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.

How in the world?!

£154,000
30

Long run, I reckon you’ll be the biggest equity winner! Gotta spend big to win big! (We keep telling ourselves this anyway 😬🤪).

960k across two properties. Equity 500k. No inheritance, no savings as we used them to buy property, no holidays this year, oh well….BUT our dream house in London. 45 & 52. Earn around 200k between us.

I’d love to be mortgage free, but only in our forever home. So now we are in the pay-it-down phase.

55% LTV

£135k, on a property worth £375k

I am 34, and alone on this mortgage.

about 17 years left on it, so with no over payment it will be clear at 52. I do not foresee leaving this property- for various reasons in old age parts of it may need to be rented out, and I’ll need to pay someone to maintain it, but the house itself is suitable for older people.

Property 1 (family home) £15k LTV 3%
Property 2 MF
Property 3 £50k LTV 25%
Property 4 £50k LTV 45%
Age 48 Single income widow

37, £260k! However, we live in our dream forever home which is worth around £600k apparently (according to the internet) so I comfort myself by the fact that if we really got into difficulties we could sell it and have a good chunk of money to downsize. Also hope to start seriously overpaying once our youngest gets the 30 free hours childcare. I am very jealous of so many people the same age who have nearly paid theirs off!

87K Both 38. It’s interesting to see the different stages, and to realise that it’s probably mostly media hype that most borrowers are in trouble. Lots of very reasonable sensible figures stated.

£180k + £33k extra borrowing for home improvements.

We are early-mid thirties.

@Blindedbythelighters paid off in our thirties but it was 20 years ago so much cheaper housing but we had made some investments which paid out around 40k. It really changed our lives. We had jobs that at their best pay level hit 85k combined income just before I retired which was not too long ago.

Someone else on the thread said they do not know anyone who has paid off their mortgage. You do not tell people. Now we are hitting mid fifties I do have three lots of friends who all admit to paying off their mortgages. The reason it’s been talked about now is we have all taken early retirement in our fifties.

£76k age 33 and one income. Could pay it off within next 5 years.

If things go as planned however, I'll likely end up moving and borrowing more so would probably be £200-300k with two 35 year olds paying it off.

Borrowed £220k, have £185k left. I'm 35.

98k we are 27&32

55K
61

£2,100.

44, single.

It was £75k this time last year, but I got a chunk of inheritance from a Grandparent which spured me on to throw my life savings at it, and having a penny pinching 12 months into overpaying the rest.

150k
We are 31 and 32

Amount of mortgage is nothing to do with whether people are struggling to repay. Some families with a £150k mortgage will have interest rates go from 2.5%ish to 7%ish. If things are already tight that's a lot of extra money for some to find each month.

About 250k, I'm 36. Currently on 1.9% fix.

I haven't been able to overpay much because we pay more than a grand a month to have 2 kids in childcare for 3 days a week, even with the 30 free hours for my eldest.

Eldest starts school the month our mortgage fix ends, so any savings we make on childcare fees will probably be swallowed up by new mortgage. The younger one should get some free hours then under the Tory scheme but who knows if Labour get in (not that I want more Tory government).

Feeling the pinch a bit tbh.

£145k
Mid 40s
House is currently worth 300k

£420k on a house and £210k on a flat

33 and DH is 35

We owe £120k and I'm 39

Zero. Paid off in our 40s. Average earners, house in London. But bought in the ‘90s when things were a lot cheaper.

I’m hoping to be able to pay it off in the next few years but I’ve always been a dreamer!

1. 28. Inheritance.

Just for fun I decided to plot all the info so far into a graph. The monumentally unsurprising conclusion is that the trend is for balances to get lower as we get older. Who knew?