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How old were you when you got your first mortgage ?

(104 Posts)
Floradora9 Thu 08-Dec-22 11:26:32

The average age of a first-time buyer is now 37. This quote from the Times .
We bought our first house in the 1960s DH was 24 and I had just turned 24. It was a little bungalow with two bedrooms a living room and a bathroom. The heating was a coal fire in the living room and we lived in a very cold place. The couple who sold it to us were so mean and we were so unworldly . They stripped every lightbuld all the bathroom fittings and even left a large hole in the bathroom wall where they removed a fixed heater. We just accepted it . We were in some ways lucky ( and in others very unlucky ) DH had lost both his parents and I had lost my father so we had a bit of money to use as a deposit. We agreed to buy the house then DH went down to the building society to arrange a mortgage . He was told he really should have done this the other way round but they accepted us. We sold the house a couple of years later at a small profit as DH had been moved to another part of the country.

LauraNorderr Sat 10-Dec-22 23:04:25

At age 20 we bought a quarter acre block of land with our savings Aus$1000 and built a low set three bedroom house south of Brisbane. Had to have a mortgage of AUS$2500 to build. Happy days.

Catterygirl Sun 11-Dec-22 01:56:44

Me and fiancé bought a semi in Canvey Island around 1971. I think it was about £3,000. I had a secure job in the City of London and he worked as a waiter but somehow we obtained a mortgage. We divorced in 1976 and I bought a bungalow on Canvey Island. Halifax Building Society told me I was the first single woman to be granted a mortgage. I still worked in the City. Unfortunately it was all too much on a secretary’s wage and I sold up and moved back in with mum. Long time ago,

LtEve Sun 11-Dec-22 07:04:36

We bought our first house in 1990 for £72500 when I was 25 and DH 27, our combined salaries were £30k and we had a 90% mortgage. The house was a 2 bedroomed semi in the south east , we sold it 6 years later for the same price after the housing crash. I checked online and the same house sold for £351,000 in 2017!
My DD and DS have just bought a 2 bed flat together for £264000.