What age will you be when

[YawnSoTired]

What age will you be when your mortgage is paid off as things stand?
I will be 60 husband 65. Only 18 yrs to go! Ha ha.

50 if we continue with our current overpayments. Was meant to be 53. I've just turned 44 so not too long to go!

10 years time - I’ll be in my mid-fifties

8 years time I'm 49 so 57, may sell before then.

I was 58 but it was under 20k at that point so we just paid it off

We were done at 37. But house is very small and considering whether we want to get something bigger. Maybe we should have stretched ourselves more, we were conservative because we bought when we had low paid unstable jobs and saw the housing market crash of 2008

Really depends on so many things! If we never move, and don't over pay it'll be 60/61, but we currently over pay £100-150 a month and DH has just got a promotion so we will likely use some of that to throw at the mortgage too. I've become a bit obsessed with overpayment calculators and wish I had been a few years ago when our mortgage for the same house was nearly £500 cheaper with a higher LTV! Thanks Liz.

47🙏 our mortgage term ends next summer and we are saving like mad to have the cash to pay it off and not take another one. We are very much on track.

I was 53. Bliss.

I’m 55. I could pay mine off tomorrow BUT as my inheritance was very much unexpected, the penalties make it worth while me overpaying until I’m 60 and then paying it off, which is what I will do

68 unless I get any inheritance.

Thanks, divorce, and a civil service salary that hasn’t increased in real terms since 2004.

I see what you mean, if you needed to rent a place, your rental would likely be closer to £1k, rather than £100. So if you were to pay a figure closer to "rent", you would be done much faster.

We paid it off quickly but at 12x the amount each month. So that would mean the number of years you are taking would equate to the number of months at the rate we chose to pay it

I'll be 60 and my husband 64 assuming we don't come into any money before that!

55 hopefully, I’m 45 now. I’d like it gone if DD goes to university so that I have spare cash for that expense. I’m on track to do it by then 🙏

The main determinant of the answers given by people here will be age: younger people, much less likely to pay off before retirement as will not have been able to get into housing ladder until
much older and housing purchase prices are 8,9,10 times an average salary. Older people buying their first house when houses averaged 3 or 4 times average wage - will tend to be paid off well before retirement.

Generally it isn’t about frugality, although that can come into it a bit.

Same here, kids will be 14 and 10 when we hopefully finish ours

Mid 50s. Could’ve done it sooner but our mortgage payment is very low so while we’re still working we’d rather spend the extra on holidays.

I've had an interest only mortgage since 2011. I don't officially pay it off until 2028 but savings/investments were the same value as the mortgage when I was about 40.

Savings /investment effective interest rates are several percent above mortgage rate hence no rush to pay off.

Hard to compare with others, I assume some could have paid it off years earlier but chose to keep savings ring fenced.

44

53 - 10 payments left unless we pay off sooner as debating moving house

We paid ours off a few years ago-I was 46. It's a nice feeling.

70. We're currently 36 and remortgaged last year and had to extend the term to make it affordable.

As with all these threads, so many variables! Another few years in this house (south east) but if I went back to my home town, I could buy a couple of houses mortgage free.

1 year 11 months, however selling due to divorce so likely will have to take out a further £20-£25k to move. So probably a further 5-8 years more. Sigh. Hoped to be done by 55 but will more likely be 60. Hey ho could be much worse.

As it is currently, something like 40. We’re about to take on a way bigger mortgage though which will knock it up to 65 😭 but it’s a home we can hopefully stay in for long time and we’re hoping to bring the date forward over time

I was 49 when my last payment was made, dh was 57. Second marriage and we chose a smaller house than we could have easily afforded to pay off early and retire younger