Active discussions

Please or to access all these features

Talk
AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To think we CAN live on the mortgage

743 replies

JaneEyre40 · 28/05/2025 09:34

Advice please -

Couple - Earn £10,500 a month
Mortgage - 3,700 a month
Nursery - 1,000 a month

Considering all other possible outgoings, do you think we can afford this and not feel pressured each month. What am I not considering? We've done the spreadsheet but I'm still unsure.

We will have about £65,000 in savings at the beginning of this venture.

Thanks in advance. House of a lifetime.

OP posts:
AlorsTimeForWine · 28/05/2025 12:30

JaneEyre40 · 28/05/2025 12:29

Thank you. I think a sit down and research on the increase in bills is key. We are also going from a 2 bed flat to a house.

Show quote history

In that case you'll likely be in for a shock 😅
We certainly were but are used to it now.
Our water is over £100pm in the flat it was about £15-20

minnienono · 28/05/2025 12:29

I would recommend writing down a complete list of your outgoings that you expect each month and add £500 for extra household expenses, you won’t spend these each month but set aside for the inevitable

Original poster
JaneEyre40 · 28/05/2025 12:29

Hwi · 28/05/2025 12:29

Why so sarky?

Show quote history

The post made her happy for a moment I suppose.

OP posts:
Lancasterel · 28/05/2025 12:29

We have slightly less coming in monthly and a mortgage of 2.2K. I wouldn’t want it to be any more!
The one thing I would say is that a bigger/more expensive house = bigger running costs! Our council tax is over £400/month, gas and elec are high (it’s a 60s house!) and mature garden has trees etc which need professionally lopping sometimes! Obviously this all adds up.

Original poster
JaneEyre40 · 28/05/2025 12:29

AlorsTimeForWine · 28/05/2025 12:27

We don't have any work to do on the house thankfully.

What i would say is we thought this too when we moved but still ended up spending around 500-800 pm for the first 6-8m.

Annual maintenance does cost us around 3-6k per year .. generally the upper end of that.

Our gas/electric is a good £300 too.

We moved from a 2 bed flat and the increase in bills was what caught me out a bit. Insurance went up drastically so did water and gas/ electric . Our bills are about 1k pm

Edited

Thank you. I think a sit down and research on the increase in bills is key. We are also going from a 2 bed flat to a house.

OP posts:
Hwi · 28/05/2025 12:29

BMW6 · 28/05/2025 09:36

Ooh I think you'd be wise to both get evening jobs - shelf stacking perhaps?

Why so sarky?

madaboutpurple · 28/05/2025 12:28

I agree with some other posters ,but instead of a tent ,buy a caravan set it up in the garden and rent or sell your house ,then you will survive. Sorry Op I am joking. I would like to be on your salaries.

Riaanna · 28/05/2025 12:28

JaneEyre40 · 28/05/2025 12:27

That's it isn't it, you never know when the boiler packs in for example. My job is public sector and safe, DH private sector but pretty specialized so hopefully safe.

Show quote history

This is not the place ever for financial advice.

boredoflaundry · 28/05/2025 12:28

@JaneEyre40 look at income protection insurance! For health and other options.

if you don’t touch your savings and one of you loses your job, you’ve still got more than 10 months in the bank.

look at your bank statements. Yes it’ll be sobering.
when you’re in the new house, spend some time enjoying it! Rather than being out spending.
have been on toast and whack £100+ in your savings on a Saturday night!!

it doesn’t sound like you make much of a conscious effort to manage your money, do. Even if you’re the type that likes to spend … spend it into a savings account.

you’ll be AMAZED what you can tuck away.

your council tax sounds REALLY cheap! … I guess that’s because London live on top of each other, so plenty paying it.
See if you can work out your other household bills too and put together a proper budget.

£150 a week for food should be plenty if you cook.

There loads of money to spare if you think about it rather than just spending it.

Original poster
JaneEyre40 · 28/05/2025 12:27

Didimum · 28/05/2025 12:26

Principality. We've always used a mortgage broker, but you can sometimes get better deals going direct.

What another poster above brings up is also important to consider – if you both earn similar then the loss of one job is even more impactful. I'd consider the safety of your current jobs and also the ease at which you'd find another. It can seem like an unlikely scenario, but it can and does happen when we least expect it.

Do you foresee having to use your savings for anything at all? With us, the cost of the house work is the absolute leading issue.

Show quote history

That's it isn't it, you never know when the boiler packs in for example. My job is public sector and safe, DH private sector but pretty specialized so hopefully safe.

OP posts:
Riaanna · 28/05/2025 12:27

minnienono · 28/05/2025 12:26

As you have incredibly high incomes, your money after mortgage and nursery is higher than most people’s take home. Unless you have huge debts or money management issues you are fine

It’s not incredibly high.

Riaanna · 28/05/2025 12:27

Sapana · 28/05/2025 12:19

@bluesinthenight chatgpt is not a substitute for fucking human interaction.
Why should she ask chatgpt? You don't have to answer or even look. If you weren't so keen on outsourcing your brain to an algorithm maybe you'd be less deskilled, more successful, and not feel compelled to post bitter little takedowns of people who dare to have money. I will never in my lifetime earn anywhere near what OP's family have but slagging her off won't change that.

When it comes to advice of this nature chatgpt is absolutely a preferable source over mumsnet. A slug would be an improvement.

AlorsTimeForWine · 28/05/2025 12:27

We don't have any work to do on the house thankfully.

What i would say is we thought this too when we moved but still ended up spending around 500-800 pm for the first 6-8m.

Annual maintenance does cost us around 3-6k per year .. generally the upper end of that.

Our gas/electric is a good £300 too.

We moved from a 2 bed flat and the increase in bills was what caught me out a bit. Insurance went up drastically so did water and gas/ electric . Our bills are about 1k pm

minnienono · 28/05/2025 12:26

As you have incredibly high incomes, your money after mortgage and nursery is higher than most people’s take home. Unless you have huge debts or money management issues you are fine

Didimum · 28/05/2025 12:26

JaneEyre40 · 28/05/2025 12:21

Thank you. I'm completely ignoring any comments without advice (why do these people waste their time).

We don't have any work to do on the house thankfully. We don't intend on any holidays for a few years bar Ireland to see family.

Can I ask who your lender is for the remortgage?

Show quote history

Principality. We've always used a mortgage broker, but you can sometimes get better deals going direct.

What another poster above brings up is also important to consider – if you both earn similar then the loss of one job is even more impactful. I'd consider the safety of your current jobs and also the ease at which you'd find another. It can seem like an unlikely scenario, but it can and does happen when we least expect it.

Do you foresee having to use your savings for anything at all? With us, the cost of the house work is the absolute leading issue.

Noodlehen · 28/05/2025 12:25

Chaaachaaaa · 28/05/2025 12:21

I'm quite surprised Council tax is so low with an expensive mortgage/ house of a lifetime? If you're worried about health problems etc get private medical and income protection if you haven't already and it makes you feel better? We bought a bigger house and suddenly cleaning it became THE issue (especially if you have 4/5 bathrooms). So I'd factor in a cleaner approx £250 a month. Your bills on a bigger house may well be much bigger ( 2 x 1998 houses, 2nd one double the size and bills approx 3 x bigger). Also, big house you do end up hosting more and so that's another expense.

Council tax could be in Wandsworth ? Some of the cheapest CT rates in the country, with band H being only £2000.

Original poster
JaneEyre40 · 28/05/2025 12:25

IDontHateRainbows · 28/05/2025 12:24

I would say your arse is being handed to you on a plate, but unfortunately I don't think I can find the silver platter.

Show quote history

If I actually gave a shit....

OP posts:
Summerlovin24 · 28/05/2025 12:24

Thedogscollar · 28/05/2025 09:56

How to not read the room🙄

Seriously if you are finding this difficult to work out then I'm struggling to see how you have the brainpower to earn and deserve these wages.

This
I wouldn't have the nerve to post this originally
Unbelievable lack of awareness of real life and real salaries and real struggles with money
I hate when well off people say they worked hard for it.. Many many people work hard but don't have the salary to match.
My mum said this once about my brother as i had got back from the shop putting milk on my credit card. I had a massive go at her explaining how hard I worked but it happened to be in an industry different to his which is why I wasn't well off

Original poster
JaneEyre40 · 28/05/2025 12:24

bigblockofcheeseday · 28/05/2025 12:21

How is the net salary 10,500 when both salaries add up to 9,400 as per your OP? Do you also have bonus / commission / other income? That 1k extra can make a lot of difference!
If it is your dream house, go for it as it's your home!

Edited
Show quote history

Thank you! And yes apologies it's approx based on bonuses (DH)

OP posts:
IDontHateRainbows · 28/05/2025 12:24

JaneEyre40 · 28/05/2025 12:13

Sorry?

Show quote history

I would say your arse is being handed to you on a plate, but unfortunately I don't think I can find the silver platter.

Original poster
JaneEyre40 · 28/05/2025 12:23

minmoo2 · 28/05/2025 12:22

Of course you can afford it. I earn £4300 a month have a £2200 mortgage and £600 childcare fees a month, obviously bills and outgoings too. My mortgage doubled because of interest rates so went from £1100 to £2200 so beat that in mind. It’s a struggle outgoings wise for me now whereas it wasn’t before…if I was part of a two income household it wouldn’t be an issue at all!

Show quote history

Well done and sorry your mortgage went up so much! When I lived alone in a flat I was in a similar position, I guess that's why I'm wary.

OP posts:
Original poster
JaneEyre40 · 28/05/2025 12:22

Sapana · 28/05/2025 12:19

@bluesinthenight chatgpt is not a substitute for fucking human interaction.
Why should she ask chatgpt? You don't have to answer or even look. If you weren't so keen on outsourcing your brain to an algorithm maybe you'd be less deskilled, more successful, and not feel compelled to post bitter little takedowns of people who dare to have money. I will never in my lifetime earn anywhere near what OP's family have but slagging her off won't change that.

Thank you. It's also interesting that people can insult based on money so easily without a thought for people's health or personal issues they may have.

OP posts:
minmoo2 · 28/05/2025 12:22

JaneEyre40 · 28/05/2025 09:34

Advice please -

Couple - Earn £10,500 a month
Mortgage - 3,700 a month
Nursery - 1,000 a month

Considering all other possible outgoings, do you think we can afford this and not feel pressured each month. What am I not considering? We've done the spreadsheet but I'm still unsure.

We will have about £65,000 in savings at the beginning of this venture.

Thanks in advance. House of a lifetime.

Of course you can afford it. I earn £4300 a month have a £2200 mortgage and £600 childcare fees a month, obviously bills and outgoings too. My mortgage doubled because of interest rates so went from £1100 to £2200 so beat that in mind. It’s a struggle outgoings wise for me now whereas it wasn’t before…if I was part of a two income household it wouldn’t be an issue at all!

Didimum · 28/05/2025 12:22

AllyCart · 28/05/2025 12:19

@Didimum

Hi, OP. Ignore the angry mumsnetters

Just how far up your own arse do you have to be to post on a thread telling OP to ignore other people's opinions and listen to yours instead.

Because they are being wholly unpleasant, sarcastic and bullying.

bigblockofcheeseday · 28/05/2025 12:21

JaneEyre40 · 28/05/2025 12:12

Yes exactly, we put down a deposit of about £300,000. We thought putting more money into the deposit was better than holding back savings.

1 child that's it.

State school 100%

Salary 1 - 4,200 monthly net
Salary 2 - 5,200 monthly net

Large house but not old. Council tax is 230 monthly.

Show quote history

How is the net salary 10,500 when both salaries add up to 9,400 as per your OP? Do you also have bonus / commission / other income? That 1k extra can make a lot of difference!
If it is your dream house, go for it as it's your home!