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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

How much debt are you in?

337 replies

eyelinerpencil · 24/06/2026 02:00

Was chatting to a friend earlier who is in over 500k of debt, which she thought was ok but I think is astronomical.

OP posts:
Sparrowsandbudgies · 24/06/2026 10:00

Runningswanker · 24/06/2026 08:33

I'm amazed at the number of people paying off their mortgages so young. Very few of my peers bought houses before their mid thirties, so even if we all stayed in the first homes and overpaid it would be a long way before they're paid off!

Quite a lot of people get inheritance at a young age and it may not necessarily make them “rich”. My mum died when I was 38 (we didn’t have the best relationship, I was her only child and only relative) and we inherited enough to pay off our mortgage on our 3 bed semi detached in Norfolk. It’s worth about £370k which is a lot to some and not a lot to others! We could - in theory - have moved somewhere bigger, got a larger mortgage etc but we’re just not that interested in doing that. We are holiday people, that’s our biggest outgoing so for us paying off the house and staying put was a no brainer. I do appreciate that is an incredibly privileged position to be in compared to many.

Bjorkdidit · 24/06/2026 10:01

eyelinerpencil · 24/06/2026 06:57

I’m not shaming anyone! I literally just was still thinking about a conversation had at the pub. Why be so touchy?

I actually (if you read my comments before) am wondering if it’s the way to actually get ahead in things and I’ve missed a trick. It’s interesting to hear about the big mortgages and now people have nice properties (I’m a renter).

Edited

Well it's true that getting a big mortgage to buy a property that appreciates well has paid off for some people but it can be a high risk strategy.

Property values don't always increase and if you end up in negative equity, that could turn tens of thousands of pounds of deposit into a similar amount of debt - when we bought our first house, the people we bought it off had paid £8k more for it two years earlier and spent money doing it up. Now that might not sound like a lot of money, but that was more than my annual salary at the time.

Buying and selling can involve high costs - stamp duty and estate agents/solicitor's fees etc that are 'lost'. There's no help with paying a mortgage if you lose your job, so you need expensive insurance or savings to fall back on.

If you rent, it's a lot easier to move if you need to and you might qualify for help with housing costs depending on circumstances. Renting can be 'dead money' but how does that compare with mortgage interest?

I don't think it's beneficial to compare with other people especially when not accounting for any detail such as life stage, income, family size etc. Too many variables makes it meaningless, you just need to make the best of your own circumstances.

Alarae · 24/06/2026 10:09

Credit card is paid in full every month (although this month is horrendous due to booking a holiday)
Have £250 on PP Credit on 0%.

Mortgage is 270k (joint with DH) with equity of about the same. Technically at 220k as we took 50k out during remortgage for house refurbishment but haven’t don’t anything yet though. Currently toying with doing an extension now which will require more, so mortgage would actually go up!

Student loan is £4.5k, but should be paid off in the next year.

I’ve got savings which could pay off student loan/PP, but given I get a better interest rate on savings than that debt, I leave it alone.

I realise I am in a fortunate position though to effectively not have any debt other than my mortgage.

wishingonastar101 · 24/06/2026 10:10

£500k mortgage - going to go up soon as we are extending
£1,000 debt in my currant account

GreenCaterpillarOnALeaf · 24/06/2026 10:14

To be honest we wouldn’t be where we are now without my dad. He doesn’t really have any money to give us but when we got our house it was a fixer upper and he came and did all the fixing up for (basically) free. When he dies I will inherit less, but anything is split between six so I don’t think any of us will be rolling in it.

He needed my brother for a few jobs that he would have struggled with on his own because of his back. He also tells people how much I helped with the reservations and that he was very proud but in reality all I did was moan and make hundreds of cups of tea. Without him I definitely don’t think we would have been able to have gotten a house for a few more years and we would be in a lot more debt either from mortgage or having to pay for the renovations.

SummerDive · 24/06/2026 10:17

Zero here too.
And yes we’ve had some debts in the past - loan to buy a car for example. And ofc pur mortgage.
It was never as high because we bought our house 25 years ago, cheap area etc… nowadays, £500k sounds both a hell of a lot and not that crazy….

Runningswanker · 24/06/2026 10:23

Sparrowsandbudgies · 24/06/2026 10:00

Quite a lot of people get inheritance at a young age and it may not necessarily make them “rich”. My mum died when I was 38 (we didn’t have the best relationship, I was her only child and only relative) and we inherited enough to pay off our mortgage on our 3 bed semi detached in Norfolk. It’s worth about £370k which is a lot to some and not a lot to others! We could - in theory - have moved somewhere bigger, got a larger mortgage etc but we’re just not that interested in doing that. We are holiday people, that’s our biggest outgoing so for us paying off the house and staying put was a no brainer. I do appreciate that is an incredibly privileged position to be in compared to many.

Amongst my peers I can only think of two (that I'm aware of) who had any significant inheritance. Either there's none, because parents were renters, or it's it's gone on care home fees. Appreciate for most who have it it's still bittersweet.
My mum passed when I was in my twenties and all I got was a letter from the housing association telling us we had a week to clear her property before they started charging us!

KateBushAgain · 24/06/2026 10:24

You’re a renter ?
You’re in a much more precarious position than your friend with a 500k mortgage.
I hope to God you’re in social housing and not somewhere that can give you notice to leave .

BeOchreDog · 24/06/2026 10:24

My student loan for my undergrad is £65k and our mortgage is £300k. I’m 33 so quite a while left on the mortgage but it’s no different to a rental payment and we can start overpaying once we are free from nursery bills.

My student loan comes out before my salary so just see it as a tax, it’s likely I’ll pay it off at some point.

I’d expect it is pretty normal to have these debts.

oliviaAustin · 24/06/2026 10:26

About £67,000… that’s just my student loans. We have no other debt.

NearlyNewNonny · 24/06/2026 10:29

None, no mortgage, loans or credit card debt. We recently paid cash for a new car and have around £35,000 in our savings account. I think posts like this get the extremes and don't help anyone. I have a life limiting condition and choose to live for today and treat my DC (adults aged 19 to 31) regularly. I don't need to worry about the long term future but hopefully DH does.

Nemorth · 24/06/2026 10:33

Interestingly I have enough money that I could clear all my debts right now. Including my mortgage, but there’s an early repayment fee on my mortgage and all my other debt is on 0% and I’m earning more in interest on my savings.

Debt isn’t a failure it can be strategic.

BatsInHibernation · 24/06/2026 10:39

£300k mortgage and no other debt. Cars are owned. £6k emergency pot.

DustyMaiden · 24/06/2026 10:39

None. Throughout my life I’ve had loads sometimes too much. But time passes kids grow, mortgages get paid . Wages rise, you get promoted,

cinquanta · 24/06/2026 10:40

Zero. However, when we had a mortgage we could have paid it off years early. We didn’t because the money needed to do so was earning more in interest than the mortgage was costing.

Debt isn’t necessarily a bad thing.

EeewDavid · 24/06/2026 10:42

Well done all of the great money managers on this thread 😁

We have a mortgage - paying around £950 monthly and have approx 15 years left.

Then we have about 30k loan debt for our cars and £5k credit card debt. Never missed a payment. Donate to charities monthly.

Decent earners. North East UK. About 100k combined salary. Have a couple of hols a year, various mini breaks, 2 cars, child wants for nothing - lots of hobbies. And various pets. We earn well/spend well. Doesn’t always feel 100% comfortable but we’re fine :)

Also we live in a 4 bed house with big garden in a lovely coastal area. All in all - its good :)

We have about 8k in the pot.

Statsquestion1 · 24/06/2026 10:44

Having a mortgage paid off doesn’t make you rich though. the value of the house could be anything, 100k vs 1mil…big difference.!

Contrarymary30 · 24/06/2026 10:46

No debt , house paid off . Due to being poor as a youngster I'm super careful with money . I wouldn't sleep if I had debt other than a mortgage.

EvangelicalAboutButteredToast · 24/06/2026 10:47

Just over 100k on mortgage which we will clear next year. After that I think we’ll still have a good chunk of savings so it’s all fine.

500k of debt including mortgage is doable when you still have thirty odd years of working life left but very worrying if you are in your 50s.

MiddleAgedDread · 24/06/2026 10:47

Just under £31k left on the mortgage, no other debts.

OttersOnAPlane · 24/06/2026 10:52

For the first time in my adult life, zero.

Mortgage finally paid off, no overdraft or credit cards or loans. It's a great feeling!

TinDogTavern · 24/06/2026 10:54

About £12k unsecured - approx £8k of that 0%. Trying to draw down £4k from pension early to cover the interest bearing bit. No chance of reducing the rest, will rate tart it around as long as I can.

£40k mortgage, £160k equity. Single, late 50s. No kids, reduced hours because knackered. Decent pension.

Perfectly relaxed about it, bite me ‘careful’ mumsnetters….. 🤣

MintChocCat · 24/06/2026 10:54

I don’t include mortgage or student debt.

XenoBitch · 24/06/2026 10:55

None. But I have a student loan from the 90s, and I have no idea how much it is now. Are we counting student loans?

Well, none today. I will probably be dipping into my overdraft in a week.

MintChocCat · 24/06/2026 10:58

XenoBitch · 24/06/2026 10:55

None. But I have a student loan from the 90s, and I have no idea how much it is now. Are we counting student loans?

Well, none today. I will probably be dipping into my overdraft in a week.

I’m surprised that’s still going and hasn’t been written off by now!

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