Mortgage late 40s how much?

[wombleflump]

If you were a single parent but a high earner would you take out a mortgage if £250k in your late 40s or would you rather be mortgage free?

The mortgage, you can downsize when you are older and the more expensive house is likely to go up more in value than the mortgage free property.

I feel like this question is directed directly to me. I've been thinking about mortgages for a long time. Should I, at this age and with this salary, take it out? Later, I looked at the mortgage comparison site on www.moneyexpert.com/mortgages/ and found the most relevant option for me. I just really want to leave something behind for my children.

I would say there are many 40-50 year olds who have way more than £250k left on their mortgages, OP.

You won't be out of the ordinary in more expensive areas.

Just also consider the increased maintenance prices of a house that cost £250k more than you expected to depend.

Council tax, energy bills. All are on the up considerably so do factor those in.

Id they are comfortable for you, then go for it. You can always get a mortgage that allows overpayment and decrease the term.

I'm also I high-earning single mum in my late 40s.
I've about 300k left on my mortgage.
I took it out at 42 with a 26 year term, but I'm overpaying and want to pay it off by the time I'm 60.
I'd like to extend it though, which would cost about another 200k

The mortgage you're thinking is is only 1.5/2 times your salary, so relatively not that big. You could always downsize in 20 years' time.

Do you have money set aside - Eg for kids school/university?

Thanks.
I don’t really want to downsize as im hoping to keep it as a forever home kids can come back to when older etc.

In my late 40s I had a mortgage for 17 years. I'm now 10 years older and still have some tears to pay off. I don't mind. I enjoy working and using my brain and I willl have a more valuable asset to show for it, plus by planning to work longer I will have a better pension too. But some of that was shaped by wanting to stay in a more expensive area where I'd been living. It's just me to pay the mortgage but I'm okay with that.