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.

£16,000
40

A) Zero.
B) 45.

Think they’re all arse holes

35, £66k of a £900k house

Seems a bit of a bragging thread really… I’m guessing people who have cleared their mortgages are more likely to share!

You need to ask what people have saved for retirement. I have a big mortgage but also have a reasonably big pension pot.

370k at 36. LTV 50%

£250K and 12 years left. 44 and 45.
about 40% LTV

We owe £30k and are early 50s. But this is shared ownership and we'll only own less than half a house and will have to pay rent forever unless we can afford to buy more shares, which we can't.

43 and £500k 😬

Just paid it off, 45 years old

Yep. I could overpay my mortgage and pay it off years earlier but it makes more sense to me to hammer money into my pension and get the tax benefit. Then use my tax free lump sum to repay mortgage age 57.

It's also the location though. London property is a great investment. For example our house is in London and has gone up in value by £70k in four years. Some years similar houses have even jumped up £40k in one year.

So even if you are paying loads into your mortgage, long term you'll be way richer with a bigger house in a prime location. The actual amount on your mortgage doesn't mean much really in terms of overall wealth. Still, it's an interesting thread. I wish people would post the rough value of their homes too.

About £145k left. I'm 45. House worth maybe 4 times that. Would love to pay it off in 10 years but we have a lot of other expenses so are struggling to save.

£263k, 37, I own alone.
Only bought 3 years ago as it took me that long to get enough deposit / a big enough salary to buy. Am in London so this is a one-bed flat 🤦‍♀️

43
£75k

0.05% of remaining mortgage. Pension is a bit light though as I’m a low earner. Maybe I should get back to work RN…

0.05 pc of the value that should say. Mid 40s, older DP though.

£163k
38 and on my own.

£494,000 (split roughly 50/50 between mortgage and govt interest free loan in the Help to Buy scheme), 85% LTV
30.

£178k, 37, single.

38 owe zero. It was about £90k 2yrs ago but sadly inheritance has put us in this situation. So grateful to have paid it off but sad circumstances.

We had already paid off over half the mortgage at that point mainly because we had saved up a big deposit when we moved to this house. Our previous home we made little money on as was bought right before the crash. We managed to pay off the lawyers/estate agent fees though with the small amount we made on it.

£240k, early 40s.

But that information is meaningless unless you know how much that sum is relative to (i) the property value and (ii) my income and future earnings expectations.

£447K
53 and 60

We're planning to downsize when we retire (which won't happen for at least 10 years!)