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My first mortgage would have already been repaid. I aimed to retire aged 50.Subsequent bad luck saw me virtually restart from scratch when we were in our 40s. So we're stuck with a mortgage for several years, right up until our retirement date. But as the retirement age keeps going up we may get a few months mortgage free retirement.

with interest rates so low at the moment a mortgage is the best an excellent way to invest in a property. when I purchased my first home interest rates were at 18.5%. I no longer have a mortgage and own my home outright, I would advise anyone that is thinking about buying a property go for it at least you will have something to show for it at the end and not just wasted money. The mortgage will probably cost you less than rent!

I think it’s good to have the option to take out a mortgage when you are older, if you have the income to repay but are short of a lump sum, and have previously paid off your mortgage. Some companies were, and still are, prejudiced against retired borrowers, even although they may have a secure income.

There are some interest only lifetime deals, which seem to me much better than some dodgy equity release schemes. My elderly mother took a mortgage loan to finance a new conservatory, with low interest, and has since voluntarily paid off some of the capital, which wasn’t huge, and only pays a small amount of interest each month. If there is any money outstanding it will be paid off when she dies. The amount does not increase.

She has had a lot of pleasure out of something which she would have struggled to finance otherwise.

I could not take out a mortgage in later life because due to severely reduced income I could not afford to pay it off.

I'll be looking at taking one out in a few years.

We paid off our mortgage before we retired so we will always have a roof over our head. However I am very aware that not everyone is able to do that

I'm currently saving up to buy my home from the council.It turns out a mortgage would be cheaper than my rent!

After years of paying off a mortgage, I wonder why I bothered, I should have rented and spent the money on holidays as in the future it will probably be sold off without my consent for care.

We have an interest only mortgage, which runs until 2024. We have no means to pay off the outstanding amount.

So, we will either have to sell and move into rented accommodation or consider a "lifetime" mortgage.

I just want to stay in this house forever, have no desire to leave anything to my son, as he inherited a fortune from my mother, while I got nothing.

I've never had a mortgage - I'd rather save to buy the property in full, although that would be quite hard!

Schemes that allow me to update & adapt my house to avoid a care home situation would interest me. Perhaps this would be useful but would need careful reading comparing to loans & equity release.

What are your thoughts on mortgages generally?
Mortgages are essential if you want to choose your own property and location but it is vital to obtain good advice before committing.

If you’ve paid yours off how did that make you feel?
I paid my mortgage off when I got divorced and sold the house. After that I rented for a while until I found a new house to purchase outright without a mortgage.
I hated renting and the stress that goes with it.
I’m now living in my second property that I have purchased without a mortgage and it really takes the stress away from needing to find mortgage payments every month.

Would you consider taking out a mortgage in retirement?
Absolutely not, no.

What would your reasons be? If you’d never consider it, what would stop you?
It’s stressful because as you get older you might get ill and be unable to make the payments.

My thoughts on mortgages generally is that they are a stressful episode of trying to survive in an ever changing economy. Having said that we saw it as number one priority to buy what we could afford and so we bought with the idea of not going anywhere near the top end of what mortgage companies said we could. Sticking firmly to our decision meant that we were happily able to be mortgage free as early as possible. The idea of considering taking out a mortgage in retirement fills me with dread so not something I would easily decide to do, the reason being we did all we could to live well within our means all our lives so it would feel quite depressing to end up with a mortgage after all our efforts. In response to your question 'If you’d never consider it, what would stop you?' my response is ??????? .

Having and then paying off a mortgage was a very down and up experience for me. Downs included suddenly soaring interest rates at just the wrong time (baby on the way) and mis-sold but uncompensated (because bought ‘too early’) endowment mortgage. Ups are all the happy results for us of inflation in house prices though I’d much rather we had good housing policies and supportive mortgages that give everyone a realistic hope of managing their long term needs.

Paid my mortgage off a couple of years ago and was so relived, like a weight off my shoulders as I didn’t want to have a mortgage in retirement, try and pay off early if you can .

I can't imagine why we would want one - if circumstances change then we will cut back or if necessary downsize our house

I would aim to have my mortgage paid off for my retirement as I wouldnt want to extra financial pressure. I would like more security in retirement so that is my goal ideally.

We paid off our mortgage and it is a huge relief not to have that commitment now that we both have lesser paid jobs. When we were younger, if interest rates were at the level they are now it would probably have meant we could have moved to a bigger house.

Paid off mortgage with some of my retirement lumpsum. No reason to have another mortgage, even buy to let.

We still have a substantial mortgage, but we're a few years away from retiring. I really want to be able to over pay it in order to pay it off a bit early, but we can't afford to. I do worry about having a mortgage as we get older, I certainly don't want to have a mortgage once we're retired.

I was lucky enough to pay mine off long before I retired so on my income I know that I can enjoy my life the idea of having to take out a mortgage at 70 would fill me with dread and I think have a negative impact on my mental health knowing that I couldn't now afford to do all those things I had worked forty years to do and see.

I wouldn’t take out a mortgage now. I doubt I would be given one. My pension is hardly enough to live on so I wouldn’t be able to afford the repayments.

Just paid off our mortgage with my retirement lump sum, wouldn't want to start again

I had my first mortgage when I was 20 years old. 5 years later I was disabled & had to move into a rented medically adapted home.
I am now 49 & am finally in a position where I have a substantial deposit & will be applying for a mortgage to buy the medically adapted home that I live in

It was definitely a celebration when we paid off our mortgage. I wouldn’t want a mortgage now, unless I was desperate (though I doubt I’d be eligible), as I hate debt of any kind.