Is anyone else aiming to be MF before age 40?


I currently have 36k left on my mortgage. We are building up savings to pay this off by next summer (2014). By then I will be 38.
I bought my first house at age 22 and currently have a tracker mortgage with just 0.99% interest. We don't have children & both work full-time.

My aim is for freedom and to be able to reduce my working hours for a better quality of life.

Does anyone else on here expect to make it to freedom before age 40?
Mortgage Free on 30/9/19.
Highest Mortgage was £105,000.
Paid off 9 years early.


  • With no OPs, we would be MF at age 54 and 59!!

    So certainly hoping to be MF before 40 :)

    That's an amazing interest rate!

    Good luck :)
  • Long time lurker here, but yes that is our aim. We have twenty years left on our mortgage and would like to half that term.

    Not so easy with two young pre school kids and my OH working part time but we are up for challenge.
  • maureen100maureen100 Forumite
    127 Posts
    Part of the Furniture 100 Posts Combo Breaker Mortgage-free Glee!
    Calfuray wrote: »
    With no OPs, we would be MF at age 54 and 59!!

    So certainly hoping to be MF before 40 :)

    That's an amazing interest rate!

    Good luck :)


    Yes that rate isn't available anymore. I took it out with Woolwich back in 2003. Looks like I made the right decision, we started off on about 5% and it's dropped so much since then enabling us to pay extra off it.
    Mortgage Free on 30/9/19.
    Highest Mortgage was £105,000.
    Paid off 9 years early.
  • OS_QSOS_QS Forumite
    339 Posts
    We are certainly trying to be mortgage free mid to late thirties. Ideally 35 but more realistically 37. Still have a pretty big mortgage but we are determined :D

    With no OPs we would be 48/49

    We also both work full time, have no kids and bought in our early 20s, but it took us 5 years before we started overpaying. I've got the OP bug now though :T and hopefully also making best use of the low interest rates.
    Mortgage debt : -£17,000
    2019 overpayments : £23,000
  • I'm aiming for 35 but I'd be very happy with 40, as we have to add £40K onto the value of our mortgage to pay back my parents for helping us get our 'forever home.'

    (May even be a bit more depending what we sell our current house for.)
    OPs so far £42,139
    Original end date Nov 2037 (53) Current end date June 2024 (40) Aiming for 5 years to be Mf
    DD1 Oct 2008:), DD2 Jul 2010:), DD3 Aug 2013:)
    When life is getting me down I try to remember to thank God for the blessings
  • Myself and gf got our keys 2 weeks ago today. Our mortgage is over 20 years repayment. We are 21 so that would make us 40. With OP we are going to go for 9 years time, by age 30. Same again for next place so 2 mortgage free houses by 40.
    :eek:Living frugally at 24 :beer:
    Increase net worth £30k in 2016 :
  • somethingcorporatesomethingcorporate Forumite
    9.4K Posts
    Given it is only 12 years away it is unlikely for us to pay off our £350k in such little time. I think we'll aim for 45 or so but need to get cracking on OPing which has almost disappeared recently for us.
    Thinking critically since 1996....
  • ultrarunnerultrarunner Forumite
    374 Posts
    Part of the Furniture Combo Breaker
    I would like 40 as well, but realistically looking more like 45, I would need a big increase in salary to do it much earlier.
    Mortgage May 2012 - £129k
    January 2015 - Mortgage down to £114k
    Target for 2015 to get down to £105k
  • sillyinthepastsillyinthepast Forumite
    244 Posts
    I haven't even made my first mortgage payment yet! as it shanks I would be 56 when we pay it off (30 now). I am aiming for 45 but I will be so pleased if we can get it before I am 40.

    Good luck on your journey.
    £370/£300 April challenge :T:T
  • If I could get mine paid off by 30 then I'd be so happy. It would be tough going on just my income but it's worth the challenge!

    Only £82k to go in 6.5 years...uhhhhhh
    Mortgage 1: May 2012 £90,000 April 2020: £47,000
    Mortgage 2: £270,000😱 Jan 2019 £253,000 April 2020
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