Mortgage repayments and take home pay

[SpecialHandsMummy]

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

0%- Few tough years paying it off.

Currently 50% as DH is unemployed. But (hurrah!) he starts a new job on 11th November and it'll go down to about 20% then.

It was 14% until we took 10 years off the term of the mortgage, which brought the payments up to 20% of what we have each month.

It's was about 25% of the money that I bring in every month on my own, and now it's about 1/3 of that (but we share it, obviously).

1/3 after childcare vouchers come off. I lived in a cheap area.

0%, paid it off this summer.

Our mortgage is 15% of our joint take home pay, £1,000 a month. I'm pushing for us to buy a my big period dream house but DP loves our lifestyle so he's not having it.

25% of joint income on mortgage; another 25% on childcare.

Monthly income 5.5k mortgage £450

25%, that's of my sole income as single parent, would be much less if resident partner earning similar, but then probably wouldn't fit in tiny house... Like pp, childcare was more than double mortgage until youngest started school this year! I do pay an extra largish % compared to mortgage on house insurance as very old terrace so rebuild costs would be massive, that whacks it up to maybe 33% of total post-tax pay.

I think the % I pay is about reasonable, but it's based on a large % deposit (sale of former marital home which increased stupidly in value) and being in a relatively cheap area in a house which is really not quite big enough for 2 kids + adult (kids share room, still just about fit but when youngest needs desk for homework they won't. I can see why people in pricey areas struggle to buy tbh, though I think some of it is also people being snobby about areas (I've always lived in areas that work colleagues look squinty at, they are usually fine).

24% of what I earn (sole income as dh made redundant and now back in college)

As others have said, the % of income is irrelevant. If your take home pay is £20k per month and your mortgage is £10k, that means you have a high level of disposable income, despite having your mortgage taking 50% of your income. Whereas if your income is £2k and your mortgage is £650 (33ish%) you may struggle!

£3700 joint per month after tax, mortgage £540 so about 15%

No more then a third of income should be on rent /mortgage

Anther third on bills

And then a third for saving/going out/holidays /food etc

I did this but only as daddy blondes is a bank manager and told ME too. No point struggling to pay mortgage each month etc by over stretching

1/6 here but also paying my brother back who lent us some of the deposit so more like 2/6 but we finishing paying back DB next year and will be mortgage free in 7-8 years our first house and only moved in just over a year ago. We got a bargain but the house needs some major works we are not high earners just happened to be in the right place at the right time and of course my lovely DB.

10%

55% of my take home salary. Although because I get CTC, housing benefit and CHB, it goes down to 41% of my overall money. Still a lot though, eek!

Hard to say for us. I don't work and DH is paid monthly salary of about £3K plus quarterly commission of around £10K. Our mortgage is around £200-£250 a month (mortgage is for just under £200K and we have equity of about £250K), but that's interest only. We have an amazing deal on our mortgage whereby we pay 0.4% above base rate for the life of the mortgage and can overpay lump sums whenever we like of however much we like. This suits us very well as it means that we can pay DH's quarterly commission in if there's nothing else earmarked for the money that quarter.

38% only for another 10 years and then we can start to live a little!

Disposable income after dc activities- 0

20%

25%

30% at the moment in London. When I was on maternity it was 40% and if things go to shit then it'll be 50%. I always heard it should be around the 30% mark so always aimed for that. Once I can I will start overpaying and paying lump sums so I can reduce it as quickly as I can.

14%. Much less than childcare which is well over a third.

18%
But our household income is made up of 1 low wage, tax credits, child benefit, and student loan... if it was just on actual income it would be 45%

Around 16% although looking to increase it to 25% to overpay as only recently started the mortgage so a looong way off paying it off and would like it to be sooner

17% of my take home, about 10% of household. Planning to start overpaying it once the student loans are gone.