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

Believe no-one. They state assumptions as facts and really don't care if it all goes wrong. Your home is a PRIORITY so don't gamble it away (interest-only mortgages) or sell it off cheap (equity release). Do your own homework and better to do nothing than act quickly. A prudent accountant speaking.

I could't afford a mortgage on my part time wages now and it's hard to work full time due to arthritis in my knees. I don't think I'll ever own my own home.

I have to admit that I would be very cautious about taking out a mortgage in retirement. And at the moment I think it would be as a last resort.

In normal circumstances I would not take out a mortgage at my age. However I appreciate that sometimes there are circumstances in life the require a flexible approach and solution so can understand why some people may like to have the option.

I'm mortgage free and it is a feeling of freedom, I don't have to worry about how I'm going to pay the monthly payments.

I hate mortgages. so stressful. No way I would want one in retirement. Too much stress. Bad health and trying to work to pay it. No thanks.

I paid off my mortgage as soon as I could. The monthly cost of a mortgage is one of the biggest burdens on you finances, and being free of this burden is a great feeling and does wonders for the finances

I really wouldn't want a mortgage in my 50s

We paid our off with the help of an offset bank account. Such a relief. I worry about being eligible for future loans due to age.

I aim to pay my mortgage off in the next 10 years or so. All depends on finances too. I’d love to retire without it ❤️

It was always our goal to have our mortgage paid off going into retirement and we worked to make this happen. We've never been 'loan people' and always treated the mortgage as a debt to be paid as soon as possible.

Paying off my mortgage is something that seems a long way off for me - but at the moment I am just happy to have one, would hate to ever go back to renting.

I have a mortgage and looking at the interest I will pay over the term of the mortgage is shocking! I would not want to take a mortgage out in retirement as I would not want to worry about the monthly payments. If I have spent all my life trying to pay it off, why then extend that? I would also like the equity to be in the house for my children so that they are left with a chunk of money to help make their lives easier.

I am still paying a mortgage and I am counting the months till it finishes cannot wait to be free.

We are still paying off our mortgage however payments and interest rate are very low. I dont see an alternative to having a mortgage, the private rental sector charges extortionate rents and I dont see why I would work all my days to pay someone else's mortgage for them! at least we will be able to pass on our home to our children.

we had a mortgage free home, which for a younger family was amazing, as we got older it seemed a waste to have so much money ties up in a building, the girls were doing well and the twins would always be ok lol, we decided to sell and relocate to a more rural setting and out of choice rented. It left us relatively well off with money to do the things we always wanted to do as we got older

I want to pay my mortgage off as soon as I can. I dream if the day the mortgage is paid off. I wouldn’t want a mortgage when I retire however no one can predict circumstances at any time and for some it’s not an option to be mortgage free.

Our mortgage was paid in full several years ago, it gives us security, and freedom to spend on other things.

In our retirement, we wouldn't consider taking out another mortgage. It would be too costly considering our income is now lower than when we were both working.

Mortgages are swings and roundabouts, these days it must be so hard to get deposit / onto ladder, i think in later years, money worrys should be least of your problems, after spending 20s/30s/40/50s stressing, it's always an option, though for me low rates and short terms would be a must.

I paid off my mortgage early and saved a lot on interest. For me flexibility was extremely important to be able to over or under pay without penalty. I would not be comfortable with taking out a mortgage once retired.

I currently rent due to circumstances but worry about my children being able to secure mortgages and have their own homes, I think as time goes on and house prices rise more people will rent or take out mortgages later in life, especially with those working long past retirement.

I am lucky enough to have paid my mortgage just before falling ill with certain conditions that prevent me from working. However, I think in future we will be working until we drop the way thing are going so a later life mortgage will be more acceptable!

When I divorced the ex no one was interested in lending me anything. No idea why I have an excellent credit score and paid off my mortgage at 40. I had no option but take out equity release as I had no intention of moving. He moved into a house that had no mortgage and had been extended and modernised with savings so it was a sore point. I paid him off and once he was gone I financed the updating of my very large conservatory and renewed the double glazing etc. I'm overpaying the equity release as I'd like to leave my kids the maximum I can and have no intention of letting the equity release company have my house. I thought I had an average pension but who knows, I manage very well and a mortgage wouldn't bother me as I'm paying the equity release anyway and save a substantial amount every month as I've always got a project in mind and projects cost. I love keeping my house in tip top condition and happily spend my savings doing so.

When we bought this house we were moving to a more expensive area close to London so in order for it to be affordable we had to go for a long term which would finish when I am almost 80! Our intention was that once settled I would get a job (having been a stay at home mum) and we would pay it off quicker. Unfortunately 6 months down the line my H started an affair and is now my ex! I managed to keep the house after the divorce and paid off quite a lot with an inheritance from my mum so the mortgage is affordable - just - but still goes on 'til I'm nearly 80!
I'm due to retire soon and will then begin the long process of de-cluttering in order to downsize and become mortgage free. The thought of still paying a mortgage in my dotage fills me with horror but I guess some people don't have the option to do anything else.

I took out a 30 year mortgage when I was 35 but I have been overpaying as much as I can afford each month to bring it down. I'm hoping to have it paid off by the time I am 50. I dread the thought of still paying it when I am almost retired. I would rather use that money to live comfortably when I do retire.