To think we CAN live on the mortgage

Read the thread, the extra is her husband’s bonus. Why so snarky?

Ummm…. try that sum again.

If you’d read even just the OP’s posts you’d see that she’s addressed that.

And presumably your kid’s salary makes up the difference? Because if you think that adds up to £10,500 pcm you should not be in charge of any financial decisions.

These threads only ever seem to be made by Londoners

Well surely that just goes to prove that London is expensive. "Real world" is such a dismissive faux teenager term to use too.

You're just picking part of my post to jump on.

I went on to say "Maybe no concept it a bit harsh, but to have that amount of money and to be discussing such a massive purchase/commitment, wouldn't you want to have a better grasp of what's what."

havent read the thread
how many years mortgage.
yes you can afford now but if interest rates go up I imagine you have a big loan.

Disappointed. I thought this thread was going to be about how we can live on the moon.

Of course you can live on such a huge income 🙄🙄🙄

If those issues were so important to the question you’d have put them in the OP.

Wow. Why are people being so shitty on this thread? Two high earners (and as such pay large amounts of tax) asking for advice from people in a similar situation are the subject of ridicule and vitriol. Just sums it up really.
FWIW OP our household earnings are v similar but our mortgage is a bit less (but we do overpay). I think we would be comfortable at that level but not much more. Larger houses are certainly more expensive to run and I imagine you want to be able to enjoy life as well.
Private school fees are certainly something to consider as I think we have all but ruled it out at primary (tho we have 2) for being too costly.
I say go for it if it’s your forever home. Good luck!!

I think you’re just looking for excuses to have a go tbh.

Someone mentions stoppages as something which might be relevant, not massively out there to ask what that means really is it.

I mean, it can just even be that she’s doubling her mortgage and so eg left with £2k less each month than previously.

If the base take home is £9.5k, then they’re looking at c. 40% of their net pay, which is quite high and higher than generally recommended.

I’d be worried about a mortgage of this size, even if month-to-month you had money left over… you also need to think about the sustainability of it over the longer term.

I have no idea what stoppages means either, it’s not a commonly used term IMO.

So, if you've asked a question and someone asks you for information but you don't understand one of the terms, why not just look it up - you know show some initiative and be proactive. Look up what it means and be able to reply with an answer, rather than another question. It was just a single word, not a whole concept that needs explaining.

So not stating if it’s net or gross in the OP makes her ‘have no concept of finances? Really?

Sounds like you’re just looking for excuses to have a go at her tbh.

But apart from houses, I don’t understand how? The 6 grand is left AFTER the big mortgage and childcare, so why is London so much more expensive for everything else?

ETA: These threads only ever seem to be made by Londoners.

No, what I said was....

asking for financial advice and not stating whether she was talking about net or gross salary.

Haven’t read the whole thread. Many people are jarred by your post because it’s clear you CAN live on the mortgage easily if you want to, just by doing some simple maths. You’re posting on a public forum where the vast majority of users can only hope and pray to reach the sort of income that you are listing, and manage to pay rent/mortgage/etc of similar amounts. And that’s not because they aren’t working their arses off! l

To say you have a stressful job … irrelevant, so do I and I earn a fraction. My mortgage is less by comparison but it takes 30% of our household income. Nursery fees, same amount as you. I think it stings people when so many are struggling on so little, not because they haven’t worked hard, but because costs of things are extortionate and most wages don’t match simple living at the moment.

You need to budget and look properly at your outgoings as it is completely subjective, if you post on here know and expect to be judged unfortunately. ‘Not feel pressured’ stings to people too, I know damn well that I cannot afford a broken boiler or car, my savings are minimal and most months we dip into them. I feel pressured every month! Not sure if you know that feeling?

It irks me when I think about those who have minimal/no savings and who are getting by, getting on, without the luxury of a huge savings pot to dip into. It’s real life and lots of people have no idea what it is like to struggle financially.

If you've already made a spreadsheet with all other expenses, how much would you be left with each month?
Personally I wouldn't do this as we prefer to have more disposable income to buy whatever we like/have nice holidays but if the dream house is more important to you then go for it.

‘The rest of your points are boring and not relevant’ is the response of a ten year old.

Mortgage advisors don’t know the answer to this question, as they aren’t the ones living on this income. All they might be able to add is ‘I have / have not seen other people do this’. They find mortgages for you, they don’t provide budgeting advice.

As for the bank approving it… again, that doesn’t mean much. Plenty of people end up defaulting, losing their job etc.

OP is looking for people in a similar situation to her, to know how they find living with a mortgage of X size, compared to Y income, in Z location.

You wouldn’t lose your rag at someone on an average wage asking the question, so why OP? Where do we draw the line at which people may no longer seek financial advice from their peers?

Our income is slightly less at €7000
Here’s how ours is not taking into account the child benefit of €280
I sorted everything into categories.
i know we earn euros (as we’re in Ireland l, but these days it’s much of a muchness to be honest)
We have slightly more savings at about 90k

Housing
Mortgage: €1900
Utilities
Electricity €200
Waste collection: €30
Broadband & TV: €70
Mobile phones x3: €60
Total Utilities: €360
Food & Groceries
Groceries & household food: €600
Dining out / takeaways: €200
Transportation
Fuel: €250
Car insurance & tax: €150
Maintenance & NCT: €100
Public transport / Parking: €20
Total Transport: €520
Education & Kids
School books, uniforms, fees: €50
Activities, sports, clubs: €50
Pocket money / treats: €50
Total Kids & Education: €150
Entertainment & Lifestyle
Family outings, hobbies, gifts: €200
Subscriptions, books, etc.: €60
Total Entertainment: €260
Savings & Miscellaneous
Emergency fund / Savings: €1,400
Holidays (monthly allocation): €300
Clothing: €130
Miscellaneous buffer: €180
Total Savings & Misc.: €2,010
TOTAL MONTHLY SPENDING: €7,000

London is the real world. In fact, the income generated there props up the rest of the country via tax. (And no, I don’t live in London).

. I'm minted me. 😎