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

pippamannequin

19 when i got my first mortgage, 24 when i got a joint mortgage, 31 when i sold out to my ex, never had a mortgage since..12 years of mortgages and spent every penny of equity on solictors fees fighting for my kids. Worth every penny :T

Sloppy_Saver

at last, someone with their priorities straight!

madhouseof4

I was 21 and our mortgage was for 37 1/2K for a 2 bed semi. That was 7 1/2 years ago and since then we have had a 2 storey extension to the side of the house and a single storey across the whole of the back costing 42K and the house is now worth about 140K. Hard to work out what our exact mortgage is now as we have a one account, but our current borrowing is at 64K. Not too bad I think

Adbru

Short version:-

20 and 22
1987
100% £30k 2bed semi (and a struggle to get it !!)

Long version:-
bought the first house just before getting married.
Vendor wanted £30500 and wouldnt drop the £500 :-(
had to use the furniture money to pay the legal fee's....
second hand everything for the first year.... (Cue the monty python - "shoebox !! bl**dy luxury!)

Sold in 92 for £47k, bought a 3bed semi for £51k
sold in 97 for £55k, bought a 6bed detached in the country for £80k !!

Had to remortgage a few times for various reasons but now down to £26k and had hoped to be finished in 2 years but then eldest went to college last sept so got stung for his rent :-(

Still should be finished in no more than 3 years :-)

Adbru

<< remembers 15% interest rates and shivers >>

wymondham

It's been really interesting reading all the various replies - so varied! thanks for the replies and keep them coming ...!!!!

alice's_mum

was 24 OH was 29 when we bought our first 2 bed flat in Bristol for £51K sold it in 95 for 56k,(it was recently on rightmove for and sold for £210K!!!!!:eek: - why didn't I say we keep it and rent it out ????- ) bought 3 bed semi in Manchester for £61K sold that in 2003 for £100K, bought similar 3 bed semi in Liverpool for £129K not looking to move again - unless my numbers come up on the lottery:rolleyes:

want to start over paying Mortgage in next year or 2.

Mojo71

I was 26 when I bought my first house in 1997 for £75k, but had saved up a fair whack by then, so only needed at £25k mortgage.

Sold in 2005 for £180k, and those low monthly mortgage payments allowed me to continue saving with a good investment strategy, and moved to a £250k property in 2005, with a £40k mortgage.

Going to be overpaying mortgage later in the year, and hoping for my debt/savings ratio to break even in next couple of years.

Anu

Me and my boyfriend bought a 2 bed flat in Windsor in August 2005, its was 4 days before my 25th Birthday and my boyfriend was 26. We bought for £180500 and took out a mortgage for £162000. Me and my now fiance just accepted an offer on it for £240000 and are in the process of buying a house at £300k with a mortgage of £232k and i can't even imagine being mortgage free but when we're in the house we're planning on taking a lodger so we can overpay on the mortgage because the amount that we could save is amazing....
I can't even tell you how jealous i am of all of you who bought before the housing market went mental.

newmum1

Age 26, Paid £60,000 for 50% share mortgage £ 57000 took it out over a whooping 38 years as i would not have been able to afford the monthly repayments but will begin overpaying by about £50 per month in a bid to get it down quicker, once im debt free in dec 2009 hoping to extend the overpayments to about £400 per month. cant wait to be mortgage free.

pickle18

We were 16 and 20 when we bought our first house, tho I was tooo young to go on the mortgage. Our mortgage was for 62K and we renovated then sold the house 2 years later for £110K. We bought our current house when I was 18 and my partner 22 - our mortgage is about £156k and house worth approx £210K now (we are now 20 and 24)