Am I the only one on gransnet still working & paying a mortgage?

We miscalculated when we bought our house and later realised that the mortgage would still have a year to run after DH retired. I retired at 60 to look after GS1 but everything was fine until DH became ill and couldn't work. Fortunately we got a lot of help from McMillan who pointed out that our insurance would cover us for a year's mortgage repayments and then suggested we changed to an interest only mortgage which gave us time to save for the capital we needed to pay off. Left to our own devices we would probably have gone into a total panic and lost the house.

Didn't retire until I was 74 (loved my job) but happily mortgage cleared. Just as well because council tax is having a fair attempt at replacing it.

I paid a mortgage until I was 65, because of divorce; I have a friend. who is committed to paying hers until she is 70

DH worked till he was 71 - full time!

Well done you Kandinsky it will be worth your extra slog

That’s what I tell myself!
And I’m sure it will be. 🤞

Fleurpepper

Glad those days are over for us. I do wonder how our ACs will manage, and how long they will have to work!!!

It will be fine, as it ever was.

I'm coming up to 62, still work fulltime. No mortgage but can't afford to retire yet, but don't intend to work past 63 even if it means I struggle financially. DH is 64 & runs own business, not thinking of retiring yet.I do get very tired, and because a lot of my contemporaries & my younger sibling have already retired, like you I feel ready to retire now if only I could.I think any higher than 67 for state pension is not fair on those who are fortunate enough to still be fit enough to work (& alive) at this age. Even if it's not physical work, it still takes it out of you when you get past 60 & have been working for the past 43 years & bringing up a family etc at the same time.Not so easy juggling work with family responsibilies / the home / DIY any longer.

Still working full time (I'm 61), we have a mortgage on a rental property, but could sell it if needed. I plan to retire in a year, so trying to build up savings.

Well done you Kandinsky it will be worth your extra slog.
I retired at 60 but have very reduced income so with hindsight maybe I would have kept working it was just that I always wanted to stop at 60. (I was worn out frankly).

I will reire this month. I have just my 66th birthday, I have no mortgage, I have paid off the car as well.
I live in the South East, I have a smallish house, so cannot down size, if I moved out further away from London I could maybe get a larger house but there is no point.
I am not wealthy but due to paying of my mortgage and car I will be OK with state and occ pen.

I am older than you.
Still working- mortgage just over.

Glad those days are over for us. I do wonder how our ACs will manage, and how long they will have to work!!!

Thanks everyone.

& Same here GagaJo no state pension until 67.

Still working. Still got a mortgage. No pension until 67. 😫😫😫

No but I wish I did. Such a waste of my education. But it’s a catch 22. If I worked, I would lose the alimony from my husband. And, due to a slip of my solicitor’s pen, the alimony wasn’t inflation-proofed. Never mind, I’m not complaining.

DH is coming up to 80. he still works, on and off, and we took out an interest-only mortgage 2 years ago to pay for an extension that added mor value to our house than the mortgage iself. This will be repaid when we sell the house and have little effect on our capacity to buy another house as it is quite small.

My sister in Australia is 65 and still works as does her OH who is 68.

Is an equity release a possible solution, for you?

We did look into this a couple of years ago but decided against it.

I’m nearly 70 still working part time. I live with my family and contribute to a mortgage as part of shared bills.

I was working full time up until I was 64. I like my job and intend to continue working part time for a long time yet. I don’t think your situation is unusual. Personally I would be bored if I didn’t work

I’m 63/ divorced/ moved out of London to ensure I didn’t have a mortgage. I work part time(working this weekend!)as the house I purchased is in need of TLC.
Trying to save a bit each month…..

I was working when I was 60 and so were many of my friends. Some still with mortgages. I don't think it's unusual at all. Not in the circles I move in anyway

Still working at 68 but no mortgage.
Divorce, no pension plan and no desire to be poor in old age keeps me going.

I was working at 60 with a mortgage and putting two sons through university.
I still work part time at 67 but no mortgage now.

Kandinsky

Obviously a lovely long weekend off, but back to work on Tuesday. At 60 I feel I should be retired but I’ve got a mortgage until I’m 65. I could downsize but I really don’t want to as I love my home.
No real point to this thread but just interested if anyone else is in similar circumstances?

Is an equity release a possible solution, for you?

My friend has, both her and her DH in early 60's.
Job front for her DH was dodgy few years ago, only way for them was to remortgage.
They moved a year ago to pay a chunk off existing mortgage and make this one more manageable.