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Plan your budget with mortgage payments included for the next 25 years and not just for now or a few years down the line.

We had a mortgage, but have now paid it off and must admit I can't believe, even after over a year, that we own the house and grounds. Its not always been easy ensuring the monthly payments were made but we did it. I would personally never take another mortgage on in later life as the stress can be enormous and pensions are becoming less. I retired early from a job that I had worked at for over 40 years, my husband continues to work, so without the mortgage we are so much better off and both feel that we won't like to go back to having one.

We paid our mortgage off in 10 years by overpaying every month (15 years ago).
I couldn't have the burden of a mortgage now - would rather downsize.

I struggled financially for years as a single parent, and once the children left home I was determined to get rid of mortgage debt. so I continued to live frugally and overpaid. I retired on a modest pensio at 60 once the mortgage was paid off. I wouldn't want the financial commitment of another.

I paid off my mortgage last year and would not take on another one. My state retirement is in just over 2 years and would not be able to afford any extra borrowing. Very happy to be free of the monthly repayment!

We paid off our mortgage, moved to the country and bought our new home outright. Best feeling in the world! But it's also comforting to know we have the option of equity release if we ever need it – it certainly made my late father's last few years a lot more comfortable.

I think in general with rates as low as they are, there is a risk that people think they stay this low and, therefore, do not plan for later should they move up quickly.

Since property became a commodity rather than a home, people have leveraged themselves to the limit to buy houses over a 25+ year period. Sorry but that level of leverage over that time period is to high risk for me! I’ve been waiting for the property market to become rational again, unfortunately governments and devolved administrations have spent the past 20 years propping up house prices, soon I wont have the working life left to buy a house.

We had a Mortgage to buy our Council house 3 bed semi.

Those days you got a discount,the mortgage was from the council it was so simple in those days, didn't even need a deposit im sure.

I would like to move to a bungalow but wouldn't take on any financial burden now.

I paid off my mortgage in my 30s. i find the thought of a mortgage in retirement scary and alarming. But it depends on the individual - If you have sufficient savings or income go for it. Mortgage rates are very low at the moment. However, what happens if your needs change and you need to go into a home? I think income and savings in retirement are for spending.

I'm nearly 60 and would love to retire soon but 8 more years of mortgage to pay means that's not going to happen. At least eventually I won't have to worry about finding rent or mortgage though, so it'll be worthwhile if I'm still fit and well...

So lucky,we used my husband's redundancy payment to pay off our mortgage over 30 years ago.Amazing feeling.

A few years ago I decided to increase my mortgage payments, so I was paying as much as I could afford each month. I am retired on health grounds, though not yet drawing my State Pension, and wanted to shorten the term of my mortgage. I just didn't want it hanging round my neck for a moment longer than necessary.

Not something I would be interested in

No, I don't want the stress and worry of mortgage payments as a pensioner

I took out a late in life mortgage when I was 54, it was for 18 years and planned to pay off early as I have regularly paid extra, mostly the maximum allowed, for a couple of years. However, covid put paid to that as I was not eligible for furlough. I am now back at work and once straight will start paying more again to hopefully pay off by age 70 instead of 72. I can't wait as I will be able to live comfortably once it is paid off.

Despite having 2 properties worth in excess of £650k , we asked for a remortgage of £40k from YBS , they advertised a senior citizens mortgage , they seemed very reluctant , and it took ages to get it approved and then would only approve a seven year loan. We can easily afford it, it was so frustrating

I think they are good in general as they give people the opportunity to own homes. It's a great relief when they are paid off though.

Interest rates are low and we are still paying off a mortgage. We are happy just to be homeowners and not house poor slaving away to pay as much of the mortgage off.

Shop around. There's a host of website with excellent advice and links to the best deals.

I think mortgages are essential for anyone wanting to buy a house, but would want to pay it off long before retirement. The thought of having a mortgage in retirement is not something I would consider.

I paid off my mortgage some years ago, massive relief to know I owned it. I wouldn’t risk taking out a mortgage now as I would never be able to afford to retire in the small pension that I have

I wouldn't want to take out a mortgage in retirement unless it was a very small one. I don't like the thought of owing money to anyone without the means to earn.

We have been researching mortgages lately. We are both over 70 and we may need to move in the not too distant future. Our house is mortgage free and we may need about £50,000 in a mortgage for a house in a better area. From our investigation so far, it's not looking feasible due to our ages.

When the company I worked for went into receivership our mortgage felt like an enormous debt hanging over us although I had never seen it like that before. I used some of my redundancy pay to settle it and becoming mortgage free was one of the best days of my life. I would not consider another one.