What are the effects of debt on your life?

I have a 35-year mortgage for my home, along with responsibilities for my family and children. I hate my job, and the current job market feels bleak. The thought of carrying this debt for 35 years weighs on me, even invading my sleep. Sometimes, I wish I had chosen to rent instead of buying property. I often reminisce about the days when I was debt-free and unburdened by responsibilities. Back then, life seemed full of possibilities. Now, it feels like I’m merely existing to pay off debt rather than truly living.

Does anyone else feel this way? How do you cope with it? Any advice or shared experiences would mean a lot.

Edit: My mortgage is for a 2-bedroom flat in London (£750k). I would have regretted it less if it were a house.

I am the sole earner (~150k/y) living with my wife and a new born baby. Service charges is about 7000/y, council tax 2450/y. Mortgage is 1500/m.

Edit 2: the equity is about 200k