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Original poster

Are you in ur forties and don't mind telling how much mortgage u have ?

119 replies

Molly333 · 16/11/2016 19:23

Hi sorry if I seem nosey but I'm worried about upping my mortgage ( need room) but worried I'm not realistic . The mortgage amount is 145000 , what's yrs ?

OP posts:
Matchingbluesocks · 16/11/2016 20:40

My mortgage is to be paid off at 65 so the payments are split until then. That's standard isn't it, unless you've gone to the trouble of over paying.

So it would be expected that people in their 40s would have 15-20 years left surely? Whether they pay £200 a month or £2000 repayment

CamdenTownie · 16/11/2016 20:45

Just turning 40 years old, owe £155000.

BobGoblin23 · 16/11/2016 20:45

37 and 36 - 23 yrs left and 85% of value outstanding.

LynetteScavo · 16/11/2016 20:54

At 21 DH had a mortgage of 30K....at 45 a mortgage of £150....but earns much more and the house is much larger....it's all relative.

TroysMammy · 16/11/2016 21:01

Nearly 49 and paying it off end of December. Small mortgage and been in the same house for duration of mortgage and will be staying here probably forever.

BarbaraofSeville · 17/11/2016 11:42

Early 40s and owe about £50k, which is less than household income with 10 years left.

However, interest rate is about 0.6% per year so I'm not rushing to pay it off as we can get more than that in savings - currently don't have much in savings as we've just paid for an extension mostly in cash but took out a small personal loan too.

Once the loan is paid off we can increase the savings and will put these towards the mortgage if we can't beat the mortgage interest rate with savings, once we have saved a cushion of a few £k.

But it's all relative. A £200k mortgage is massive if you earn what we do, ie about £60k pa, but if you're on £250k pa, not so much.

BitOutOfPractice · 17/11/2016 11:45

As of 1 Nov when we paid a big chunk off, I have £48k left with 11 years to go and I'm 49. House worth c£420k

sailawaywithme · 17/11/2016 14:29

Late thirties - around £335k. 28 years left, we made a conscious decision that paying off quickly was not our priority.

RebelandaStunner · 17/11/2016 22:04

Late 40's
Owe £90kish but own several properties outright and overpaying will clear it in a couple of years. Lot's of equity and plenty of income coming in. Plus savings would pay a big chunk of it off if needed.

EBearhug · 17/11/2016 22:07

I'm 44. Never been able to afford to buy.

AnneElliott · 17/11/2016 23:00

Am 38 with £243k left to pay and it will be paid off in 12 years.

WeAllHaveWings · 17/11/2016 23:05
  1. Will be paid off July 2017 !
Marmitelover55 · 17/11/2016 23:25

Just paid mortgage off. House worth about £700k now but was only £156k when we bought it 17 years ago. We have extended it and added a loft conversion but have mainly benefitted from rising property prices.

W8woman · 17/11/2016 23:35

Seven figures.

It will never be paid off - it's a form of leveraging. I'll buy something with the equity when I retire and downsize.

Notreallyhappy · 18/11/2016 07:07

We're 49 & 54. £6k will be gone by march.
We've thrown all spare cash at it so only have about the same in savings.

GreenHen · 18/11/2016 09:08

Paid off mortgage when I was 41 (due to buying house at 24, not moving (extended instead), and earnings increasing significantly during this time). We could've paid it off before that but it made no financial sense - well it didn't at 41 either but we decided it was a milestone we wanted to meet.

We've been a couple of years mortgage free now but I'm really questioning whether we did the right thing or not. Bit academic really because DH has stated on multiple occasions that he won't move. Just put some figures into the HSBC mortgage calculator and we could theoretically borrow an amount which is double the value of our current home - so buy a house worth 3x what we have. I think the sensible choice would be some where between.

If you can afford the repayments then I would go ahead and enjoy the extra room.

elDiabloEnMisZapatos · 18/11/2016 09:12

45, nothing left to pay really, eking it out for some reason at about £1 a month. It's a strange feeling!

trixymalixy · 18/11/2016 09:16

Currently owe £140k. About to up it to £300k!!

0hCrepe · 18/11/2016 12:08
  1. Will have mortgage till 65 at the moment as borrowed more for loft conversion. Will hopefully shorten the term in the future.
lljkk · 18/11/2016 12:15

Mine is long ago paid off. The ££££££ gap to something like my dream house is still impossible & always will be. I hate any news about house price rises.

My dad's was at least 3x the size of OP's when he was about 50.

maggiethemagpie · 18/11/2016 19:22

We have about 100k left. I'm about to turn 40, DH is 43.

dementedma · 18/11/2016 19:27
  1. Owe 48K and can't afford to up the payments to reduce the term. Will be paying it off well I to our 60s, if we still have jobs. No savings.
Oblomov16 · 18/11/2016 19:33

Mid 40's, only a few years left.

Squeegle · 18/11/2016 19:36

I'm 51, £200k, eek

stillnotjustamummy · 18/11/2016 19:38

It's relative. There's 520k remaining on ours, we will be 67 when we pay it off if we only paid the minimum. We overpay as much as we can and are likely to be left an inheritance down the line which we would sink into it. It is terrifying. But it is the only way to have the house we like, in an area we like, and we are aware of the risk.