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How old were you when you got your first mortgage ?

(103 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.

ExDancer Thu 08-Dec-22 11:27:56

We were both 21, both working but they based the amount we could borrow on the man's wage.

Aveline Thu 08-Dec-22 11:28:49

I was 21. DH was 23.

Happygirl79 Thu 08-Dec-22 11:30:19


DanniRae Thu 08-Dec-22 11:34:38

I was 21 Mr R 25. We are still in the same house .... since 1970!

Millie22 Thu 08-Dec-22 11:39:01

I was 22 and bought a flat. So many people told me that you only ever rent a flat not buy one.

Grandma70s Thu 08-Dec-22 11:41:08

I was 30, in 1970. We rented flats before buying a house. It was only because we wanted a more settled situation to have our children. I didn’t really fancy the responsibility of ownership. I am 82 now, have sold the house and am in a rented flat again!

timetogo2016 Thu 08-Dec-22 11:41:28

I was 20,he was 25.

HurdyGurdy Thu 08-Dec-22 11:43:58

I was 18, my then partner was 32.

We bought a three bedroomed end terrace in Forest Gate, East London. Paid £12,995 and sold two years later for £36,000.

When we were looking, I kept saying "I'm not spending more than £10,000 on a house", but I fell in love with it, so stretched the extra £3,000.

How times change 😒

FlexibleFriend Thu 08-Dec-22 11:44:52

I bought with a male friend and had my younger brother living with us. I was 18 my male friend was 24 and my brother was 16. Both my parents had died and we were skint but saved like crazy to get a deposit of £500 together. We told the mortgage company we were an engaged couple to get the mortgage. This was in 1972 we stayed till 1978 when I moved out and bought with my actual boyfriend. My friend stayed in the house and I happily signed over my share of the house to him.

pascal30 Thu 08-Dec-22 11:49:15

I was 23 and hubby 34,we bought a 3 bedroom detached house in Southampton for £8.000

62Granny Thu 08-Dec-22 11:50:35

I was 19 & DH 22 the house we bought had no real kitchen just a sink and a bit of work top and an old heavy green safe , apparently the previous owners had something to with a local building society so we did wonder if it came from there , my DH fitted a new kitchen and the safe was rescued by my brother who wanted it for his business, we got married the following year but didn't live in it till after we married. We didn't move till 40 years later.

Chardy Thu 08-Dec-22 11:53:31

We'd been married nearly a year, both 28, borrowed most of the deposit from mum who worked for a bank and got a cheap loan, lovely one-bed bungalow.

sodapop Thu 08-Dec-22 11:54:46

We were both 22 and our first house cost £1,500. It was a two bedroom terrace house which needed quite a bit of work.

ginny Thu 08-Dec-22 11:55:02

I was 21, DH 23. A new 3 bed semi, £11.000 in 1975. We had it for a year before we married but did move it until after our wedding.
Had very little furniture and most of what we did have was was had me downs.

Juno56 Thu 08-Dec-22 11:56:17

I was 20 with my then fiance (not DH). The relationship broke down between then and exchange of contracts. I of course wanted to withdraw from the purchase but ex fiance really wanted the house and on paper wouldn't be able to afford it on his own. Actually he could as most of his work was cash in hand not declared to Inland Revenue or mortgage lender 😲. I agreed to go ahead, with hindsight a very risky thing to do on both our parts😕. A year later he rearranged his finances, remortgaged and my name was removed from the title deeds. I believe he sold it a couple of years later and made quite a large profit. My friends thought I should have agreed a payment from him but I reasoned that I hadn't contributed any money so shouldn't benefit financially from the messy situation. My first 'proper' mortgage was at 24 with DH.

Yammy Thu 08-Dec-22 11:57:41

Both of us were 28, we had rented flats as we moved around the country with DH's job . It was a 3 bedroomed semi on a newish Estate with no amenities. I was 4 months pregnant and our first chairs were two garden chairs loaned by a colleague from work.
Our car was the "tank", as we called it a basic ford escort military green which we bought with the money I had saved whilst living at home and working until DH finished his degrees.

Sofa Thu 08-Dec-22 11:58:14

I was 26 and my husband 26 as well. As we were both teachers we had the mortgage on both salaries. We arranged the deposit and any costs as an overdraft. I think we were probably very lucky.

Damdee Thu 08-Dec-22 12:05:47

I was 18 and my boyfriend, later my husband, was 22. He was the son of a builder which was fortunate as the house had no mains drainage, no bathroom. It was built in 1733. I don't live there now and haven't done for 40 years. Funnily enough, I was on a walk with a friend a couple of weeks ago and I said I'll show you where I used to live. We peeped in the gate and the owner was at the door - I said 'I used to live here' and he said come in so we did. He said we might walk around, so we went everywhere but he didn't come with us. He just carried on stirring a saucepan in the kitchen. Didn't even ask my name. A surreal experience.

Silvergirl Thu 08-Dec-22 12:10:19

I was 27, husband 29. Built house ourselves. Strategy was that if we could not keep up payments, we would sell and start again. Luckily didn’t have to but it was tough at times.

Grandma70s Thu 08-Dec-22 12:13:25

I’m amazed how young many of you were. I was still in education when some of you were getting mortgages!

Georgesgran Thu 08-Dec-22 12:56:19

We were 21 and both working two jobs, but the building society only took DH’s salary into consideration and the offer was three and an half times that. We spent 10 years in our first house, a new build Barrett three bed link detached which was £5750 plus an additional £500 to buy the freehold.

annsixty Thu 08-Dec-22 12:58:56

My H was 25 and I was 24, we had been married for 3 years.
We had been saving very hard.
We bought a new semi when it was just foundations.
It cost£2250 and we paid a deposit of £250.
We were able to mostly furnish it.
The only thing we had on HP was our lovely teak dining room furniture.
We lived there for about 5 years but property wasn’t going up so much then and we sold in 1966 for £3800.
Our mortgage payments were about £15 a month.
How very lucky we were then.

Sardinia2020 Thu 08-Dec-22 13:01:16

I was 21, my fiancé (now DH) was 24. It was a 3 bedroomed detached house which I adored. Feel so sorry for young people these days.

paddyann54 Thu 08-Dec-22 13:06:56

28 we'd been really lucky to get a brand new council house with garage when we got married.We stayed there until our business was more established and our daughter wa starting school .We bought a 2 bed flat in the centre of town near our workplace and the school.
We only stayed there for 18 months and it more than doubled its value .We then bought a chalet bungalow again brand new in a quarter acre , made a profit of more than we'd paid in 5 years when we moved to the house we're in now ,OH bought it from plan when out for a training run for a marathon ,came home for his checkbook and did the deal.
We've sold it 3 times and each time lost the house we had hoped to move to so here we'll stay.