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

petetidball

i was 26 and my wife was 23. It was last february and we got a mortgage for £92540 based on our combined income of just over £17000 :eek:
Luckily it's more than that now!!

Odd_Bodd

Got my first house in 1994 aged 25 for £60,000. That was my absolute max due to earnings. Sold for £167,500 and bought another for £182,500 in 2002.
I had always said I wanted to do a buy to let, but have missed the boat now due to prices! :mad: :mad: How I wish I hadn't procrastinated!

yourbrother1975

I bought my first house in 2001 for £49,000. It was a 2 bed end terrace house. I was 24 and single then. I sold the house in 2005 for 102,000. It was very tough repaying the mortgage to start of with and then it became easy. I kept paying a bit more monthly.

Hopefully I will be able to pay off my house in 8 years. I own a 3 bed semi worth 200,000

PsychoPrincess

I was 20, and decided to buy as I had already been renting for 2 years.
The mortgage is on my own.
The original amount was £66K (£62K for the flat, the rest for legal fees, etc).
I got £5K equity out after the first 2 years.
I am currently 29, the outstanding balance is just under £60K, and the flat must have at least doubled in value. (I reckon!)

tomstickland

FTB aged 34 (2 years ago). Oh dear, I feel old now.

JonnyBravo

First bought aged 27 in Feb 1998.

zekepes

Fist Mortgage: I was 23 (and still a student so it was exDH really) and exDH was 25. The mortgage was for £47K (I think!). exDH was earning about £24K/yr at that point and that was the most we were comfotable with. It was a new build 2 bed semi and we paid £55K for it (I think!). We stayed there for 6 years and sold it for £78K before:

Second Mortgage: I was 29 and exDH was 31. Quite large 4 bed detached for £162K and we got a mortgage for £150K (we took equity from the last house out in cash to update it). Sold it just over a year later for £227K and went our separate ways...

Third Mortgage: New DH took this out when he was 24 (14 years ago) so not a lot to do with me really! He bought a new build 4 bed detached for £94K on a salary of about £24K. His salary rose quite rapidly but he didn't pay any extra off the mortgage or buy a bigger house. Seemed to spend the cash of posh holidays, flash cars and buying shares from what I can gather.

Fourth Mortgage: For £90K, on same house, and them paid off £14K straight away (cashed in the endowment). DH was 35 and I was 32. Six months later took it out again to start an extension and...

Fifth Mortgage: For £36K for the extension.

Now: we now have two mortgages totally £107K. We started out MF journey in February and hope to be mortgage free in three years from now (I will be 38 and DH will be 41). We resisted the lure of the bigger house about 3 years ago thankfully otherwise we would be mortgage free by the time were were 70! We will only buy a bigger house in the future now with equity and savings (as we consider it a real luxury as our house is very adequate for our small family) - which probably means we are staying put but who knows?!

moominyak

First time: 29 (by 2 days - I should have been 28 but the WetNest didn't send the funds on time!), was 100% of £47500 for a 2 bed flat in S. England in 2001 ... sold in 2004 for £89k

Second time: 33 - joint adverse-credit episode (his adverse credit, not mine) - in 2005 -purchase of £150k, borrowed £112k...

Had to then borrow £124k in 2006 to remortgage and pay off early redemption penalty :eek: (£24k borrowed under M&D's name)

Now it's about £122k... and finally all in my name, so feels like a new mortgage again - but at least I'm not relying on anybody else to screw it up now

Sick_Boy_2

First mortgage at 27/28. £36K. Took on with GF who had lived with since she bought the house 2 years earlier. Paid off in 7 years. :beer:

Recently become ex GF so will probably be mortgage again although with bloomy big deposit to put down . Unless I can find a cheap rent and the house prices drop a bit more. Could probably only borrow a £60k mortgage on my wages so not the end of the world.

JayZed

FTB at the age of 31 in 2004, took out an 85% mortgage on a one-bedroom garden flat in London. Sold that at a 30% profit last year when I was 34, and took out a 63% mortgage on a 2-bedroom flat also in London. I'm overpaying monthly on that mortgage, but plan to trade up to a family-sized house in about 12-18 months which will almost certainly involve taking out a slightly larger mortgage. I hope to be mortgage-free around the time I'm 50 (15 years from now).