Also didn't really think about that. By chance it might work out. Might hit 75 on remortgage. But certainly wasn't planned.
Nobody does. Awareness seems rather poor about it especially when people ask others for advice.
With rates being so low I plan to actually go against the grain and do the following.
Release equity (I only have 40% LTV so going to go back up to 60% whilst borrowing is so low)
Extend my term from 16 years to 35. This will make my monthly payments ridiculously low.
Use the equity release to do multiple projects which will increase the size of the home, usable space and value.
Use the money saved on monthly payments to invest into stocks, shares, commodities, etc.
I'd like to be in the position in 10 years time I can go straight out and buy my next home cash or close to that as possible thanks to the investments working for me. So the equity, term, etc doesn't really matter to me as I'm in the lowest band now thanks to both overpayments and increase in value over the last 4 and a half years. I've went from 80% LTV to 40% LTV in 4.5 years. My original plan was to keep on overpaying and be mortgage free within 15 years of the original purchase however decided it's better to gamble and aim much higher.