Home Owners - how old were you when you’d paid of mortgage?

[funkmonke]

And how much was the property then worth?. (Roughly)

thanks!

I paid mine off when I was 30. Was worth £75K then, now worth £1million 😂

60 - £800K. Had 2 children in my 40s, both put through university.

Bought very affordable houses at 23,28,34,40,45,52, Over paid each time and traded up, mortgate reached zero, 32,40,45 last trade done for cash.

Oh please don’t worry. Mortgage paid mid 50s on a 200k house.

Everyone has different circumstances. From who is able or not work, wage, inheritance etc…

There is nothing wrong with buying your first house at 30yo and taking 25 years to pay for it.

Would have been 46 but moved house a couple of months ago & had to extend mortgage to do it so will be 53 but plan to pay a couple of years early hopefully

50. House was worth about £500k? We started at 30 ( well restarted we went through the whole negative equity nightmare of the mid 90s). Bought a 3 bed semi with a 5% deposit borrowed off a credit card. Moved 5 years later to a 4 bed and just overpaid. Tbf we were driven after our earlier experiences of losing the house with small kids. Looking back I wish we had been more balanced and out money into pensions as well. One thing that we did was not putting house stuff ( eg kitchens) onto the mortgage. I think that made a difference. But we were lucky in life. 2 incomes, 3 kids that were healthy and we had our health and stayed together.

I was 46, single, and downsized to a 3 bed house.

Bought at 24 for £130k, paid off at 36. Worth about £220k. Will be moving to somewhere in the region of £450-£500k at some point in the next 12 months. Should need about £180k on that mortgage

I was 44. Bought for 60k at 19. Not sure what it was worth when we paid it off but now (36 years and a couple of extensions since purchase) it’s around £500k.

I was 36 and I’ve got two kids. Widowhood has its benefits - thankfully.

Bought in 2017 for 415k and paid off in 2022, aged 32 with 1 small child.

Weird thread, kind of a cross between property porn and comparing yourself to the neighbours. But ok: in my case, £150K house in SW in 98 now worth about 800K, paid off at 40 but I left mortgage on a BTL (my first house bought at 27) so could purchase house in France. I'm 60, 2 kids thru mix of private and state school and now, uni. Myself and DW consider ourselves very lucky to have been in right places at right time. Really its mostly down to that - which is unfair on the next generation. Much of the above will prob end up being used to help said kids if it doesn't get eaten by geriatric social care ☹️ which is probably fair if I'm honest, but either way this country is really f*ed sadly.

Low income but saved since 15

Bought mobile home at 21 for £9k - felt like a proper house though as it had a garden 🤣 didn’t make anything on it as it had to be scrapped!

Bought 1 bed flat at 27 for 34k & sold it for £67k - overpaid mortgage early

Bought 2 bed cottage at 38 for £124 - (beaut house, area not so) - again overpaid mortgage sold it for £137

Bought 2 bed tiny house in the nicest of locations with garden, drive & garage at 43 for £190k - combination of big deposit & over paying & was mortgage free at 47

I don’t think I will move again. I like being mortgage free & having money to spend. I also like saving!

I was 56 and property worth about £275.00. It’s a good feeling. 😁

32, £500k

I was 38, house worth £350k. Have 1 dc

paid off at 32, house was worth about 400k at the time

We were late 40’s when we paid our mortgage off.

We'd lived in our house for 23 years, paid £117K for it, sold it for £402K, 4 bed/2 bath semi in a SE county.

Your deposit was 415k?

Paid it off in the past year aged 34.

Bought for £190k (25% deposit), original term of 16 years and paid it off in 8 years.

Haven't had it valued but based on property nearby it's probably in the region of £300k.

We have kids but didn't for the first few years of having it.
We've had no financial help or inheritances or anything, we prioritised overpaying the mortgage and diverted pay rises towards it. It also means we have very little in savings because at the time the mortgage interest rate was higher than savings rates.

Having it paid off helps loads now we're paying so much in childcare fees. We'd struggle to pay both.

Not yet but the goal is to have it paid a few weeks before my 46th birthday in 3yrs time, not sure what the house will be worth then, it's around £375k now.

60 - as for the rest, none of your business, really!

60; I sold it 3 years later for £420K.

48
About £300000

Nearly cleared. We will be 61 and 65, both in good jobs.