To ask how long left on mortgage?

[Wallawallabangbang]

Just that really. How old are you and how long do you have left on your mortgage?

39 and 0. Sold this year and in process of buying nearly 100 miles away to be mortgage free. Would have had 10 years left on the term but had 9 years left due to small overpayments.

I bought at 24 when all my friends were travelling and partying but I'd already had my daughter at university, so that life was not for me. Also rent and mortgage were the same amount so no reason not to get a mortgage.

Not having to worry now means my monthly budget is low and in the future I can live a decent life on a part time wage.

43, mortgage will be paid off in 7 and a half years.

It's not bragging to have paid off or to make over payments. Everyone is different, some cannot see the value in doing so and some can. Also some make overpayments from disposable income and some scrimp and save to do so. Some do not at all. All viewpoints are valid.

For the last ten years my mortgage though low has been 50% of my income. It lucky I'm frugal as many would just have sold etc.

43 - just borrowed more and remortgaged, 17 years left.

42. Mortgage will be paid off when 50.

It's not bragging to have paid off or to make over payments. Everyone is different, some cannot see the value in doing so and some can. Also some make overpayments from disposable income and some scrimp and save to do so. Some do not at all. All viewpoints are valid.

This is true but it's disingenuous to say you went without holidays, meals out etc (as many of us do with no choice in the matter) to pay off in 6 years when actually your rather healthy income had quite a lot to do with it.

41 and 21 years.

39 and 27 years left (yes I know), but we have about 50% equity in a detached house in the SE/ commuter belt. I'm not that worried as we could get a decent house in a more affordable region and either clear our mortgage or reduce to something very small.

54 and 2 years.

33 and 30.

We just moved into our first owned home this week.

37 and 13 years to go.

Been living abroad for 10 years and sending money back each month. That's the only way we could have afforded to get on the property ladder as well as everything else we have to pay for.

26 and 22 years left.

So what if someone chooses to forego holidays, nights out, new clothes etc in order to pay off their mortgage by their late thirties? That’s their choice.

On the other hand, there are constantly threads on here entitled “how can people afford to spend 10k on an annual holiday?” It is a perfectly valid choice to decide to leave mortgage payments at a minimum and spend all the ‘excess’ on holidays. For a time that’s exactly what DH and I did. There are very valid reasons why I’d want to go on holiday now rather than wait for some time in the future when family finances are different.

58 and 3 years.

I'm 34 and have 23 years left on the mortgage. I'll be 57 by the time it's paid off. It's our "forever house" and we've been here two years. I'm based in London.

SweetSummerchild

There's nothing wrong with that but the poster who said they did that made out it was all the sacrifice that meant they could pay off their mortgage in 4 years (I mistakingly said 6 in my last post). A 220k mortgage in 4 years means the poster paid more in their mortgage every year than most people's household income.

Good for them but I imagine bring home a significant salary has more to do with it than going without a holiday.

We were lucky and had our children young. Between 40 and 50 we overpaid overpaid overpaid, we sacrificed holidays and most treats and concentrated on paying down, we are now in the very fortunate position of being mortgage free on our family home and several rental properties. We were very single minded and focused at the time but it feels worth it now.

I'm 35 and the mortgage will be paid off in 12 years.

Do other people have a limit on how much can be overpaid? What does a 10% overpayment do to the length of the mortgage?

50 and another 15 years. Had to start again when ex left me 15 years ago.

52. Paid off about 3 years ago

Am I right in assuming you did not live ultra frugally to do so; no meals out, no day trips, no new clothes etc.

Correct for me. We earn fairly well (used to be better but I risked burnout so had to dial it down) and we are careful, but not to the extent that we don’t do fun things.

Clothes are worn until I can’t fix them any more - but that is more due to environmental concerns. Food is planned weekly and can be influenced by the Aldi super 6. Cinema twice a year, meals out three or four times a year, etc. Kids do a range of extra curricular stuff (paid).

It helps that we don’t own/run a car.

50 and finished this year , didn't overpay but should of done but never re mortgaged . It is a nice feeling if jobs and life go tits up we still have a home .
Mind you lucky that we brought when houses were cheap not the silly money they are now .
If we were buying now we wouldn't ever afford a house .

45 and paid it off last year