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.

I was 49 dh was 57. But we had bought a smaller house than we could have when we bought together (second marriage) our choice. If I had remained married I’d have paid off at 53

I was 47 and DH about to turn 50. But we overpaid for years to do that as it wasn’t due to happen until I was 54.

I'll be 65. But it's all relative really. We didn't buy together until we were in our late 30s. If we'd met and bought in our 20s then another story. Realistically though we'll aim to shorten the term and will likely have some inheritance to pay off a chunk.

We paid ours off before 50 but only because dh inherited some money.

I was mortgage free at 47. DH was 51.

I have two mortgaged properties and will be clearing both of those this summer at the age of 43.

I think you husband is wrong- I don’t know many people in a position to clear mortgages early. Most people I know have only been able to buy in their 30s and that coincides with very steep childcare and general living costs for so many.

Paid off at 55 but it was hard work, overpaying and then finally with a redundancy payment.

58. Although my DS will paying off his until he's in his 70s, unless he inherits from his parents first.

I didn't even start my first mortgage until I was 40, and it was a 27 year term, so it was never going to be paid off by 50. I overpay it every month so it will definitely be paid off before the end of the term, but not sure quite when - possibly when I am early 60s?

Didn’t overpay, last payment was Nov 2025 (yaay!!!). I was exactly 50 and 1 month. DH will be 50 in 20 ish days.

Paid it off at 40 then moved! We had some inheritance so will have paid the upsizing cost off too by age 45. Many friends the same age are also mortgage free.

We are in a part of the country that has low house prices, we bought aged 23 and we are both in professional jobs - not Mumsnet standard high earners but pretty decent for the area.

I paid mine off at 43. Fortunate that I had a house in London that had tripled in value, and we moved to a different part of the country and made a conscious decision to opt for a smaller house so we are 100% mortgage free

Mortgage will be paid off this year when we’re 50 however we think we may move and will borrow approx £250k. Can’t decide if we’re mad or not. It seems to make sense to move now and service the debt when we’re earning so we can downsize when we’re older.

If we don’t overpay, 65. If we end up inheriting without our parents paying care home fees, we’d be looking at nearer 50.

First mortgage would have been paid off by 2024, aged 49. But then we moved and upped the mortgage and extended it by 5 years, so 54. Then divorced, I started again by myself at 38 and should my soul to my lender for a mortgage of 30 years to take me to 68. I've always overpaid so this was reduced by 5 years, then another 2 to 61. Then my mum died and I paid off a huge chunk, was then planning to continue to overpayment and get it done by my 50th. Another small inheritance means I'm calling up on Monday to make the last few payments as a lump sum, I'll be 49 1/2.

My younger colleagues have huge mortgages and seem to be resigned that they will be paying well into their 60s

Technically 63, but I am aiming for 55 at the latest.

If nothing changes between now and then, I'll be 63. But that's a long way away so who knows what could happen between now and then 🤷‍♀️

There will be a generational split though for many. Younger generations have got on the ladder later with less favourable conditions so will be paying them off longer.

75! I think I might be an outlier though, we remortgaged in order to move house.

I think it depends on age
I was 24 when I bought my first property, moved twice, mortgage paid off at 48
Those getting on the ladder 30s and with a 30/35 year term are unlikely to have paid it off by 50.
Your DH sounds like one of those irritating know it alls who are ignorant that times have changed and its very very tough for young people now.

67 - will downsize before that.

I was 55 (this year) due to inheritance.

Paid mine off a week before my 34th birthday, which was three years ago now.

It’s the best feeling.

We were 40 and 42, but we bought in 1997, and our mortgage was only £36500 on a £50000 house. We were lucky to be able to buy a little 3 bed and didn’t then need to move when we had children.

Our kids are in the process of buying houses now and they are having to take 40 year mortgages to buy the same very modest type of property.

I’ll be 50, DH 60. We could possibly pay it off earlier but looking to replace the ensuite and kitchen first