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Original poster

Roughly what percentage of your income goes on your mortgage?

116 replies

AffIt · 28/03/2023 17:25

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?

OP posts:
Floofyduffypuddy · 28/03/2023 19:27

How do you work it out.

Rounding up to 4 grand income, mortgage is about 240 pm what's the %

Clusterfunk · 28/03/2023 19:29

About 40%. South East.

Lcb123 · 28/03/2023 19:29

30%, that’s the max I’d personally want to have

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FrownedUpon · 28/03/2023 19:33

15%

StonePie · 28/03/2023 19:33

Ours is just over 30% but our income is £6k-ish and our childcare costs will go down later this year. I was really worried about it when we took it on as it’s more than double what we were paying on our previous house. But so far it’s fine.

TheMilkWhisperer · 28/03/2023 19:35

0% now we’ve paid it off … was 30%. If you’re asking what’s reasonable, well it depends on your stage of life. Paying for nursery was like having a second mortgage!

Mangomingo · 28/03/2023 19:36

Slightly less than 25%

specialklady · 28/03/2023 19:39

23% I haven't read other responses but my guess is most people (unless coming to the end of their mortgage) will pay a similar amount since the lenders won't give them out willy nilly..

KissesTasteLikeWhiskey · 28/03/2023 19:39

Floofyduffypuddy · 28/03/2023 19:27

How do you work it out.

Rounding up to 4 grand income, mortgage is about 240 pm what's the %

240/4000 x 100 = 6%

Floofyduffypuddy · 28/03/2023 19:40

! /Thanks

TheIsaacs · 28/03/2023 19:42

25% of our joint income. We live in an expensive area and made a conscious decision to go for a house comfortable but not excessive.

mrshenny · 28/03/2023 19:42

17% single income

KissesTasteLikeWhiskey · 28/03/2023 19:42

Floofyduffypuddy · 28/03/2023 19:40

! /Thanks

😊 6% is fab!

FlippyFloppyShoe · 28/03/2023 19:43

About 40% single parent.

Hollyhead · 28/03/2023 19:44

10%, but saving an additional 35% per month so we can clear in full at the end of this deal

Anotherturnipforthebooks · 28/03/2023 19:47

Ours is around 18% but we overpay and probably spend close to 30% at the moment.

slamfightbrightlight · 28/03/2023 19:50

Less than 10 but we will need to borrow a fair bit to go work on it which will bump that up significantly

PlantKi1ler · 28/03/2023 19:50

Currently 11% on a fixed mortgage. But my income has increased a bit since taking out the mortgage, originally it was about 16%.

Epli · 28/03/2023 19:51

Should be 24% but we overpay so ~32%.

Loraloralaughs · 28/03/2023 20:05

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FiddleLeaf · 28/03/2023 20:07

24% but we’re currently on a v.low rate. I’m not looking forward to remortgaging 😪

Lilybetsey · 28/03/2023 20:11

22% mortgage alone then another 10% on council tax / fuel bills / water bill etc

ChocSaltyBalls · 28/03/2023 20:13

DrMarciaFieldstone · 28/03/2023 17:39

14%

House was originally bought on one salary.

Also 14%, not when bought but when remortgaged 2 years ago was just on my salary as husband was furloughed.

HobnobsChoice · 28/03/2023 20:16

About 25%. We moved in January and have a 3 year fixed. We used to pay about 18% but then the same again on childcare so were used to that amount being gone.

DarkDarkNight · 28/03/2023 20:18

Around 25%, single parent so I’m a one income household.