How much is your mortgage per month? What age will you pay it off?

[lenny2011]

We hoped to pay off mortgage when we turn 50 but going to buy new house so will have to extend term.
Currently 1k per mth which is manageable but will increase to 1.5k per mth which hopefully will be ok but need to budget more

E£550/month, gets finally paid off when DH is 70, in three years time.

£1400 per month, extended hugely to pay for a big extension, which has made out house pretty much perfect. We're supposed to pay off by the time I'm 60 but we're overpaying £250 a month, which saves five years or so. Was thinking about buying a holiday flat too but now leaning towards overpaying more on the mortgage each month.

£1800 a month, intending to clear it by 50.

£745 pm we bought this house when we were 40 so will be paying unti we are 65. Only about 30k left to pay now out of the £130k we borrowed, so if we decide to retire we can pay of the balance out of our 90k lump sums and still be comfortable. Around 4 years left to pay.

This is really interesting, I thought our mortgage of £700 a month was loads until I saw some posts on here. At current rate will pay it off in early 60s but hoping to make overpayments to reduce it as much as possible.

I think you also need to consider how long the original term was and how much was borrowed.
£40k over 10 years is similar to £80k over 20 years, on a month by month basis...

£1350 a month. Currently over paying by £550 a month.

Should have paid it off by the time I'm 53 (dh 56) but hoping to pay it off by the time I'm 47.

£1550 per month, but need to overpay by £500 per month to clear it by 65/62, otherwise runs to 70/67. It's a new mortgage so we are adjusting to the new outgoings! Does feel a lot but love the house, so determined to make it work.

1700 a month here - should be all done in the next 10 years. With any luck. We will be 45.

680 a month. At the moment to be paid of by im 48 but we are overpaying so sooner. But saying that we would like to move in the next 5 years so will probably stay the same if or only increase slightly if we overpay enough

£540 a month. But hopefully next year we should be able to remortgage down into the next LTV band and that will knock a good £100 off (at least). I'd like to try and overpay it to match our current payments though.

Unless we move, increase it, or drastically overpay, I will be 51 when we pay it off.

£550 pm, 40yr mortgage and will be paid off by the time we're 70 unless we start overpaying or add to the mortgage to build an extension, both of which we're planning to do

40 years? Are you planning to reduce the term later? So much interest over 40 years!

Oh ignore me, you're planning on overpaying! Phew. We had to increase our term to meet affordability criteria, but we're overpaying to make sure we pay it off at the same time as our original mortgage term (sooner hopefully).

£2900 pcm just started 28y term eek

1100 per month. It'll be paid off in four years, we'll both be 49.

Think a fiftieth in New York is on the cards!

Teddy, we went with such a long term to keep the monthly rate down as it is similar to what we were paying in rent. When it's up for renewal we're also hoping to reduce it to 30yrs.

Some people are paying more than DH and I earn in a month, makes paying ours off impossible!

Seem impossible*

£229 a month. It will be paid off when I'm 49, if not sooner as I'm going to start overpaying.

We have paid off several then bought another property or moved somewhere bigger. So now have several properties and only one mortgage left which is £700 a month which we overpay and will be paid off at 55 when we retire.
As soon as we became mortgage free we always invested in another.
We never went for long term mortgages and always paid them off early- last one before this only took 5 years as we overpaid by loads.
But this will be the last mortgage I think even though we said that last time.

£380 a month. Should be cleared by time I'm 58. We are planning to overpay but need to pay of some debt first. If like to be mortgage free by the time I'm 50.

860 will pay off in 3 ish years by the age of 35, theoretically, as likely to move prior.

£3k a month, currently due to be paid off by 50 but hopefully before then. We overpay reduce the term at every opportunity

As the old adage goes - There are two sorts of people in this world - those who understand compound interest, and those who pay it

Currently £175pm on interest only but hopefully house sale/purchase will complete next month and then it'll be £1500pm on a 35 year mortgage - so paid off when I'm 65. I intend to make over payments to reduce the term though.