What age were you when you BEGAN your mortgage...

sahmx5

I was 23, dh was 32. In 1993 borrowed £75000 on interest only as was being crippled by payments to CSA. Sold house in 2006 for £240000

New house June 2006 borrowed £143,000 over 16 years to purchase house for £375,000. £60,000 interest only (underperforming endowment) the rest on repayment. 10 year fixed rate at 4.67%. Trying to overpay but not easy with large family. Aiming to be mortgage free when the endowment matures in 11 years time.

melg1973

I got my first house (2 bed terraced) at age 22 with my ex on 95% mortgage of £48k, then the year after part exchanged for a brand new four bed detached (he had good job!), on a 90% mortgage of about £76k.

I left him at 26 and after living with mother for a few months (aaaaargh)bought a flat for £52k with an £18k deposit from the split. Then at 30 I sold the flat for £78k and managed to buy the property I am in now which is a 2 bed semi at £95k but only with a £43k deposit from the equity, a full time job, part time bar job and a lodger!! Worth it though - I am now married again and OH had gone through a similar thing and has put £31k into the house from selling his previous property. We have just under £11k left to pay and overpay by £45 per week (strange amount I know!)

Iam now 33 and should be mortgage free in 3 years or so......if we don't have children that is!!

bekkki1

I've just got mine. £69,309. And im 25.

100%, On a 30 yr term, fixed for 3 years.

On a stupidly high rate, as Im a single parent and my wage isnt that great, they had to take tax credits in to account.

Hopefully in 3 years when time to remortgage, I will be earning more and the interest rate will be lower.

Not allowed to overpay so will be putting any extra in my ISA to save a lump sum for when remortgaging.

Coveredinbees!!!!

I got my first mortgage in 1998 I was 32 and my wife (well she is now) was 23. I insisted we put down 10% so we borrowed £50,000 on a £56,000 house. We sold that house in June 2005 for £135,000. and bought this place for £140,000. When we moved in it needed everything doing and we currently have no kitchen but when it's all sorted it should be worth around £210,000 according to an estimate we got from a friendly estate agent. It's all a bit silly really, I'm just glad we bought when we did or frankly we would be screwed.

froggy27_2

i bought my house on my own about 10 yrs ago for 78000, i was 27. It was only about 10yrs old when I bought it so fairly good condition.. I'm still in the same house and it's worth about 225000... I'm so glad i bought when i did cos not long after prices started to go up and now it's silly... and i wouldn't be able to buy it now...still a lot to pay on it... about 56000 it just doesn't seem to go down....end of month seems hard every time but i like my little house....and i feel i've got something to pass on to my daughter, eventually (well she's only 3!)...

kittykirsty

Really interesting thread! Thanks OP for starting this one!

I've just turned 23 today, but technically got mortgage at 22 and OH at 25 for a flat we've yet to get the keys for!

100% mortgage for 114K over about 35 years if i remember right. Not bad interest rate, and it's an offset mortgage, so quite happy with the deal (if anyone's interested it's with the Yorkshire, and we got such efficient service I'd happily recommend them to anyone)!

Alion

Fiance and I are both 23 and about to pay first repayment.

We bought a £225k house and took out a £200k mortgage.

It's an awful lot of money for a first house and I'm desparate to get that down as quickly as possible before we have children - don't know quite how we'll afford it then, but OH is convinced he'll get fantastic payrises :rolleyes:

Aberdeen_Taff

I was in the Forces so had the benefit of cheap, magnoliatastic digs to live in so managed to save a little bit despite the temptation to blow it all on the high life :beer: .

Left in 2001 and bought a house with Mrs Taff (28 & 27 respectively - I am the old one!)for £105k having managed to put down £11k. Sold it last year for £249kand bought our last house for £290k and have £135k outstanding.

Junior number 2 (and last!!) due in May :eek: so hope to be able to start over paying once we get settled again!

linuxgirlie

I was 19, it was joint with OH and was in 2004 for £106,000

jackie_w

I turned 18 in the March, and bought my first house in the May.

Scary thought thinking about it now.

Jackie