so I can support adult children in my 50s 🤞

If I had stayed married I would / should have been mortgage free late 40s

I moved to be mortgage free, did this aged 43

Ours is offset, was about 35 when it became fully offset but bought at 23.

I think it depends if people keep up sizing though. It seems most move to larger properties as their salary and family increase, we bought a 3 bed semi and are still there 25+ years later.

Obviously houses were cheaper too but I presume you're talking about people my age so that's the boat we were in.

Will have the money to pay off in 21 months, but will actually pay off in 3 years (when fixed rate ends). I'll be 55 and DH 56.

I have the date circled in my calender, I will be 57.

58 ish

40 but inherited money so I am very very lucky

DH is way off the mark IME (London, professional job). Overpaying to be mortgage free late 50s/60, have done it as a single not couple though

I know only 1 mortgage free by 50 couple in London, all graduates etc… inheritance might make a difference I suppose

If we leave everything as it is ill be 61. My aim is to do it by 55

Divorced - 68.

62, though I did split up with my ex in the middle of an extension so bought him out and had the extension to pay for.

62, though I did split up with my ex in the middle of an extension so bought him out and had the extension to pay for.

We were at 57.

We will be 62 if we don’t manage to overpay. If you need a reminder that Mumsnet is not representative of society for all things financial, head
over to the many ‘I’m struggling on £80k+ salary’ threads.

I don’t worry about it - I hope to move to a bigger house at some point, so we have enough space for growing kids, then will downsize when they leave (effectively ‘paying off my mortgage’

Technically 68 at the moment. However, we should be able to clear it when we can access pensions at 58. I‘m in no rush to overpay as on a 2% interest rate.

I was about 40. But we stayed in our first house, and have never felt the need to keep moving to "bigger and better". The money we have saved on a mortgage in the following 20 years has given us so much flexibility and freedom.

58 ish again , quite a slog through to make it all work but will be worth it and great to actually have a plan and be in touching distance

49 (although we could use savings to pay it off now)