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?

Forgot to say. I'll be 47 and my DH 64

I will be 62, DH will be 70. We had hoped to be able to overpay, but if interest rates stay as they are when our fix ends we won't be able to.
Of course we hope things will get easier with time.

But it all depends on how expensive your house is/how big your mortgage is/how much you earn. If you earn lots or buy somewhere more modest or have lots of equity it's going to come sooner than if you don't.

All paid off earlier this year at 56, we’ve increased pension contributions.

I was 51 and DH was 54.

We knocked about 4 years off the full 25 year term of the mortgage by slightly overpaying over the years, so it took us 21 years to pay off the mortgage.

The house is now worth 6 times what we paid for it. We'd not be able to afford it nowadays!

I was 28. But I did then get another one. Should be 42 when this one is gone . I have no way of knowing if I’ll get another, but I pay them off faster than scheduled with regular and large overpayments.

It was agreed on Wednesday. I'll be 74. They're going off DH's age - so when he's 65. It's only because I very sadly lost both my parents December last year, February this year (within 9 weeks of each other) we finally had enough for a deposit.

53 here. Overpaying isn’t really on the cards unfortunately.

53 here. Overpaying isn’t really on the cards unfortunately.

The last mortgage we took out was for just over £100k when we were 35. Finished paying when we were mid 40s.

Shortened term with a few chunks of cash - old endowment policy maturing, a mis-sold PPI claim, redundancy payout, 3 small inheritances (<£10k each). I'm sure there was something else, but my mind is drawing a blank! Also lots of over paying monthly and when I had work bonuses.

We have 2 mortgages. 2 years left on one and 7 years left on the other. We’ll be 49/50 when they’re both finished.

I was 48 and DH was 44.
We bought at a fortunate time.

We've got 7 years left on our term by which time I'll be 62.

We overpay by about £200 per month so should reduce by a few years.

However we've sadly come into an inheritance which will clear the mortgage.

Mind you, I've had a mortgage since I was 18 and had divorce, remortgage, working 2 jobs to pay mortgage on my own etc. so it'll be a very strange feeling indeed not to have that monthly sum to find.

I'd like to think I'll slow down work-wise, but I'm just coming into my own on the career front, so work is probably going to ramp up.

Currently 35. Mortgage is due to be paid off when I'm 39. A small flat.

We tried to move last year but it all fell through at the last minute. Given the state of the economy that was actually a blessing.

Projected to be when we are 50 but hopefully can chip away at that with small overpayments.

Remortgaging next year and our contractual payment is going up to £1.5k so unlikely to be able to pay much more.

Finished at 59.

My mortgage was paid off when I was 35 unfortunately after my separation I had to buy ex husband his share of the house and remortgaged in do so it won't pay off now until I am 65.

We paid ours off when I was 40 and DH 43.

I say ‘we’ but DH lived here long before me and had a pretty decent deposit when he bought it 16 years ago. He had lived at home (not being charged any rent) and spent as close to nothing as he could for years to save it.

When I moved in the two salaries and meant we could afford to overpay by quite a bit. We managed to pay it off just before we had DD which has meant we could afford to have a full year off and then go part time, though I will be increasing that next year.

It’s a very small house and not particularly suited to our needs now, we do keep talking about how we need to move but really wouldn’t want to give up being mortgage free now so not sure what the right thing to do is really.

I meant we could afford for me to take the full years may leave and then go part time, we definitely couldn’t afford for both of us to have done that even without a mortgage! (And DH would hate it anyway)

Think we'll be in our late 60's... Depressing, but I feel very lucky we managed to buy in our early 20's and have moved a couple of times and now have a beautiful house in a lovely area to bring our children up in. If they move out before we reach the end of our mortgage, then maybe we'll downsize and be mortgage free earlier... Who knows?! We are due some inheritance in the new year, which we could use to pay off a big chunk of it, but have decided we would rather pay a lump sum into the kids accounts, and use the rest for some house renovations and nice holidays that we wouldn't be able to afford otherwise.

We took out a 30 year mortgage when I was 29, DH 30. After 5 years we remortgaged but reduced the term to 20 years because the rate was so much better. So, if we don’t upsize, it’ll be gone by the time I’m 55, but planning to start overpaying once we’ve cleared some other unsecured debt to try and bring it forward a bit.

51 in next 4 years I'll be done 😀😀😀

Current cals are 65 however we have a longer term while having small children, plan is to try have it paid off by 50-55 once we can over pay more and don’t have nursery bills

We were by 37 thought plan to move to a place with land in the near future.

We'll both be 55, shortened the term by a year every time we moved (three times), we never had enough money to overpay but did once get a windfall of £1k which we put in it.

I'm just glad we'll have finished paying by the time we retire so we won't have to find rent.