Mortgage repayments and take home pay

[SpecialHandsMummy]

AIBU to ask you what proportion of your household take home pay goes on your monthly mortgage?

1/6 but overpay to a 1/3 because some of it is interest free

OP, percentage of income isn't relevant anymore- it's all about affordability.

If like wanderingcloud you have huge childcare costs, 30% on a mortgage wouldn't be deemed affordable.

Remember- it's not what you think/ know you can afford- it's what the lenders computer tells you is affordable that counts.

Have a play around with the mainstream lenders on line calculators to get a feel for what you would be able to borrow based on your specific circumstances.

We're moving and the new mortgage will be the most it's ever been, at 40%.
Hopefully only for a short time though, as we're buying before we've sold the current house. We wouldn't go for such a high percentage normally, always considered 1/3 to be the max.

It was about £90k a year in interest at one point - never marry a man who earns less and divorce him, the pay outs are huge.

30% couldn't really comfortably afford it to be anymore.

1/5.

2.5% but it will finish completely next year hooray

Its a quarter, thats the formula I reckon housing should cost if you want enough left to live on without worry but I do envy friends with nicer homes who've stretched.

10.5 percent for the mortgage.

0%. Cleared it couple of years ago with an inheritance.

When I worked full time, it was 25%. Now part time, it's 50% of my wages.

It's 25% of DH's. We pay half each currently but that will probably change if we have DC2.

The mortgage itself is probably 25-30% of our joint income. We never wanted to be slaves to the mortgage and this means we're not. Bills etc are prob another 30-40% but some of those I would consider 'luxuries' e.g. having nearly the full Virgin media package is a privilege, not a must!

1/3 of my take home pay.

24%

It would be 10% but we overpay so actually 25%. But in 4 years time it will be 0!!!

50% goes on my mortgage. 40% on childminder fees and the remaining 10% on bills. Some months I make a loss which I have to make up with savings. I'm a single parent.

25% but currently pregnant with pfb so joint income is about to go down!

About 5%, our mortgage is low and finishes in a couple of years rather than our income being high

Mortgage is about 1/8 of take home pay at the moment, although we're paying a low tax rate because we paid too much earlier in the year. I suppose about 1/7 in a normal month.

OTOH our property tax (equivalent of council tax) is almost as much as our mortgage...

25%

11%

We have a very small mortgage and luckily live in the Midlands.

20% of our joint income. Although that'll change dramatically once I go onto maternity leave.

1/3

1/3