What age did you pay your mortgage off?

[Reese123]

Out of interest what age did you pay off your mortgage or what age will you be when you anticipate paying it off?

On paper 62 but been overpaying slightly so currently aiming at 60. Plan is to overpay more over next few years with ultimate aim of 55. Or may downsize if kids ever leave home and would be paid off then.

Yes its much harder now than it was - I bought my first flat in London for £40k, just looked up current value on the market for £400k , it's been 24 years but still. Remember thinking at time should have just bought 2 and not bothered working.

35 - last week (still buzzing). No we didn't have an inheritance but we did buy at 27 and overpaid like crazy. The plan is to buy somewhere with a bigger garden in a few years though, so aiming to save hard and hopefully not need to take on a new mortgage or if we do just a tiny one.

First house 24 when we moved and bought this house 25 year mortgage so 49 but we overpay so hopefully earlier unless we add to it to do home improvements

46, sadly as part of divorce settlement but at least I now don’t have to worry about rent or new mortgage payment:

35

Probably 65...

50. It felt like a huge freedom to not have mortgage payments any more.

Probably next year at 51 on this house - we’re in the South East so could easily be mortgage free elsewhere. We also have a half share in another house which doesn’t have a mortgage either.

55 for us. I didn’t move out my
Parents home till I was 30 😂

So glad given the current economic situation.

Will be 50. Can’t wait to be mortgage free!

Payed up at 42 Took out 25year endowment . Each year used any savings to reduce actual mortgage as a result reduced monthly repayments(interest only) Ended up payed up mortgage after 15 years.

Paid ours off at 52

I'll be around 176 I reckon

50 - 14 years ago.

Got a 25 year one at 21 + 28 when got married. Moved 5 times, remortgaged twice and changed to 15 years. It had 7 years to go when we sold up and moved abroad.

Some of it was at 16% APR 17.5%, but beer was 25p/pint and petrol 85p/gal. I'm old!

Hopefully by the time I'm 50. Making overpayments when I can.

I also have a 15 year mortgage.

Am hoping I can pay it off before then.

45. All by myself 😁

Just took on a huge mortgage at the ripe old age of 42 - so on paper 67 when we’re mortgage free. Overpaying a bit every month at the moment so hope to bring it down a few years. Or just downsize when the kids fly the nest!

I worked out if we stay where we are we could pay our mortgage off in 5 years at the most (probably less) when I’d be 32 but I want a big house so we will move or extend and it’ll be closer to 60 :(

I'm mid 40s and we could pay it off now but it suits us to have a small mortgage and some cash. If we'd planned better we probably could have paid it off around 40. But we are planning to move if we can find somewhere we like and will probably borrow around 500k to do it so we will be back on the mortgage bandwagon.

I’m a millennial, I paid my first mortgage off at 27.

Then I got another one, so I don’t think I qualify as mortgage free.

We could have paid it off at 50 but decided to move house instead and took out a new 10 yr mortgage for an additional £175K. Paid it off at 60 but I’m glad we did that rather than staying in the house we were in at 50.

53ish hopefully, although covid may have scuppered that.

Up to 8 years left (aim to pay off more has been scuppered by paying professionals to fight for SEN child's education), so we'd be 53 and 60. Both hoping to retire at 60, using lump sums to support kids through uni or similar.