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.

Can't afford a mortgage. Both work ft. 43 and 48.

34, £256k left, 15 years on the mortgage term.

300K, am 46. House worth just over £700K so think we’re doing ok

Owe 53k, 40.....

£0 it was paid off when i was 47

20k
58 yrs old, widowed

zero and 52 but I sleep on sofa bed in lounge was that or a grand a month and I want to be able to help them with uni and deposits and things so I sacrificed my bedroom (the cat likes it!)__

Zero.

Some of these answers are terrifying.

Why? Unless you have the context of the house value, the amount owed is meaningless. I’m 48 with £460k outstanding but the house is worth £1.1 million. I’d much rather be in my position than own a £200k house outright.

51 and 320k to go 😢

Currently 142k, just going up to 289k if approved

46

£306k
LTV is 40% ish (as in I own about 60%)
I’m 45

About £198k I think?
we’re 44 and 48.
combined income £94k ish.

We've got just under 90k left to pay, I'm 40, he's 52.

Although I get what you're saying, the point is when it's paid off you can save that money.

So if we continue at the same rate and pay off at age 43ish, that's 4 years of not paying by 48 which (hilariously!) Is approx. 48k. Yes we'll own a cheaper house (current value 260k) house, but we'll be able to do more with our money. We don't live in a cheap area, just have a small house. Or maybe we'll have moved and we'll have a massive mortgage, who knows!

I would guess it's something around £470K (which is about 50% LTV ish) and I am early 40s. This is our forever home and our mortgage now is the same as current rent on the house we were renting before we moved here, so seems like a very good deal overall.

£260k. Both DH and I are 46. House worth about £470k. We've released some equity in recent years for home improvements and school fees otherwise it would be around £140k. Hoping to pay it off age 57 with pension lump sum

I save a lot of money anyway, mainly via my pension as it’s far more tax efficient. Some
of that can be used to pay towards my mortgage in the future.

However, I was responding to the poster who said some of the answers are terrifying. Context is everything as I could buy three houses for £200k each or one cheap house and invest the rest if I sold my house whereas someone with one £200k house has far less options. Personally, I find the option of not having any flexibility to downsize to be far more scary then having a large mortgage.

Age 55 and single.
Cleared my mortgage almost 4 years ago.
It was only ever a small mortgage, on an ex-council house, in a not great area, but it's mine, and because it's 3 bedrooms, I can (and will, in the next couple of years) downsize.

51. Paid it off but have college costs now so always goes off something else!

33. 0 mortgage. Not what we want as our forever home though! House is worth about 280k.

My mortgage: £160k
DH mortgage: £300k

Hoping to sell both and combine in the next few years but doubt it will decrease as we are moving further in to London and still want a house. Should have c£350k of equity between us though. I’m 36.

I'm 45 and owe £190k (house is worth around the £325k mark) had to buy a new house when I divorced. In theory I still have 24 years left to pay, but trying to over pay the mortgage where I can. Two children and one income this isn't easy.

38, 450k 😞

£266,000 on a house worth £1.65m. Would love to downsize (im59) but waiting till kids have all left home; currently on 1.24% interest for a while yet ...