To think we CAN live on the mortgage

It’s not a stupid question. If that income is gross rather than net then quite possibly they can’t afford the house.

OP I would ask:
What’s your joint net income per month

How much of that is variable (bonuses etc) vs fixed?

Are you paying enough into your pension and could you still do that with the mortgage?

How secure are your jobs? If one of you were to lose your job how easy would it be to find another?

What happens if interest rates go up by 2% by the time you refinance the mortgage? Could you still comfortable pay it?

What will running costs be on the new house?

Are you planning on private school when your child is a bit bigger? If so how much will that be? Would you be willing to sacrifice this for the house?

Given your relatively low level of savings relative to your income, it sounds like you’re currently spending most of what comes in. What sacrifices would you have to make to pay this mortgage and are you ok with that?

We have insurance for this scenario as it worries me as well as we are 50/50

I think you're being unreasonable to post this.

We take home after tax about £7k and our mortgage is £2.5k and we can afford it. We earn the same money. We put £2k each from our salary into the main pot for bills/food/repairs/holiday savings etc and keep what’s left over for ourselves.

I can usually save £250pm for myself (I would like it to be more and it’s my aim) but I would like to save more jointly too, DP and I really could be more frugal on our outgoings. We have been doing a lot of DIY recently so once that has calmed down I want to get back to saving or overpaying the mortgage.

I’m not going to complain about money, it really is what you do with it that counts - we can’t have new cars, expensive hols and the house so we have cheaper/older cars and go on cheaper holidays and that’s ok with us. I want to overpay our mortgage but think that might be a year or 2 down the line after our DIY plans.

I find cars on finance to be the biggest burden in this situation as they are SO expensive so I got a very cheap PCP deal a couple years ago, then shopped around for a very low interest loan for the balloon payment and kept the car

It'd be cheating if their housekeeper did it.

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.

If she can’t give basic stuff people need to answer her question then what’s the point? She says here ‘what am I not considering’ without telling us what she is considering.

@JaneEyre40 are you going to tell us more info or not?

Should be ok if you cancel Netflix.

Is that also a daft goady post. Probably.

So that’s the same as our income and we would definitely not be ok with it based on the fact that our income is 50/50 and if either lost their job we’d* be screwed. Is it the same for you? Also other outgoings obviously. Our mortgage is around 1000 and other bills around the same and that is as big a risk as we would take.*

Bingo, I knew there would be at least one!! 😆

I often wonder how such obviously stupid people secure such high-paying jobs.

It’s just a daft goady boast. I’m not saying that out of envy either as my household income exceeds OPs

🤔😆

if she doesn’t have the sense to list those then what sort of reply does she want?

Er, posts asking for more detail as opposed to ones telling her she's tone deaf etc. Plus i've seen similar vague posts with lower incomes but that's ok presumably.

Of course they can ask, but it’s a fairly pointless thing to ask when what the couple in question need to do is review their own outgoings, agree between themselves which of those outgoings are essential and which are nice-to-haves which could be cut if the need arose, and establish their comfort level for savings based on their own circumstances i.e. people who do contracting work in insecure or flighty industries and know they may have lean times with no pay are going to be more conservative than people in secure industries who know they’re unlikely to be made redundant or would get a decent payout if they were. The OP included none of that sort of information so just looks either daft or goady asking.

So you have even more money than the OP?

Greatest respect, but do you really need to ask. Your utility bills maybe higher than ours assuming you've got a larger house than us and you have an extra mouth(s) to feed but two of us easily live on £2k a month (admittedly this is mortgage free).

If you save all your 1ps in a tin they soon add up.

So that’s the same as our income and we would definitely not be ok with it based on the fact that our income is 50/50 and if either lost their job we’d be screwed. Is it the same for you?

Also other outgoings obviously. Our mortgage is around 1000 and other bills around the same and that is as big a risk as we would take.

If you need to ask on that income I would say no you can't afford it.

Why should the OP not ask the question because people are struggling?

OP literally wrote ‘considering all other possible outgoings’ without stating what they are. Gas, electric, car, credit cards, loans, avocado on toast habits, Starbucks seven times a day, if she doesn’t have the sense to list those then what sort of reply does she want?

Its almost as if she doesn’t want help, she just wants us to know her wage.

Just be aware (I’m sure you are) but big house = big bills and expense to maintain… we were overly optimistic I think…

Gosh what nasty nasty comments. Why is it that people feel they can make such comments. If you don’t like the post just scroll by

op depends if that’s net or gross, and what your other expenses will be if you go ahead so gas/elec council tax etc. plus what happens if one of you loses your job, will you get insurance cover? Can you manage in one salary? Will you want private school idc etc etc

Not exactly possible to say, you havnt mentioned any other necessary outgoings.

If you can't survive on £5,800 a month there is no hope for you.

You could sell courses in How To Read The Room and Humble Bragging. I believe you would be successful

I hope your jobs do not need maths