I retired at 52 and paid my mortgage off at 55. It was a huge weight off my shoulders and made a big difference to my monthly outgoings.

I was working at the time with people desperate to retire or down shift careers but they had families so could not do this until their late sixties. They seemed to be people on their second marriages who had kids in their forties.

Good luck to those of you still at the coal face if you get lucky and have some money pay off your mortgage it will do wonders for your mental health.

One more point

Just paid my mortgage off by downsizing to flat as didn’t need 3 bed house good move I reckon Still have buy to let in Croydon with 70 g mortgage left but probably worth 250g . 60 this year so hopefully retirement soon, and season ticket in palace new stand .

I'm aspiring to follow a similar path to Tom The Eagle above having set up my own property company last year.

I have no mortgage of my own having sold my place and thrown the money into the company. The long term plan is to retire by the time i'm 55 and live off of the rental income.

Re AQ2's point about paying of your mortgage early if you can; I couldnt agree more. This video is a great example as to the potential we all have to pay off our mortgages within 10years if we have the discipline to do so. forget that its a US example; teh principles are still the same. [Link]

The Voice of Reason In An Otherwise Mediocre World

Early 40's.
Own a 3 bed house mortgage free.. rent it out.

Own a one bed flat, mortgage free... live in it

I buy houses, renovate them and sell them on.
I'm halfway through a job £110k mortgate on it... will hopefully sell for 290k.
Although that £180k profit sounds good... I will have to use some of that for deposit on next job.

I may sound normal

Early 40s, have no mortgage (on rent) and have no intention for a mortgage in coming years. It is simply not feasible to buy the house i rent and i don’t want to downgrade myself f just to own house. However, i am considering to go for 1 bedroom flat mortgage for investment but that sounds stressful as well.

This is a bit usual result of being newbie in UK when you live in London where prices are crazy.

Edited by blackheatheagle (01 Mar 2019 6.25am)

I thought the same , plus nowhere near £180 grand profit. Mortgage payments, stamp duty (if above the threshold), estate agent fees , labour/material costs , solicitors fees, CGT.
Also in this market , people aren’t getting what they’d expect for their properties.
Good luck to the poster. But he would have needed 100% mortgage, with no deposit and no costs to be making a 180 profit.