To ask

[mrsspoonn]

How old will you be when you pay off your mortgage?

I was mortgage free at 29. It was back in the day when you could buy a fixer upper in London and make a fortune quickly. That gave me enough cash to buy a modest house outside London, and it went from there.

We'll probably move again in a few years and take on more so 60+. At present we could be mortgage free in our 50s.

Paid mine of before I was 50. Around 7 yes ago. We were lucky.

65 but I’m overpaying and hoping for 60

75 which isn't realistic obviously, if it isn't paid off by inheritance we will downsize

55 if I run it to full term but I’ve got it on fixed rate for 5 years and looking to over pay as much as possible so ideally somewhere between 50 and 55.

3 years ago when I was 37. We were lucky enough to have made a lot (100%) equity on our previous home in SE over the 14 years we owned it. Sold up during pandemic and bought a bigger, nicer house in my hometown for half the price.

45+14, so 59

34 and will be forever mortgage free, trapped in private rental sector and won't be able to leave anything to my children when I'm no longer here.

55! I want to start overpaying to essentially reduce this to a few years shorter!

@Slimemonster 34 and will be forever mortgage free, trapped in private rental sector and won't be able to leave anything to my children when I'm no longer here.

You could take out a life insurance policy and make your children the beneficiaries when you pass?

Great idea, thankyou. I didn't even realise it was an option x

I’m 44 now and if we cleared our savings out, we could clear it now but we have 3 years left on our deal, which is good (1.19%), so our savings are in a high interest account. We will just continue to pay, so 47. My hubby will be 46.

At the last time of changing our mortgage we reduced our term from 16 years to 6 and made the call to pay as much as we thought we could afford per month to get rid of it as quickly as possible. I consider us very lucky for getting our last mortgage rate when we did.

51, all being well

Took it out at 27, had it paid off by 35. I'm now 47. Mind you, my house cost 40k.

Mortgage paid off this year. I'm 34 and my DH 37.

We have two, I’ll be 46 for one and 50 for the other. I’m 44 so not long now.

66

I was 50.
Now 57.