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?

This thread is just depressing people and really without the values it's hard to compare.

I strongly suspect that it is not representative anyway. It is bound to attract either those that want to boast or those who have fairly recently taken on mortgages and are quite worried about them. On this thread most people my age (early 50s) have paid off their mortgage or nearly paid it off whereas in real life I don't know anyone who has. I also don't know anyone who cares.

From www.finder.com/uk/mortgage-statistics

The average Brit will pay off their mortgage by the time they are 69.

The average Brit will pay off their mortgage by the time they are 69

That's perhaps a prediction for the future though rather than what is happening now. Today's 69 year olds probably paid off their mortgage years ago. I don't think you could even get one that went beyond normal retirement age until recently.

34 with 12 years left but we’d hope to pay it off in the next 7/8. We made the decision a couple of years ago no to upsize and had never borrowed a huge about to start with.

My mum is 60 and won’t pay off her mortgage until she’s 70.

55 and 12 years. But I also own two properties outright in another country which are rented, and made the decision not to pay off the UK mortgage and just to let it run its course.

69 seemed very late to me - I wonder if it was the endowment scandal skewing figures or equity release schemes being counted.

Most people who I know have paid the mortgage off have done so usually by late 50s but they are older than us and got on ladder earlier.

Same link say most people are now 30 before getting on the ladder – so usually 25 year term and it’s about 50s but people move and divorce so I image it will get closer and closer to 60 and 65 in our age range.

At my age (34) my mum would have been able to say that she’d me mortgage free by 50. However a combination of divorce, illness and second marriage to a man who frittered every penny they had (and a second divorce) means that she’ll now be paying hers until she’s 70 so no chance of retiring until then.
Things change.

I got my first mortgage at 18, moved house a few times increased mortgage but increasing pay just paid it off sooner, so all paid off by 50

46 and 4-5 years. But DH is 57.

Recent inheritance will more than pay it off, if that is what we choose to do with it.

I don't think it is necessarily important though. My father still had an interest only mortgage at 70. His generous pension meant he could easily afford it and it was only a fairly small proportion of the value of the house. It will now be paid off on sale of the house following his death. Not a problem.

We've actually paid off the mortgage once before. 15+ years ago. But it was a small house. We've re-mortgaged to buy bigger houses twice since.

28 and 37 years left, but we only just moved in to what will hopefully be our 'forever home'. We're planning to up our payments after our wedding next year and after our initial fixed term we want to remortgage to be paid up by 50.

34 and 20 years.

We have 30 years left on a mortgage of 190k, but we'll be able to put about 120k into it in next 18 months after selling a couple of properties. We then need to decide whether to bring term way down and pay it off ASAP but keep monthly payments the same as they are now, or keep term long and have much lower monthly payment (so whether we need the cash flow now v later on). I'm going on maternity leave early next year so I think it'll be a case of seeing how we manage once maternity pay stops and deciding from then.

Oh, we are both 33.

44 and 22 years. We were down to 13 years, but just took out a new mortgage on a bigger house. Which we will not be leaving. Ever...

I'm 32.

Owned my house three years.

Technically I have 16 years left but it'll be paid on in the next two years.

No plans to move. If we did move it wouldn't be a few years so we wouldn't need another mortgage.

Looking forward to being mortgage-free.

40 and 25 years left. Feels like an eternity

31, with 21 years left on our mortgage but on track to have it paid off within 10 years through overpayments. Then we'll likely use the equity to get a bigger place and start the cycle all over again!

I am relieved that we can get shot of ours. When we took the mortgage in the 80s, we had an endowment. so when the writing appeared on the wall in the mid 90s for the largest of the policies, we converted to repayment over a shorter term than normal to make sure it was gone by the time dh was 60. We are a couple of years ahead of schedule, so not boasting, just finally getting ourselves sorted.

32 and have 28 years left.

I'm 32 and we have 15 years left. We are hoping to reduce this to 10 or less by downsizing ir overpaying.

I am 45 with 15 years. But, I married a man 8 years younger than me and we are downsizing our mortgage by moving to a cheaper area to a house which needs work.

35 with 14 years left at the moment but hoping to reduce this a little over the next few years so that it will be gone by the time DH is 45 ( I will be 41 by then).

56
Nil - paid off