Let’s talk mortgages with Marsden Building Society - £100 voucher to be won

Have never had a mortgage but as a first time buyer I'll obviously need one at some point

I'm too scared to take out a mortgage in later life, be worried about health issues getting in the way and not being able to fulfill the contract and leave us homeless etc., and wouldn't want to burden the children.

I didn't realise that there were Building societies that offered mortgages to the over 55s. Although now mortgage free myself I have a friend whose circumstances have changed and she is using her half of a divorce settlement to try and buy a small flat. She has welcomed being able to take out a small mortgage despite her age.

We do not have too long left until our mortgage is paid off. It will be lovely to be mortgage free. We would not want a mortgage when we retire. Thank you x

Have just paid off my mortgage in the last year, and love the feeling of freedom.

However as I get a bit older, if I needed more money than anticipated (for example for repairs to the house), I would consider taking a small mortgage.

I'm not really sure why someone would start a mortgage in retirement unless it's a re-mortgage. Being as we now have to work longer, retirement seems so far off but thankfully my mortgage is already paid off which means the pressure is off

We still have a mortgage but thankfully it should be paid off well before our retirement. House prices seem so unaffordable to young first time buyers I can see that we may need to take out a further mortgage in retirement to give our children a helping hand onto the property ladder. Alternatively, we would consider a further mortgage in retirement to invest in another property as a holiday home for us and the family to use. I would not be too fearful about a mortgage in retirement if interest rates stay as low as they are now, but if they are set to rise following the recession, then it may become unaffordable. It is useful to know that there are companies out there who are offering the option of mortgages to retirees as the traditional lenders seem to shy away from anyone over 60!

I am currently in the process of remortgaging my house because I am getting a far better deal than my current mortgage. I was a bit worried about still paying into retirement but even on a pension its still affordable.

I have had 1 mortgage in my life, having rented before that. We were able to settle the mortgage by moving from Kent to South West Wales, where property was cheaper. It was a great feeling!

I would not want a mortgage now I have retired, it makes no sense to me. I would not want the worry of the bank owning part of my home.

Have recently become mortgage free and it is a lovely feeling. Wouldn't want to take out another mortgage at my time of life.

I can appreciate that some people will be glad of the opportunity to take out a new mortgage in their later years, due to their personal circumstances, so it’s reassuring to know that the option is there.

For me though, the day we paid off our mortgage was a red letter day, and it was a great feeling to know that there’d be more cash each month available for other things. I certainly wouldn’t choose to take on more financial commitments at this stage if I don’t have to.

I paid off the mortgage when we retired. We could have done with keeping the lump sum however it is a decision we have not regretted particularly during these uncertain times where our 'top up' income from post retirement part time work has completely stopped. I don't envy our children with their huge mortgages but they really have no other choice.

Having waited many years to pay off our mortgage the thought of taking out another has no appeal. I hope that I will have many years of being mortgage free and that when I die there will be some money left over for my children to pay a sum off of their mortgage.

We are close to paying off our mortgage but would like to move which would mean increasing it. It's a dilemma in these times and with our circumstances.

I like the idea of being able to continue a mortgage past 60, in particular the freedom to remortgage if you are still working. When I last remortgaged I wasn't allowed a term past my 60th birthday despite having no intention of retiring that early. Having said that, I'd be very reluctant to take on new borrowing once I have retired, particularly having got used to being debt free.

We paid off our mortgage a few years ago now - what a lovely feeling that was! We would perhaps consider taking out a retirement mortgage if we needed to move house or needed extra cash especially as rates are so low

I was brought up to believe if I couldn't pay for something outright then I would have to save until I could. Now 72 it has stood me in good stead. The only exception was a mortgage and although at times it was hard we managed by overpaying when we could to pay it off in 20 years rather than 25. Oh the relief that I no longer owed anybody anything was tremendous and still makes me feel good nearly 30 years later.

We paid ours off early by switching to a one account mortgage and throwing all our savings and salary excess at the end of the month at it.
Glad we did as it took the pressure off me returning to work after cancer treatment. It's also allowed my husband to work part time.
I'd hate to have a mortgage in retirement

paid ours off and it gave us so much freedom - best thing ever!

I feel very sorry for young couples today as they struggle to save a deposit to buy a home while also paying high rents on a home that will never be theirs. We married in 1977 and secured a 100% mortgage from our local council of all places to buy a modest terrace house and get our feet on that all important first rung of the property ladder. If only 100% mortgages could be made available again it would really help first time buyers many of whom pay far more in rent that they would mortgage repayments on a similar property. To prevent abuse and problems make it a condition that the availability of a 100% mortgage would not solely depend upon the earnings amount but also that those applying have paid rent without default for two years and for a sum that is around equal or less than the proposed monthly mortgage repayment.

We still have 5 years to go on our mortgage and can't wait until it's paid. I'll be 60 and my husband 65 so I don't if we will ever take out another.

I wouldn't want a mortage in retirement, but for couples that separate later on in life, it might be really useful to have that option.

Managed to pay mine off early by making overpayments. It would have been financially better to put the extra in a savings account at that time, but psychologically it was better to pay it off early.

I would rather have mine paid off ahead of reitrement, so I can retire worry free and without an additional large expense