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

[Molly333]

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 ?

We bought our house which cost £200k so we paid our £10k deposit, got a £40000 help to buy equity loan, and a £150000 mortgage from Nationwide.

It's all relative though - for reference we earn £40k together.

We have anot 35% of LTV left. We are late 40s.

34 here. One mortgage paid off. The other has roughly 100k on it

I'm 43, DH 51. We have 3 years left on the mortgage and owe 25k

None paid off a couple of months ago

Agree that paying off your mortgage and playing safe in a small house often isn't the best way to go financially. My friends who will be best off financially in years to come, have moved up and up the ladder and will be selling million pound+ properties at retirement and living very nicely off the proceeds.

Agree with blue25.

Anyone in their forties has another 20 years of earning. The forties are also the best earning years, when most people are now established in their career, the children older. It is a good time to gear up on the mortgage into the forever house. They have 20 years to pay off (earlier with overpayments) and lovely equity at the end of it to downsize on retirement.

Interest only mortgage, 14 years left. £280,000 owing but house now worth £650k.

blueshoes i have no intention of downsizing my house for the equity. We bought young, paid it off as soon as we could and fully intend to remain in the house. All the years of our 40's and 50's we can relax with no pressure to keep up on a huge mortgage, safe in the knowledge of either one of us suffers from deteriorating health issues we still have our home and can afford not to work. We bought a modest 3 bed, we really haven't needed to go any bigger/showier.

meadows, that is a valid choice. There is no reward without risk.

Younger than 45 and currently £260k and we are about to take it to £450k. Like some of the others we feel that now is the time to take on more debt. The mortgage will still be less than 50% of the value of the house and less than 2x our salary and it might never be paid off. There's already enough equity to buy us a nice enough house outright but while we've still 20 years to work we would like a really gorgeous house and feel that it's a much better use of money than having it sitting in the bank and in the long term we will be much better off than playing safe and clearing the mortgage.

www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11407620/Whats-best-repaying-your-mortgage-vs-borrowing-even-more...-to-invest.html

This article is two years old but still found it interesting.

About £500k

We earn about £300k basic between us- ish. This year was a bumper share/bonus year but feel a bit guilty that we didnt pay off any mortgage (did get some work done on the house though)

We need to remortgage and are going all out for a 10 year repayment.

£330k, 16 years left, without any over payment. This is how we are funding school fees, but the two most important things are that the mortgage per month is only 25% of out take home pay and the house is worth £600K+. Both 39.

I agree with some above. We paid first mortgage off when I was about 33 or 34 and I decided I would be working for 30 y ears at high income so we stretched to the very hilt even using children's savings and all ours to buy a more expensive house. Had loan over £1.3m in 40s (not fun £90k interest a year at 6%). Now paid off.

almost mid 40s, £124k, just over 1x joint salary. Currently overpaying every month. But we have offset mortgage with a relatively high amount saved which brings down our interest. Those savings and others come to just about the mortgage amount so in theory could pay it off, next year. However like the point another poster made about liquidity, I prefer to have a largish amount of savings, just in case. Also a chunk is in stocks and shares which is delivering much larger returns than current interest rates.

44, been renting for years and only bought this year. £504000

I'm 25 DP 32 and we have 25 years and 130,000 left. Our house was £308,000.
If you're interested.

Dh is 49, I'm 38. 11.5 yrs left of the mortgage, approx 27k.

Hoping to move in next 2yrs, will probably try to port the mortgage and pay any difference from savings.

Mortgage payments are very small but only I work and don't earn a very high salary. The house has probably doubled in value, which isn't bad for the ne.

I'm 45 and we owe £150k on a £850k house - due to crazy London prices and inheritance rather than frugal living and massive overpayments.

None. House is worth about a million. It's an expensive area. We bought it as cash buyer at the bottom of the market in 2009 so felt we got a good deal.

I'm 42 and we paid ours off at 40. We're in London and our flat is worth 800k, we overpaid massively to clear it quickly. We have enough income to move up the ladder and get a bigger place but we'd rather have the security and put spare money into other investments.

Proptery is our pension fund. 5 years ago we took capital out of my DH's old flat that we rent out (100k) and bought our second BTL. It now has 300k of capital and is valued at 500k. It will be paid off in 20 years, that risk doubled our pension pot.

Hmm, can see the advantages of moving up the housing ladder, but you also never know when your circumstances could change.

I bought a small terrace with an £89k mortgage, 11 years ago. I was extremely tempted to move up to a semi detached house with a garden after a couple of years, and could have done so easily at that point. But since then, I've been made redundant twice and really struggled to find work. I've kept my house, but only just, and at the expense of food at times. If I'd taken on a bigger mortgage I'd've been absolutely stuffed.

I now owe £56k and have 14 years to go I have friends who have had to sell over the last few years and start renting again, to avoid repossession - they all took on much bigger mortgages. But then I also have friends who started where I did and are now in £350k houses (a lot for round here!).

We paid ours off in late thirties do live in a cheaper part of the country. Where DH grew up our house would be almost a million.