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

chloejane_2

in 1997, OH was 21 brought a 2 bed mid terraced cottage for £33.500 i met him few months later when i was 18 moved in paid arrears on mortgage, had DS middle of 99, sold cottage end of 99 for £39.000 as it was not big enough, good job as one week after moving found out we were having DD! brought 3 bed mid terraced house for £48.500, in 2001 took mortgage to £50.000 to do work in house then sold house last may for £115.000, brought semi detached house for £130.000 with only £70.000 for a mortgage. the first house was an endowment and that runs for another 15 years, and the second mortgage runs for 20 years, just very glad we had the mortgage from such a young age, and we were not worried about buying houses that needed work doing to them as they were always cheaper, even thought friends thought we were mad at the time they have seen how beneficial it has been for us. hoping to over pay on mortgage from feb this year so that both endowment and mortgage end in 15 years, the plan is that we will both be mid 40's with kids that no longer need us to look after them and no mortgage!

ftbworried

foxy_pepper wrote:

We bought a year ago, I was 22 and my boyf was 27. Our house cost £185k and we got a 100% mortgage, not our original intention however once we had moved in and paid the solicitor plus all other costs we then put our original deposit in as an over payment.

Snap (ish!) - April 2006, I was 22/ husband 25, and I was still a full-time student at the time. We took out a £171,000 mortgage on a £180,000 house. It needs a little work which we are in the process of at the moment (thank god for our tradesmen dads!) and the same houses as ours are selling for £210k+ on our estate. It's certainly difficult to overpay lots when your standard payment is £1000 a month!

It's nice to hear of people on this board with 'recent' mortgages, it can be a bit soul-destroying when lots of posts are from those with 'pre boom' mortgages. If only we were born 5 years earlier!

Yorkielass

We got our 1st mortgage at the start of December last year I was 24 and OH was 23 (very nearly 24). Had a 22% deposit and have a 135K mortgage.

wishiwasarichgirl

1st mortgage Nov '05 age 25. £127,500 :eek:

pinkpixie_2

I bought 6 years ago aged 25, house cost £80,000 and mortgage was £72,000. Sold two months ago for £153,000 with £63,000 mortgage. Cleared mortgage in purchase of new property (see below).

DP bought 7 years ago aged 28, house cost £65,000. Mortgage £60,000 + took some extra borrowing afterwards to do up house. Sold two months ago at £151,250, mortgage at £54,000.

Ported the £54,000 mortgage to 3-bed detached property costing £237,000 two months ago. Now trying to reduce... knocked 10% off as max annual overpayment up front.

Pink Pixie

PMB74

Bought first house when 21. Cost what was then a scary £33,000. 11 years on and I bought a house for nearly 6 times that amount yet that didn't seem as scary!

Mortgage free is a far off dream right now!

zag2me

Bought in Aug 2005 when I was 26 years old.

80k mortgage with 5k deposit on a very small flat in a nice area.

Jet

Bought my house with my ex husband in 1993 when I was 19. We paid £42k for it, we upgraded to a 3 bed place a few years later and paid 60K for it. boy, did that seem like a lot of money!

We split up and he bought me out - I took out a new mortgage and I've now got 21 years left to pay. So that means I'll be paying a mortgage for 35 years. :eek: Admitedly it's a small mortgage by today's standards but it's still a big chunk out of my meagre part time salary.:rolleyes:

missymoomoo

Bought my first place when I was 18. One bedroom flat that needed a lot of work doing to it for £22,000! Bought second house at age 25 for £95,000. Am now 27 and considering moving again!

It was the best decision I ever made.

Sammz

I was a week off 29 when I got the keys to my flat. That was November 2005. Got 100% mortgage on a £55k flat. Seems I bought at just the right time as downstairs sold recently for offers over £75k (sold prices are up to 30% more than asking price here).

I was 22 when I started looking to own. Unfortunately relationships got in the way of it happening sooner!