Roughly what percentage of your income goes on your mortgage?

[AffIt]

We're looking at buying and just curious what % of your combined monthly income after tax (assuming you're a joint-income household) you use to furnish your mortgage?

I'm assuming about 30%, does that sound right?

Until recently it was 19% of net income but been caught by the interest rate rise so it's closer to 30% now 😑

Solo parent. 25% of income after tax, however fixed rate ends soon so this will shoot up. Plus I'm a leaseholder and pay service charge and ground rent on top of mortgage.

15% but we have had both had promotions since taking out the mortgage a few years ago so it was a higher percentage. And we do overpay a bit too (not as much as I would like but we have 4 children so there's always other stuff they need!)

30%. Live alone, cheapish city, very modest house, pretty modest wage (low by MN standards). It's not easy. Luckily I fixed for five years not long before the rates started to rise.

I suppose percentages are relative to income. 30% of 3000 is a bigger deal than 30% of 6000.

We’re also thinking of buying in the next year, the cheapest house we can find to suit our needs will be about 28% of our joint income (which is just under 4k). I feel a bit sick at the thought! That’s over 35yrs too. Does anyone know if this is doable? We haven’t had kids yet so I’m worried we’d have zero quality of life if so much of our income was on a mortgage plus I’d never have the ability to reduce working hours by much. Alternatively we stay renting at 600pcm… thoughts??

23% but fixed for five years last year when interest rates were still really low....no idea what it would be if we did it now

20% not including dividends as they aren't guaranteed. We went on the very cautious side of what the bank were willing to offer us.

33% and I've not long remortgaged. Single income home. It's doable. But paying everything from one income is getting more and more difficult.

22%. Used to be 21% including an overpayment, but then Liz Truss came along… 😡

About 10% which includes us overpaying

Close to 50% when we took out the mortgage. I was 40, he was much older, when we finally decided to move in together. We focussed on paying it off in ten years and chose a mortgage provider who would facilitate this.

We have now had over twelve years at 0% and have been able to do lots of things we would not otherwise have been able to afford.

13% of net income

15% and we are currently overpaying.

Sole income household here (I'm a SAHM) and it's 33%. Mortgage and gas/electric is 50% of DHs take home pay ☹️

Snap @TheCelt sole income here I'm a SAHM and it's getting harder each month ☹️

Nearly a third of our take home but we bought our first place a bit later than most (41) and went for somewhere a bit bigger than we strictly ‘need’. We don’t have kids though so our other outgoings are lower than most of our friends due to that so it feels manageable.

10% ... single parent so only income

I'm curious how old people are/were when the mortgage was paid off...

Single parent, 25% and try to overpay a little where ever I can. I’d love to be mortgage free in my early 50’s so any spare I have goes to the mortgage

15% and we have managed to keep it around the same amount in £ despite moving up the ladder, our net income has also gone up so the % has dropped. We were at around 25% as first time buyers.

Now we have childcare costs of 30% which feels terrible given we’ve been fairly frugal in every other part of our life!

11%, but we pay another 5% in property tax (not UK). We don’t overpay because we have a 2.2% interest rate on a 30 year fix.

31%

16%. It was 25% when we first bought the house though.

About 20% on 2 mortgages.

15% and fixed until 2025 (fixed in 2021)