Massive mortgage!

lovemygirls

Hi all,

I'm new to here, have been reading some threads and am inspired by many of your stories, however I am yet to see somebody with a massive mortgage!
Is there anyone out there with a mortgage remaining over £200,000? Im nearly 40 and feeling like I will never repay my mortgage!

Thanks!

Silian

£200k is tiny for the South East. We are currently on £270k and moving to a mortgage of £365k (which is also tiny for the South East and probably just the deposit for London).

40 is still young (and not even half way through your working career). Don't worry too much

Mr.Generous

Console yourself by thinking fondly about the origin of the word mortgage.

From the French language I believe.


Mort, as in mortician, mortuary, mortality etc meaning "death".


Gage, meant a pledge, but a lifelong one. Also a chain.


As in mortgage, death pledge, or death chain. A loan on property so substantial it was traditionally passed to your decendants upon your death for them to continue paying.


Bet that's cheered you up.

Hazelnutty

It also depends on income and circumstances. My mortgage is about £155k but I'm paying it on my own on a lecturer's wage, which has been going down in real terms for years. Whatever your MFW project, and however you can tackle it, there's support and advice on here, so welcome

mark55man

for me this month is special - after 20 year my mortgage which started at £135K and peaked at £195K (major extension and loft conversion and some debt consolidation) and is now finally back under what we paid for it!!

I am now looking to be MF in 7 years on the Coventree 7 year fix at 2.09%

good luck!!

Mortgage_Minimiser

Hi and welcome!

I don't have my own thread - something I am thinking about - but am a very long time lurker and post occasionally.

I am in the North West and my mortgage (on my own) is £267k.

The fact you are here trying to beat the banks as much as you can is credit to you.

Oh, and I'm 47, so quite a bit further down the line than you are.

Good luck, first step made... we can all do this.

MM
xxx

staffie1

Silian wrote: »

40 is still young (and not even half way through your working career). Don't worry too much

Well, it is if you’re happy working into your late 70’s, you’re capable of doing so, and someone will continue to employ you.

edinburgher

Silian wrote: »

£200k is tiny for the South East. We are currently on £270k and moving to a mortgage of £365k (which is also tiny for the South East and probably just the deposit for London).

40 is still young (and not even half way through your working career). Don't worry too much

London FTB deposit was roughly £90,000 as of this summer! :eek:

Silian

staffie1 wrote: »

Well, it is if you’re happy working into your late 70’s, you’re capable of doing so, and someone will continue to employ you.

I guess that's true if you started working VERY early, but don't most people start working in their early 20s?

If we use 20-65 working life then half way is 42.5

lessavyfav

:wave: £485k owed on our mortgage, we’re in our mid 30s. Try not to compare yourself though!