If you’re in your 40s, how big is your mortgage?

[MultipleMum5]

I’m nearing 40 and mine is the largest it’s ever been. Thinking of remortgaging in a few years to get the rest of the house done.

How big is yours? And is it harder to get the loan once you’re a bit, ahem, older?

39 (almost 40!), around 50k left to pay which is approximately 12% LTV.

This thread has made me think maybe I should've borrowed more to get a pricier property.

We moved when DH was 49 and the new bit of the mortgage was for 20 years. But we knew we’d pay it down more quickly as we had old endowments we were waiting to mature.

There was no problem getting it, we could have had a much bigger mortgage. But as we’re late 40s we’re now more focused on reducing rather than increasing debt.

I paid off my mortgage at 47 ..... had a mortgage for 22 years

I’m 45 and we have about £43k left to pay.

In Ireland. 40 years old and have 208 000 euro left to pay.

£180k which is about 50% LTV. 23 years left on paper but overpaying £100/month which will take a few years off. Realistically we've probably got another move left (late 30s).
Should get pay significant promotion in a few years so that'll be a decision point on whether to take on more debt, go part time/travel/buy a boat etc.

Mid 40s, paid the mortgage off 2 years ago.

At the start of my 40s, we still had €180k outstanding. But kept paying back the full amount even when interest rates dropped so we benefitted from extra coming off the capital instead. So we paid it off in full during the year I was 46.

More than anything mentioned so far but there are far too many variables to come up with an average

78k left to pay. Could be done by 50.

But it needs major work, over £100k’s worth realistically, so will probably remortgage at some stage soon.

Bought my house post divorce in 2018 so nearly 4 years into a 25 year mortgage with 88k outstanding, which is equivalent to about a third of the value of the property.

Was very fortunate that both XH and I had bought properties in the mid 90s just post-recession which then shot up in value so we had a lot of equity in the marital home.

I'll be 67 when it's paid off. Was hoping to remortgage over a shorter term when the 5 year deal I'm on is up, but have just left work to become self-enployed due to family commitments so that won't be happening quite so soon.

42, £265k left to pay on a SE/commuter belt house. Plan to do what previous poster did and eventually downsize and retire to the Midlands.

I'm 41, DH is 43 and we're 7 years into a 30 year term, have about £94k left to pay. Looking to move house again next year to get an extra bedroom, driveway etc and will be applying for a mortgage of £130k max (will have a big deposit to put down).

300 - we upsized a few years ago, would otherwise be mortgage free, but so glad we had when isolating hit! It's scary but we are overpaying. Not in the SE either!

42, in the north west, I have 30k left on a 250k house, bought 7 years ago. I max overpay every year and will have it cleared by the end of the mortgage term next year. DP wants to move to a bigger house but I don't, and the way prices have risen in the NW he wont find what he's looking for at the price he's willing to pay. I'm looking forward to having no mortgage and the freedom to explore more interesting freelance work than be a career slave. I've suggested he buy a rental property with his spare cash so if we split up he has somewhere to go, and his money is invested.

41 and 46 and mortgage is 116,000

Just to add that the house is worth 300,000

40 & DH 38. Mortgage approx 85k house now worth over 200k due to being a prime holiday cottage in Snowdonia. We also have a 7k loan for ashp being paid off by the renewable heat incentive and a 10k loan sat waiting in our bank account for a new bathroom that we have had multiple dates for since July .

We deliberately bought a very small (75m2/800sqft), cheaper property so that we can be mortgage free ASAP. Having seen a couple of friends go mortgage free in their 40s I can see how liberating it will be.

Ours is 50% LTV and should be paid off in 15 years unless life gets in the way, so in my mid-50s. It's a normal house rather than a stereotypical mumsnet house - we were advised we could borrow twice the amount we did. Thank goodness we didn't as out income more than halved a couple of months after that.

Currently zero but next property purchase may make it somewhere between 3-400k.

Ours is about 45% of the current value of the house, I'm late 40s and it still has 21 years to go. We've moved a lot and maxed ourselves out each time on both borrowing and term.

Plan is though to downsize in about 10 years and move areas, and by that time I'll be able to access tax free cash from my pension also which factors into plans.

DH is quite a bit younger than me and I do all the finances...I dont think he even has any idea how much the mortgage is or how long it's for!

Late 40s, just moved, £175000 with 17 years left

Mortgage left to pay is 12k. Paid off in 4 years time. I do have enough savings to pay it off but would rather have a years salary in the bank…. Just in case.

Took on a mortgage at 52 after being mortgage free for a few years. £250k odd, about to add £40k to pay for last bit of renovation. 10 year mortgage. Hoping to retire early and will sell my old house which is currently let out in order to that (120k).

Occasionally think we did something stupid, but we gained a great house in great location. We have spent more than we’ll get back on making it right for us. But If circumstances change we can sell. We might want to downsize, or move area…