What age were you mortgage free? 1 June 2020 at 12:30AM in Mortgage-free wannabe 7 replies 132 views

hello007007

Hello,
Thank you for reading my post.
I was just wondering what age you were or are realistically planning to be mortgage free at?
My friend has just finished her mortgage at 46! I hope this thread will inspire me to be more focused.

skinnish

To confuse things for you a bit more. I currently never plan on being mortgage free. Instead I remortgage once there is enough money built up in equity and reinvest elsewhere. 

fred246

Mortgage free twice 30 and 49. The second house cost 7x more than the first. If you buy a cheap house you will be mortgage free much earlier. It depends what you want.

kaMelo

Been mortgage free twice, once at 31 then moved to a bigger house a couple of years later with a new mortgage that was paid off at 48
I know people who do exactly as above poster, remortgaging and investing, the idea that investments will outperform mortgage commitments has by and large been true but doing so doesn't give you that mortgage free feeling. I guess it's horses for courses really.

JGB1955

Mortgage free at 40.  Mind you, that was 25 years ago and meant a lump sum payment of £18,000! Those were the days.   . 

dark^knight

Paid my first mortgage off at 31...then bought a house that cost ten times more than the first.

Now mortgage free at 46.

LadyGnome

First time at 37 but now rent that one out and bought another - aim is for 57 or earlier (we are in London so house prices are stupid). 

LeighofMar

Aim to be mortgage free by 45 in 3.5 more years. If for some reason, we do end up moving house, it'll only be if we can buy it for cash as I am done with mortgages.