How old when you pay off your mortgage?

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  • How old when you pay off your mortgage?
  • Premier Icon mikewsmith

    no mortgage here, no house either do I win something?

    Premier Icon zippykona

    I was 49. Took in a lot of cash to pay it off and the lady gave me 1p change.
    We had it framed!

    Premier Icon on and on

    41 now, it was paid off two years ago.

    Premier Icon Onzadog

    At the moment, I’m not sure what comes first, mortgage clearance or retirement.

    Premier Icon Nobeerinthefridge

    42 now, 4 years to go. Managed to pay a whack at redundancy 3 years ago, and also overpaying too.

    Canny wait.

    mikewsmith – Member
    no mortgage here, no house either do I win something?

    Yep, you get to pay rent all your days. Win!. 😥

    Mr Woppit


    I’m 66…

    Sold it on, cash-bought a casa in Espana on part of the proceeds. Sitting relatively pretty.

    Cupola vino roja? Gracias.

    Premier Icon colournoise

    Don’t even really want to contemplate this… 67… 47 now…

    Premier Icon weeksy

    Dead. My life insurance will pay it off.

    Premier Icon breadcrumb

    33. Now 37. Then we got a bigger house so it’ll be 65 🙁

    A few over payments have been made so we would knock a few years off it hopefully.


    54. Having said that it was only £350 a month so not a huge amount. Still, better in my pocket than the building society’s.


    Paid mine off at mid 30s with redundancy money then 5 years later moved and took on the biggest mortgage I have had.
    Hopefully pay this one off at 55, 6 years to go…..


    Just bought a bigger place. 67 now. Was virtually paid off in the first place. Hopefully be able to start overpayments when not paying a second mortgage in nursery fees

    Premier Icon sockpuppet

    Due to be 64 if we don’t overpay.

    That said I’ll be extremely disappointed if it’s anywhere near that in reality.


    Projected to be 43

    That will stretch out once the current overpayments slow down – kids -maternity leave, interest rate rises etc


    Late twenties for me. Was only a little mortgage on a pretty inexpensive flat though so wasn’t much to pay off. In process just now of deciding whether or not to stay here and retire in my mid forties or retire in my fifties and move somewhere more expensive. Good choice to have so not complaining.


    I’m just moving to another house and was wondering how old you’ll be when you pay off your mortgage?

    I will have 13 years left on my mortgage, so will be 56 when its paid off!


    Currently due to finish late 40’s, but chipping away at it with overpayments so hope to have it completed sooner.


    Paid off before I was 40. 2 moves later, I’ll be 65.

    Premier Icon stevie750

    67, I’m 46 now.

    Premier Icon nickjb

    Didn’t start mine until I was nearly 40 so I’ll be fairly old. Could pay most of it off if I really wanted but the money is being better spent at the moment on coke and hookers investing as the returns are better than the mortgage interest plus a few lifestyle choices


    Went from being mortgage free at 50+ to getting a pretty substantial mortgage when we moved 5 years ago. Will pay the mortgage off by downsizing when the time is right.

    Premier Icon siwhite

    Could pay most of it off if I really wanted but the money is being better spent at the moment on coke and hookers investing as the returns are better than the mortgage interest plus a few lifestyle choices

    This. We have about half the amount of our mortgage in a managed portfolio, which returned 8% last year compared to a couple of % mortgage rate. We are going to remortgage next week before rates rise, and will likely elect for a shorter repayment period than our current 20 year mortgage.

    In answer to the OPs question, I’ll be 60.

    Premier Icon Bustaspoke

    I paid mine off at 49 or 50.In truth I could have paid it off earlier if I had sold my shares,so I think the pressure was off a couple of years prior to that.
    Unfortunately,I didn’t like where I lived & to move to where I now live meant more money.I ended up buying a ‘fixer upper’ so I didn’t need to get a mortgage again,but it’s been hard work..


    Paid first mortgage off at 31 then decided to move house, paid that off at 41, then borrowed more for extension, in the process of selling up and mortgage free again forever at 54.
    Now buying a property much cheaper so trousered a few quid to fund a life of debauchery.

    Premier Icon davosaurusrex

    43 here, due to be paid off at 60. Figure that will give me at least 5 years to whack some more funds into the pension. Would like to make some overpayments and take a few years off it but these kids don’t seem to be getting any cheaper to run!

    Premier Icon Caher

    not bought a house since returning to the UK – now 50. Lucky to have a decent deposit.


    Got lucky with a good job and paid mine off at 28. No plans to get another.

    Premier Icon miketually

    Assuming we don’t make any changes or overpay, we’ve got 15 years left so will be 55. It’s less than £500 a month though.


    43 and a couple of years to go. Mrs was up for moving 18 months ago, same sort of house just a nicer area very close to the tube station. Would of been a total renovation job, with most of the work done by muggings (been there and done that)
    But the idea of being mortgage free, slowed her down 😀
    Roll on to being Over biked, still untalented and mortgage free 😀


    41 now, i’ll 57 when done… maybe less, who knows… over paying certainly helps, we’ve taken 4 years off ours so far…

    Now, just the divorcees / newly separated?

    Premier Icon MoreCashThanDash

    Paid off at 45, now 48. We only had a small mortgage after moving up from Sussex to enable MrsMC to stop working when the kids came along, then we overpaid the mortgage with her salary when she started back again.

    We were lucky to have been able to take jobs and chances when we did this.


    Paid my first off at 36, then moved, downgraded my job to something less stressful, 2nd one should be clear at 50, in the next couple of years.

    Then planing to cash in, rent and travel more

    Premier Icon njee20

    65. I’m 31. Meh.


    Paid it off about nine years ago so would have been 49 or so.


    We’ve just bought our “forever” house (probably forever anyway)

    And paid off our mortgage at the same time. I’m 44 and OH is 39.

    Feels great being mortgage free I have to say.


    59 assuming we don’t start overpaying again.

    If we end up in a position where we can overpay, I think I am likely to put that money onto my pension instead.
    Not that knowledgeable finance-wise but with low interest rates at the moment, I think the returns on a pension should out-strip the savings made by paying the mortgage off early.

    Although saying that, it would be nice to clear the mortgage off as soon as possible!


    47. I only had a 5 year mortgage and paid it off after 3 years, I couldnt pay it off any quicker due to penalties.
    Actually this hasnt happened yet, its 4 months away. Looking forward to it.
    Will probably buy a santa cruz nomad to celebrate.


    50, I’m 52 now and next move will be to cash-in and downsize / move somewhere cheaper. Have tried to convince the wife that we could go travelling in our camper and rent the house out which would give us a good income – she’s not convinced.


    56… finished paying it last year, total anti climax 🙂

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