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AIBU?

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Original poster

To think we can manage this mortgage

127 replies

Whistlere · 19/04/2025 17:23

House: 490k
Mortgage: 290k - 5 yr fixed at 3.86%
Net pay: 3400 per month
Mortgage monthly repayment: 1500

Savings: 90k
ISA stocks and shares: £60k

Looking to overpay the mortgage by 10% a year.

Early 40s with 2 kids in primary school.

I know it’s not sensible but I think it’s manageable, although I am worried what will happen if one of us loses their job.

OP posts:
Bjorkdidit · 19/04/2025 17:30

Would you actually qualify for a mortgage that size?

£3400 suggests you earn around £50k, so nearly 6 times joint income.

How about putting most of the £90k at the start and taking out a smaller mortgage.

GrazeConcern · 19/04/2025 17:26

I think it’s ok - presumably if the shit hit the fan you’d use your savings to pay half your mortgage off and lower the payment?

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