What age will you have finished

[Lastchristmasibakedyouatart]

Paying off your mortgage?

Inspired by another thread.
We have what I *Think is a fairly small amount left on the mortgage-around £120 k, but working it out, I think we’ll be around age 69 by the time we’ve finished paying it off, I’m only basing this on how much we’ve paid off so far in the amount of years..69 feels disappointing.
We’re both 45 (Dh and I)

How old will you be when you’ve finished paying the mortgage off and how much do you have left?

We were 32 when we paid off our first mortgage (£60k), moved to a bigger house when we were 37 and paid off that mortgage (£90k) when we were 44. Now 47, we are looking to move again, but downsize to free up some money. Not looking forward to the prospect of moving - this was meant to be our forever home, but circumstances mean we don't want to stay where we are.

Meant to say, took seven years each time, with overpaying as much as we were allowed/could afford.

We have 96K left over 10 years so will be mid forties. We have stopped paying nursery bills now though so hoping to overpay and get rid by 40.

We was 48 and 53 when finished paying ours off!

53… if things stay the same… my hubby is 23 yrs older than me though.. so he will be 66… we hate where we live and want to move asap… but don’t think it’s possible in this climate. (We do know how lucky we are to have this option of owning a house right now though)

65…10 years to go….but we plan on hopefully 7 years max, then we’re running away to Cyprus

Mine was paid off when I was 36 Dh 42, we sold our flat in London and moved to Scotland.

410k left and we will have finished by the time we’re 65 to late 60s. Hopefully we will over pay when able (which will be never!)

76, it would have been much sooner but divorcing my ex 14 years ago was expensive (I earned more than him). Aside from other things, I had to buy him out of the house.

I have over 13 years and 69k left, that includes a loan I took out with the mortgage. In the new year I'm overpaying on the loan. I'm 51 and on my own.

@TomTraubertsBlues

I said in the next couple of years. It'll be just over 2 years, and it'll come from a combination of those payments (£39k a year in total, so £78k over 2 years), DH bonuses (these go straight into the mortgage), and a hefty chunk of our savings at the end.
Actually you said 'in just over a year' hence the confusion. In any case, £3k a month for 2 years is £72k not £78k. Your maths is very random

i'll be 62 when my mortgage is paid off🙄
In 10 years time.😯

I shall be 80 and am 75 now

What term did you take your mortgage over? 25 /30/35 years? Technically you will be finished then unless you borrow more or move your mortgage elsewhere

We were 30 when we took our mortgage out and were fortunate to have low interest rates which helped us overpay. We only borrowed £37500 as we did a self build. Hence paying it off in just over 20 years.

You and me. There are lots of us around. You wouldn’t think so listening those who complain that all retired people are sitting mortgage free in million pound houses!

Ours was paid off in our early 40s

I’ve only just managed to get on the property ladder for the first time with my partner. I’ll be 69 and he’ll be late 70’s by the time we pay ours off! Pretty scary. What with the higher house prices and interest rates we wont be able to afford overpayments either. We certainly wont be retiring early 😞 I’m so envious of people that invested early. Spent too many years with a useless loser!

1 year left. I'll be 62. We should gave overpaid before but DP wasn't keen and we were generally broke

If you're going to quote me, at least be accurate! I said "in the next year or so".

I will be 65 DH 66 and I am 54. Currently in year 6 of a 10 year fix and can’t overpay without penalties but will start paying chunks once that ends. Have saved funds from an endowment to use (although we do need to do some work on the house but am reluctant to use that or borrow more).

And if you read my other posts you'll see that I was rounding down when I said £3k. We're paying precisely £3,250 per mth. Which is £78k over 2 yrs.

I don't know. I bought a flat alone just over 4 years ago, aged 30 over a 35 year term. Fixed rate expires next year and with increasing interest and cost of living, I might have to remortgage over another 35 years. I know I'm fortunate to be on the ladder as a solo parent but it is a stretch. I used to make overpayments when there was overtime available but that has all dried up recently. Still, grateful to have a home.

I’ll pay mine off next year when I’m 46 due to inheritance. However I’m not living in my forever home and it may be possible that once I go full time again I’ll upgrade the house and need another mortgage to do so. My parents paid theirs off when they retired using their lump sums. So around the age of 60. This is what I thought was the norm. But I have lots of friends who plan to retire in their 50s. I plan to retrain in a new career. Came see me affording to retire early. I could take out my pension at 55 but having lost a few years out of that career then going back into it part time for quite a number of years I won’t have a decent pit saved up. It seems different people have different expectations around these things so it is hard to compare. I’m a single parent. Without the inheritance my mortgage would be getting paid off probably when I’m 60 sticking to the current payments.

I'm 48 now, have £41k left to pay. Overpaying by 25% while I've still got my low fixed rate. I've been doing this for about 3 years and it has reduced my mortgage term down by about 3 years so instead of having 14 years left I now have 11 years left. So if I can continue to overpay I should have it paid off in less than 10 years.
As long as its paid off by the time you retire then all good