What age did you buy your first home?

[LouB1990]

How long is your mortgage for?

I am 30 and I’m concerned I haven’t bought my first home yet.

Thanks

23 in a lowish house price area in 2014.

Worked multiple jobs at uni so came out with £20k in savings which I then put down on a £100k house with a 35 year mortgage. I earned £16k at the time!

My wage has tripled since then and we just moved in to our second house. I’m 28 now and my mortgage is 30 years

23 a cheap local house 55k did it up (used a loan as deposit) then travelled and put down a deposit on small new build at 27 after selling it. I rent it out now and we live in a country house with 3 acres with 110 k mortgage.
I grew up in a tough council estate with no expectations so I am very happy with it

31 and OH 39.
25 yr mortgage, 17 years left to go.
Only possible at the time due to a very kind loan for the deposit.

Would love to move to a 3 bed (currently in small 2 bed with 5 yr old and 6 month old).

Unlikely till next year.

23 in the SE with DH. moved again at 26 and again at 31.

31

37% of the UK population don't own their own home, nearly 40%

I guess they aren't well-represented on MN!

I've owned and fallen off the property ladder many times due to bad decisions (they seemed sensible at the time). So, once in my 20's, 30's and 40's.

20. Neither I nor then boyfriend, now DH went to uni though so I think that makes a difference and it was more than 20 years ago. It was a stretch but we decided it was the best thing to do. We were already living together in a rented flat.

25, 3-bed end of terrace with a garage and garden. We got a 25 year mortgage but should have paid it off within 14 years. We've also added an additional bedroom and bathroom with a loft conversion with dormer and about to get a third reception room extension. Value has increased a lot due to this and general increases in the market.

No hand outs, just hard graft (while my husband was on an apprentice wage no less!) going without and buying at the right time. Cannot wait until were mortgage free.

26 and 42

I intend to buy a 3rd next year 48

1st one 22
2nd one 29
3rd one 38

32 in 2003 and the mortgage was for 25 years. I only got on because I only needed a 5% deposit.

I was 19 and bought a flat with my now ex. But it was 1998 and it only cost £70,000!

Now I'm 40 and living with a different DP. I've owned properties ever since that first one and had to stretch the length of the mortgages a couple of times when the market boomed and I wanted a bigger property.

Now DP and I have a property we bought 6 years ago. I think we have about 20 years left on the mortgage still but are making regular overpayments to clear it quicker. At each remortgage I always try and chop the number of years down too now.

I'm 64 and bought my first house at the age of 32 in 1987. I had to move out of London and relocate in the North to be able to afford anything on my own (I was a teacher), interest rates were sky high at the time and it wasn't a general assumption that you would automatically be able to buy your own home. Contrary to popular opinion.

25 year mortgage but moved after 3 years, 5 years and 10 years. Didn't extend the duration of the mortgage back to 25 years until the 4th move and felt like a real step back but had a family so couldn't afford to go up the ladder unless we started again at 25 years.

First house at 21 with 100% mortgage and parents as guarantors. Sold 2 years later, made around £50k, bought a flat using the proceeds as deposit. Kept this flat for 12 years, eventually selling it for £17k less than I bought it for. In the meantime I released equity from it and bought a house with my husband when I was 33, we sold this for no profit 3 years later and have just bought what is hopefully our forever home. Still have a 25 year mortgage!! So with the exception of my first purchase, property has not been that kind to us!

23 years old with fiancé in 1995

House cost £54K in Norfolk. It was a three bed old cottage and I still remember it fondly.

19, two and a half years left on mortgage

Got our first (and probably only) mortgage at 25, on a 30 year term. It's an ex-council, 3bed end terrace, not 'fancy' but homely. We are already 5 years in, and aim to be mortgage free at 50 so at some point we need to find extra £'s to throw at our mortgage to knock 5 years off, but things are tight.

21 bought a flat in the southeast.
Sold a few years later and used profit for bigger deposit on a house in London.
Doubled money in 10 years. Sold again for big deposit on much bigger house zone 5 london. Now 36, 13 years left on mortgage as we didn't extend the term when we moved last time. We will try and pay it off early, maybe in ten years. We overpay a lot each month.
Had two children late 20s.

First one 1998 with ex aged 22, then moved out lived in shared houses and traveled. Second one with DH aged 28. Totally not suitable for kids so ended up moving out and renting it when house prices dropped in 2008 as couldn’t sell it. Sold it in 2010 and bought current house in 2011. Due to an inheritance from my parents we could now almost pay off the mortgage but are planning to pay off a chunk and use the rest on home improvements. So lucky I guess but would rather have my parents around.

Bil and sil both bought a flat in their early 20s and are now (early 40’s) mortgage free - they live in SE as well.

28. No mortgage as I had savings and an inheritance. Only a 2 bed terrace in East Anglia, but I love it. I feel secure for the first time in a long time!

26 with a 15 yr mortgage. We live in a small ex council house though so it was cheap. We bought this as a starter home but could probably stay here forever. I'd rather not as I'd love a 4 bed semi in a nicer area 😁 but it's either that or staying where we are and being able to afford holidays and newer cars....

21

Bought first at 28, second at 33 (two years ago)

We have a 30 year term but we overpay by 20% a month so that should bring the term down a few years, plus put us in a better position when we come off our fixed term deal