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.

65, but planning to pay it off by 60.

48. Paid off two years ago.

But, I wish we'd stretched to buying in a nicer area. DH insisted on here & squashed all other options.

DH has now offered to move (his DF has now moved away from here to that area I like, which means he just wanted to be near them.) Although tempting, I like being mortgage free too much & we'd need a mortgage again to move.

Nearly 70. Early 40s, got 25 years to go.

Who are all these people paying off mortgages by 40 and 45? Did you buy straight out of school or uni? Props to you if you did, but how? Did you have family help? Very high earning jobs? Live in Toxteth or the Highlands?!

The only people I know who are paid off by mid to late 40s are:

• Relative living in a super-cheap area abd with a high income relative to local average income
• People who had big inherited deposits or family help with mortgage payments
• People who ‘bought’ from their parents ie they rented a uni house purchased for their use, whilst the parents collected rent from their uni friends - not a bad set up if you can afford it; definitely not going to be open to me!
• couples together since school. Divorcees and the abandoned folk need not apply (!)
• Very high earners who got on the ladder young and didn’t trade up to mega mansions but stuck with sensible non-flashy homes
• People who live outside major capitals in Europe, the US, and Canada, and parts of SE Asia and Asia, where you don’t need to sell an organ to buy a property.

Currently when I'm 62, DH will be 66 but aiming to start overpaying in the next few months (was overpaying but had to stop around 18 months back due to other costs)

I must confess to not being overly focused on wanting to pay off the mortgage as soon as possible as it's not a debt that stresses me out.

I was 52, DH was 48

We took out our first mortgage at age 33 - think it was for 25 years. Sold and got a bigger mortgage. We were able to pay if off by our very early 50s. we overpaid and prioritised it. It would probably have made more financial sense to pay on schedule and put the extra money "in the market" but emotionally it didn't.

I was 51. Lots of overpayments, and SOOOOOOOOO worth it.
It is a lovely feeling.

Separation/ divorce is such a bummer. I’d have been paid off by 57 had my relationship not been a total car crash. I’ve never worked that out before: bit depressing actually.

Paid mine off 2 years ago at 54. I’d been overpaying for about 6 years and really prioritised it while interest rates were nigh on zero (tracker mortgage).

Just did at 52 and 55.

Mine will be cleared this year thanks to an inheritance. We have 16 years left to pay which takes DH to 67.

Whilst I appreciate how lucky we are to be in this position there are no words to describe how much I'd rather still have parents to invite to visit our mortgaged home.

Would have been this month. However, divorce. So I now rent and can't buy. It's feeling a tad galling at the moment.

We paid ours of by late 30’s before we had our DS. It made things so much easier with childcare costs etc.

I Was 47 but it was because I sold in the SE, paid off the outstanding mortgage, moved up north and bought a house outright.

I had taken my original mortgage out when I was 36 and had I not relocated, my overpayments meant I would have finished it at 56

I’ll be 52. Was aiming for my 50th birthday, but decided to put more into a pension instead. Can’t wait though.

We’ve got just over 6 years to go so I’ll be 57 and DH 59. We’re on a 1% interest rate until January 2027 so we’re saving as much as possible so we can pay a big chunk off when the fix ends and hopefully knock off at least a year.

When I bought my current house at 38 I got a 30 year mortgage of £81k, meaning I'd be 68.

Since then I've always made overpayments, pretty much every month, some months more than others. This meant I dropped 5 years off the term after 5 years, then another 2 years reduction after 8 years. Then my mum died unexpectedly so I was able to make a lump sum payment of £25k.

I hope to pay the rest of my Christmas, when I'll be 49 after paying my mortgage for 12 years.

My youngest turns 18 in July and all my child-related funds stop in August so this has always been a plan to overpay as much as I could. My mum dying was not part of the plan...

Finished on my 40th birthday. It was a good day!

I was 26... with my first one.
Bought my Mum her council house 40 years ago for 5 Grand... out right.
She passed away when l 36.. so it became mine..
I still have it but a relative lives in it.
I have my large bungalow ( no mortgage.. bought with my pay out).

Bought for £475 grand now worth just over a million.
I have to keep having different adaptations for my disabilities.

I will be 46, 4 years and 9 months to go.

We have been very boring though. Bought our first house in 2005 and just stayed here. Suits us and 2 out of 3 children are now adults so happy to stay put. That wasn't the original plan but the 25 years has flown!

We are hoping to pay it off in two to three years so 51-52. Only achieved by staying in a cheaper area (despite being really keen to move) and prioritising overpayments. Investing the money would probably have made more sense financially but I’m super cautious and couldn’t handle the risk. The money not made on mortgage payments will go into pension and supporting Dd through uni.

60 Which is longer than I would like, cannot afford to overpay as I spent years being a carer for my disabled son and my earning capacity was dramatically reduced.

We’re currently planning to pay it off end of this year when the fix finishes, currently overpaying as much as we can

42 - and to the earlier question no family support etc more high earning / not too ridiculous a property combo

We will pay ours off in June when the fixed term runs out. I’ll be 40, DH 38. We have had significant inheritance and gifted deposit though so it’s not really been through our hard work. It’s a 2 bed flat in London.

We are going to enjoy a couple of years mortgage free whilst I’m on mat leave, then take out a scarily large mortgage on a comparatively tiny house that will tie us in until retirement so it won’t last long!