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I paid off my mortgage before I retired. I wouldn’t take out another one

I’ve recently upped my payments as I can pay 10% extra over the course of a year without being penalised. It will mean that our mortgage is paid off a few years earlier which will be fantastic if we can keep it up.

Am happily mortgage-free and plan to stay that way!

Taking out a mortgage to buy a property in retirement might be risky but if house prices go up and interest rates stay low then you’d be pretty, pretty pleased with yourself.

Paying off our mortgage in our fifties enabled us to save for retirement. The thought of having another mortgage in retirement is an absolute nightmare

Looking forward to paying our mortgage off as soon as we can, whilst we are in our early 50's. It will be such a huge relief to pay it off!

Can’t wait to pay our mortgage off in our 50’s. Wouldn’t want to take another one out and certainly not into retirement.

Our pension will be spent on enjoying ourselves, holidays etc.

I've never considered a mortgage.

As I’ve got older I’ve come to the conclusion that a mortgage is a means to keep the rich richer and the poor poorer and us in the middle the ones who pay the most. If I had my time again I wouldn’t have one. I would rent or save as much as I could while living at home. I would be satisfied with an adequate sized house to keep the family in and I’d not strive to keep getting a bigger and bigger house as it only gets taken off you in some way or other and all you’ve worked and payed into is never yours. What’s the point

We worked hard to pay off our mortgage in our fifties and I would not wish to take on another in retirement. It is a great feeling to know you own your own home and have no debt. Times are rapidly changing though and it is a good thing that a mortgage can be offered to people who wish to take advantage in their twilight years for whatever reason.

We took our first mortgage out when I was 18 yrs and our second when I was 22 and we moved to a larger house. Through hard work and sacrifices my husband and I chose to overpaid on our mortgage after changing from an endowment mortgage to a repayment. We also kept the endowment policy. When the endowment policy matured we used our savings to pay the rest of the monies we owed. It has enabled us to help both our children with monetary gifts so they too can own their own homes. We have lived the last 15 years rent/mortgage free so when we do retire our monthly outgoings will be manageable.

I wouldn't want to burden myself with a mortgage at my time of life.

I always overpaid the mortgage (at times only by £10 a month. It's now gone and I love the security I feel and knowing that I could paint the whole house purple with green spots and replace the carpets with astroturf and no one could say a thing. I don't think (extreme circumstances excepted) that I'd go for a mortgage in retirement.

We have almost paid off our mortgage and want our kids to finish school before we move. We don't want to stay in this house forever so really want to move but as we can't do it now we will have to take out a mortgage later in life, but do worry that the interest rates will be higher.

As a single person living in London I'm resigned to the fact I will never be able to get on the property ladder even though I could easily afford repayments. Single people will never be able to get a mortgage unless they earn a fortune

I overpaid on my mortgage whenever I.could so paid it off 5 years early. It was a wonderful feeling.

Both the wife and myself are retired and our only income at the moment is from company pensions. I've often thought of buying another property and renting it out but I'm wary of approaching anyone to ask for a mortgage in case they laugh us out of their office! I'd love to know whether companies do actually consider retirees for 'buy to let' mortgages.

We just finished our mortgage before my husband retired. But my daughter has her mortgage for a 35 year term being in her own, as ours was for 25 years but we moved a few times so used the "house miponey" so ended up borrowing a bit more each time again on a new mortgage. We have friends who are well into retirement who rent out 2 flats who have a mortgage at an older age of being in their mid 70's.

It is an interesting idea and it will suit some people depending on their circumstances. I personally intend to pay off the mortgage as I approach my retirement

A mortgage in retirement shouldn't particularly be a worry. Income from a pension is no different to income from employment and probably, it is even more reliable. The real question is affordability. The mortgage lending industry (with the government) has failed for years to solve the problem of "mortgage prisoners" where lenders refuse to give cheaper mortgages to those already managing higher payments due to "responsible lending" rules. I no longer trust the industry to be fair with borrowers and would never take a mortgage again.

I would hate to be in the position of needing a mortgage in retirement. Having lived mortgage free for 15 years now, I would rather downsize to raise funds if needed.

It's the one big thing that I'm desperate to clear as soon as possible. Once that's out of the way then it's my house and no one can take it away is my view and will pave the way to my retirement I hope.

We have paid off our mortgage and I felt great about it. It’s fabulous not to be carrying the weight of owing money. I would never have another mortgage.

Had a few mortgages over the years, including the infamous endowment and 15% interest ones and am now thankfully mortgage free, however, I have a private pension, so a guaranteed income and would consider taking out a fixed rate mortgage in the future to improve my property or release some money for the grandchildren. Equity release has always concerned me (my mother did this and there was nothing left at the end), but a mortgage gives back the control and if you want to pay it off or downsize later, you can.

I would not want to have a mortgage at that age. I am working hard to pay it off so I have more disposable income when I am older. If I need more money I will downsize