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Ever had a mortgage? How many years did it take (or you planned) to pay it off?

Ramona

Administrator
Staff member
Messages
73
#1
We were both lucky (husband and I) that our folks took a mortgage when we were young, so we inherit 2 apartments. The only real estate investment we made together is the house in a nearby village (which costs a fraction of what we'd pay here, in the city). About 10%.

Did you inherit your home or do you have a mortgage? How many years do you think it will take to pay it off? 10? 20? 30 years?
 
Messages
156
#2
Never had a mortgage. Most young people in the UK, are getting there first mortgage at the age of 30,40, or even 50! That is to late considering you only live until your 100, if your lucky.
 

Ramona

Administrator
Staff member
Messages
73
#4
Well, 3 years to pay of 85K is pretty sweet. Your folks did a great job with paying off debt.
 

Claudia

New member
Messages
6
#6
I have. My second. First was for 28 years and paid in 8 years. The new one is for 15 years but 2 paid already. I replaced the rent with bank payment with similar values, on the idea: the mortgage is over in some years but a rent never.
The accountant suggested to buy another one and to rend...