To ask how much your owe on your mortgage and your age?

[Pussywilloww]

Recently remortgaged and the massive rate rise got us thinking. Made me wonder - what is the average people owe? Yes it depends on area/value/when bought etc. But to make it simple I'd be interested in
A) how much owed
B) your age

I'll go first! We owe £115k and I'm 31.

Zero for me, mortgage at 26 and paid off at 40. I totally hit it lucky when I bought just before the Financial crash in early to mid 2000's. In those days the bank gave you fee free mortgages plus a couple of thousand 'cash back' which sounds crazy nowadays.

Then, the interest rates nosedived down to 0.5% and I just kept paying the higher amount to get it paid off ASAP. Missed out on fun things and holidays along the way but pleased it's paid off especially with the cost of living strangling our finances.

It's so much harder/near impossible for people to start out now though with crazy house prices and high interest rates, not a sustainable combination.

Zero

57

No inheritance, just overpaid every month.

£458k, LTV 56%, joint income, both early 40s.

£171k, 35 and 36. That's about 52% LTV.

18k left to pay 47

2 years in

25

About £520k

315k
41

Those who overpay, do you just pay as much as you can or have a plan or what? We overpay a bit which will bring it down from 27 years to around 23, but I can't help feeling like we should be doing more. I hate how long we have left especially reading this thread.

Mortgage is 221k
LTV 34%

Does anyone else feel torn between downsizing and having small/ no mortgage with a lesser property or sticking in a place with a big mortgage and a chunk of equity?

@DunePeyton constantly. We could go mortgage free if we wanted but I love our house.

250k <40% LTV, 42. At your age our mortgage balance was 85kish - we chose to upsize

My partner and I are both 40, have our first mortgage together (after more than a decade together) and owe £180,000 after a very very hefty deposit paid……but we’ll have this paid in 5 years if everything goes to plan.

there isn’t a right or wrong way to “do” life. We were constrained by several issues which stopped us buying any earlier but are in a stronger position that many we know who bought years before us.

I voted YANBU as I understand your interest but don’t let anyone else’s situation affect your own 😁

LTV .8%
£31K (loan)
66
was recommended against divesting or depleting savings
expect it paid off 3-5 yrs.

Nothing since 2017 and I was 53.

Prices are crazy. My friend lives in London and is house hunting, he sends me links and I'm
1 million near me gets you TWO houses next to each other
https://www.rightmove.co.uk/properties/134343881#/?channel=RES_BUY

@Justchatting06 can i ask what your monthly repayments will be to pay that off that quickly?

42, £100k. Did pay one mortgage off but sadly had to move to a more expensive area so here we fucking go again 🤪

29/30, £405k

Zero. 42

60k and I'm 46

I'm looking forward to the mortgage being less than my age

Zero on property 1
$100k on property 2
300k on property 3
I am 44, joint ownership with DH 43

150k 10 years to go. 52,55. House worth approx 850k.

36 and £119,000

Cleared mortgage 2 years ago. Aged 59 now.