Anyone aged 20 living at home. How much rent do you pay?

[TW]Fox;12978670 said:
Surely most people have paid their mortgage off by the time the kids are leaving?
Click to expand...

My mother hasn't, as she's just had to re-mortgage the house as my father decided to go off with some other thing.
 
Jonnycoupe said:
I wont have. My lad is 2 and a half and I dont even have a mortgage :D

EDIT: Thought you meant retire.... most wont have paid off mortgages by time the kids reach 18-22.
Click to expand...

In the future, no - you wont, and I dare say I wont either, but we are talking about people who took out mortgages in the 80's - things were different then and people bought earlier and less people spent time renting. Therefore I still think most people of the age where children are now leaving home are close to or have already paid off the mortgage.
 
I imagine a lot upsized when the kids were young though, ie from the 2 bed flats to 3 bed houses and the new mortgages were 25year. Although with the prices paid, say 20years ago, overpayments and shorter term mortgages were pretty accessable.
 
Jonnycoupe said:
Cos their current mortgage is due to run until AFTER they retire maybe? So living in a smaller house they fully own is far more appealing. Few quid? LOL.
Click to expand...

Basing it on my example, as my parents will finish paying off their mortgage in about 3-5 years. There are so many computations that I haven't even considered, too busy trying to be busy at work whilst multi-tasking with OcUK :D

They might do after they retire, but my grandparents might have to move in depending on what happens over the next few years, with grandad getting very old at 92 now, and even he can't go on forever the stubborn pole :D
 
Hang on, we've got an OcUK guest...

jerryspringerqn9.jpg




"So..so Jonnycoupe, you're saying his missus has a bucket?"
 
Last edited:
You must log in or register to reply here.
Back
Top Bottom