Paying mortgage when retired OAP?

Jemma01

I'm 39, the prospect of not owning a home at 70+ really scares me. I feel terribly sorry when I read pensioners here paying rent or losing homes they paid mortgage on but haven't finished the payment. Hate owing money to others, now that I'm FTB my main focus is how I'll pay the debt ASAP.

BarelySentientAI

Jemma01 said:

I'm 39, the prospect of not owning a home at 70+ really scares me. I feel terribly sorry when I read pensioners here paying rent or losing homes they paid mortgage on but haven't finished the payment. Hate owing money to others, now that I'm FTB my main focus is how I'll pay the debt ASAP.

A common emotional sentiment, but not based on a sound logical or financial basis. 

There are many other things to do with your money, some of which will make more sense than trying to pay down a relatively cheap debt. 

It's good to have a plan for 30 year's time. It's not good for that to scare you now.

Yorkie1

Jemma01 said:

I'm 39, the prospect of not owning a home at 70+ really scares me. I feel terribly sorry when I read pensioners here paying rent or losing homes they paid mortgage on but haven't finished the payment. Hate owing money to others, now that I'm FTB my main focus is how I'll pay the debt ASAP.

Don't forget the bigger picture. Yes, overpaying (particularly if your mortgage rate is higher than savings rates) is worth doing. But also you should consider issues such as ensuring you have sufficient in emergency funds, and making sufficient pension contributions (assuming a SIPP or DC based pension) early enough to allow for increase in value over the decades.