If you’ve paid off your mortgage, how much is your house worth?

[Georgeinacan]

I often hear people saying they’ve paid off their mortgage on here. I wonder how! Ours is valued at 640 and we owed 300 ish. Obviously if it was worth 350 we would almost be mortgage free. Are people paying their mortgage off early generally in lower valued homes?

I bought my £500k house with inheritance money. So not kind of the same and I know I was lucky. Skint otherwise though!

We always overpaid, and overpaid A LOT when living abroad (those were fun times). House is maybe worth £800k-1m (more if the market picks up). We never stretched ourselves so could always overpay.
As with most of these "how???" MN queries, the answer is always "some people just earn more money".

We got very close to paying it off (house worth 1.5m) but then decided to move and now (stupidly) have a mortgage again of over a million pounds. Much more expensive than the first one on a monthly basis because interest rates are higher.

My parents are divorced and were both mortgage free quite early (50ish) they both downsized and paid off their mortgage
Example-Mum was living in a large 4 bed detached and when only the youngest was left she downsized to a 3 bed semi in a nice area and paid off her mortgage with the £60000 she saved in downsizing. Just another angle. I will probably do this also as I have 4 children and a large 5 bed home not really a suitable layout as I get older so I will downsize and be mortgage free when they move out 😁

Bought 14yrs ago for £175k
Overpaid mortgage each month, especially last 5 years as had secured a low interest rate during covid
Mortgage free as of November last year.
House currently worth approx £300k
We're both 40

Bought our first house in the early 2010s and paid it off within 10 years, but then moved and borrowed again. The original house was 110k and we had a 10% deposit.

Flat bought for £295,000 in 2000. Paid off mortgage in 2015. Flat now worth around £1.2 million. We saved one third of our take home pay to get rid of the mortgage early, which was depressing and uncomfortable.

I'm 45. First house I paid off, bought for £300k, mortgage £150k (had made money from previous houses). Second house, bought for £1 million, mortgage £125k.

No inheritance or any family help, just two salaries for most of that time (had a few years when DH retrained and earnt pennies, and I had mat leaves) and fairly frugal living. Neither of us would be considered to earn well by Mumsnet terms but we don't have flashy cars/handbags etc, although we have had some nice holidays.

God I wish I had overpaid , had a mortgage for 23 years really annoyed with myself that I haven’t , got 11 years left yet and I’m 51 . Suppose I could / should start paying some off now .

It also depends on when you bought and whether one or both of you came with a property. We are mid 40’s. Owe £150k house is worth approx £1M.

Not just earn more, although that obviously helps, but for many it's what they choose to spend on.

House paid off by an inheritance. Much rather have my parents here though.

Would do the same looking back, or would you have stayed?

Bought for 360k 2 years ago. No mortgage , paid with cash inheritance. In our late 20s. I understand we are very lucky!

editing to say lucky to be mortgage free, not lose a loved one!

We’ve paid off our mortgage and house is worth £850K, however we brought in 1994 and the house was worth £152K then.

£499k in coastal Pembrokeshire, I’m awaiting exchange/completion at the moment. I’ve been mortgage free since December. I bought it for £295k in 2004 with a £200k mortgage.

Do you not need to ask how old people are? If you have a 25 year mortgage from age 30 it will be paid off by the time you’re 55 regardless of amount?

Mortgage paid off in 2003 - combination of DH's career taking off and my father dying.

We bought our first house in 1994 for £95k. Over the years we've traded up and at times increased our mortgage. We did a big move in 2025 which entailed us extending our mortgage to £200k.

We finally paid our mortgage off last year. I think our current house is worth about £830k.

I despair of house prices. Our DC are in rented flats and I can't see them getting on the property ladder any time soon.

Recently paid off, age 50. Worth 500+K, bought ~18years ago for 250K (170K mortage). No inheritance/help with deposit etc...feels good to be gone!

I bought in the midst of financial crisis so it was indeed very cheap. Sub 100k. Needed a lot of work which I did in bits over the 10 year period. Mortgage rates were also very low. I sold it last year and about to buy a house. I am borrowing about 130k and planning to clear most of it within 5 years. I will have a lodger to help with that.
I am a single professional on a pretty average salary. Not even close to six figures. But being mortgage-free is priceless to me so I am prepared to make sacrifices.

We bought our house in 1999 for £165k. No inheritance/help from parents. SE London. Mortgage paid off about 3 or 4 years ago when we were early 50s. Current value £770k.

Edited to add, we obviously couldn't afford to buy our house now 😅

There’s so many variables to take into account. We’re 16 years into a 25 year mortgage but hoping to pay it off prior to that. One of my friends and her DH recently paid off the mortgage because her mum died, her and her sister sold their mum’s house plus (I assume) there were some other assets and now she’s mortgage free.

Bought 2009 for 460k with 375k mortgage on a 0.25% above base rate tracker mortgage. Paid interest only and ploughed every spare penny into investments to pay off the mortgage on basis that they earned higher interest than the mortgage rate. Paid off last year. House worth 900k-1m, not sure exactly. We are locked into our location for at least the next 6 years due to schools and everywhere round us that is similar size is the same price or higher. Also thinking that kids realistically may not move out till they are mid/late 20s. The value of our house will not be something we can liquidate for a very long time but we are very very fortunate to have this asset.

Not MF yet but aim to be in the next 12m. Our house will be worth approx £450k and I'll be 45.

We will only be MF because we got our first £60k mortgage when I was 21 and we moved very slowly up the ladder over the last 24yrs, perhaps too cautious that we didn't overextend ourselves, following the housing crash and DHs redundancy which screwed us financially years.