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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask you how much your mortgage repayments are each month.

181 replies

UterusUterusGhali · 08/09/2011 20:48

I probably am. Terribly vulgar etc etc, but I've been looking into it and I'd be paying £140000 ish per month. (We rent atm. Would need a 3 bed)

This sounds a lot. Is it?

OP posts:
MrsCog · 08/09/2011 21:01

I don't think it's rude or nosy on an anonymous forum where there is no compulsion to reply.

poolet · 08/09/2011 21:01

£620 a month. Short term mortgage, only 8 years left.

KittyFane · 08/09/2011 21:01

Mistress Envy

Original poster
UterusUterusGhali · 08/09/2011 21:02

Argh, we're doomed to rent, aren't we?

OP posts:
Changebagsandgladrags · 08/09/2011 21:03

£1400

tyler80 · 08/09/2011 21:03

470 quid a month, we have a higher income than you, 1400 a month sounds huge to me.

Monthly income of 2500ish doesn't get you a 280,000 pound house without a huge deposit surely?

jellybeans208 · 08/09/2011 21:05

Recently come off a fixed rate and its gone down loads. Only 355 a month and place is worth about 125000. Really pleased at the minute as both only 27 and its cheap and now looks like we can work our way up

AAAvegetable · 08/09/2011 21:05

£1550 But thats about 25% of our monthly income and even so it's really hard. Think carefully.

Witchofthenorth · 08/09/2011 21:06

Had to move to interest only as seriously short of cash just now, financially we are in a real shit pit! We pay £164 per month. When I move it back to capital and interest it will probably be around £450 if interest rates stay the same.

MitchiestInge · 08/09/2011 21:06

£100

you do get what you pay for

acatcalledfelix · 08/09/2011 21:07

When I was full time I earned more than £25000 and didn't bring home much more than £1400, so that seems like a massive payment to me. Have you added on all the other essentials, council tax, utilities etc?

We're lucky and don't have a mortgage at the moment but will again next year when we buy a bigger place. It terrifies me!

ShellyBoobs · 08/09/2011 21:10

Not much at all for us: about £200 on our family home and about £450 on a house in France that we've had for quite a while.

With the current base rate it makes no sense to pay off the mortgage on the family home, even though we only owe about £35k on it.

I feel very lucky when I see what some are paying.

FreudianSlipper · 08/09/2011 21:10

£750

i dread an increase in interest rates. i am moving, renting mine out at a profit but then have to pay my ground rent and agents fees so will have maybe £100 to put aside should rate go up. and the rent i shall pay will be higher but a nicer area and need to be closer to my mum and the ex

ILookLikeAToad · 08/09/2011 21:10

2500 and it hurts. A lot. We both earn a decent wage but it is still a monthly struggle.

bringinghomethebacon · 08/09/2011 21:12

This reply has been deleted

Message withdrawn at poster's request.

Whorulestheroost · 08/09/2011 21:12

1200 and I think that's a hell of a lot but I love my house! :)

wannabefree · 08/09/2011 21:16

mandy are you sure that's not a typo? You bought 30 years ago and you've still got 40-odd grand to pay off and you're only paying £165 a month? What is it...a 100 year mortgage or something? Shock

BaronessOrczy · 08/09/2011 21:16

Mortgage is 205k, house is worth 250kish

Up until March we were on interest only at 1,172pm, when we bit the bullet and went onto repayments at 1350pm. In December when our fixed period ends it will go back down to 1,100pm even though that will be capital repayment too.

We'll probably carry on paying it at the current rate to overpay it a bit and make up for being on interest only for 5 years. And we'll try to get a deal to fix it at that for the foreseeable future.

And my pound sign appears to have gone AWOL, which is most definitely BU. I apologise.

wannabefree · 08/09/2011 21:18

My mortgage repayments are about a fifth of my salary, but I'm overpaying so they take up a third while interest rates are ridiculously low.

KittyFane · 08/09/2011 21:24

Wannabe- Mandy's sounds right with low interest rates. we had a 30.000 in 1996 and paid £230 with high interest rate.

Original poster
UterusUterusGhali · 08/09/2011 21:49

We wouldn't be able to get fixed rate.

I need a better job.Smile

OP posts:
Original poster
UterusUterusGhali · 08/09/2011 21:54

Actually, I think that's bollocks. We could get fixed for a while. I don't know what I'm talking about.

OP posts:
milkysmum · 08/09/2011 21:58

About £560 per month. £95k left on the mortagage, house worth about £130k. 3 bed semi in Lancashire (aware that down south £130k would buy you bugger all!) We have a joint income of about £45k per year.

EsmeWeatherwax · 08/09/2011 22:01

£500 per month, income between 1.5k and 2.5k per month. Really tight in the lower paid months, spend the more lucrative months trying to save for the poorer ones, so wouldn't want it to be much higher. Maybe when I go back to work we'll take on more, but that won't be for a while yet...

tralalala · 08/09/2011 22:02

£435 for a £92, 000 mortagage.

We chose to live in the less desirble but still OK area, really glad we did. I love it around here now. And though money isnt excactly flowing with 4

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