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.

We owe just over £600k (property worth over £900k)

I'm 42

House value around £650k
Ages 49 & 49
Mortgage was paid off over a decade ago and we remained mortgage free until 2022 when we borrowed £65k as part payment for an extension.
We have enough in cash savings to pay the mortgage off and then some, but we have two teens in private school plus uni to pay for after, so we felt that it was important to keep a large amount in liquid savings to make sure we could pay for every eventuality.
We also felt the writing was on the wall regarding interest rates rising, so locked in a low long fixed rate. We're currently making more interest on our savings than our mortgage interest is costing us!
We're comfortable mid/high earners, so our mortgage is less that 1 x the lowest earners annual salary.

28 & 30
156k left on mortgage
Approx 62% LTV

Our mortgage is likely to increase in the future however, I'm currently a SAHM and we will be looking to buy somewhere bigger within the next couple of years once I'm back in work.

265k
40 and 43
25 years to go
Ltv 45%
Still need to move to our forever home - so could still end up with a bigger mortgage

263k

40 & 43

£143k

we are 37 and 40

£340k
House worth about £650k
I’m 40.

£600k, late 40s, LTV 60%, had much lower mortgage but moved to a much bigger house
holiday home is mortgage free though

My mortgage was cleared when I was 45. It could have been cleared by 35 but we had an interest only mortgage and at the time rates were an all time low. So we invested the money we'd have paid it off with instead. This yield at the time covered the mortgage and more so made the best sense.

@Minfilia no, not interest only, it is a repayment mortgage. I bought the first house with my then-partner, and when we split up he bought me out. However, house prices had shot up in that time, so the house I bought on my own was three times what the first one cost (despite downsizing from 2 beds to 1 bed) hence needing to borrow a LOT more.

@stopthejetwashingmadness I just replied to another poster but forgot to tag you. If you scroll up to the post I have just made, I’ve explained my sorry tale of woe.

£22k I'm 60.

But this is my second mortgage. I owned my last house outright at 45. Then Ds' dad proved to be an abusive prat and we had to leave and buy us another home 12 years ago.

This one will be paid off in three years. Only 36 payments to go 🤗

£350k and 39.

But this is a meaningless question and doesn't tell you anything useful. I could owe £1m and be able to pay in bck in 5 years, or £100k and be paying it off for the next 25. I could owe £500k but on a £3m house and be in a better position than if I owed £150k on a £175k house. There there is interest rate, etc etc etc.

19,741.00 I'm 38 and fieance is 55.

£295k and 32 years left to pay. I’m 35, partner 37. Plan overpaying when we’re done paying so much in childcare.

The better 2 part question (if you want an X and Y) is:
Age vs Equity

80k, 38 and 40

£260k
45

We've just taken out £75k for school fees and should be able to repay in full from pension in 10 years time

230k, 44 and 46

£62k and 44/46. A chunk of that is for a recent extension. Planning on making overpayments and should have it nutted out, or as good as, before the eldest goes to uni.

€50k - 48

£550k

Aged 53

£360k aged 49

Zero at 30. But everyone's circumstances are different so it's such a open question.

Approx £350k, both mid-thirties.