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AIBU?

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Original poster

To think it's rude to ask someone how much their mortgage repayments are?

185 replies

CatchTheRainbow · 18/02/2017 19:18

Two people have asked me this since I moved to my new house.

I kind of feel it's like asking someone how much they earn. It's personal and should only be shared if that person offers up that information freely.

OP posts:
greenworm · 18/02/2017 20:10
  • Not because I want to know your salary
bulletjournal · 18/02/2017 20:10

I don't think it's the same than asking about rent. You don't necessarily spend the maximum possible amount on your rent, so it doesn't reflect your income, your savings, etc

EyeStye · 18/02/2017 20:10

This reply has been deleted

Message withdrawn at poster's request.

EyeStye · 18/02/2017 20:11

This reply has been deleted

Message withdrawn at poster's request.

Purplepotatoe · 18/02/2017 20:13

It's nothing like the same question confused. You pay the going rate to rent. To buy there are many variables including deposit, credit history, choice of deal, affordability.

It's exactly the same question, what you can rent is based on - how much deposit you have, your credit rating, whether you can afford the rent, your job and so on. If you ask someone what their rent is, you know they must earn at least 4 times that amount therefore you can work out roughly their wage.

FiveShelties · 18/02/2017 20:14

Tell them you do not have a mortgage.

PageStillNotFound404 · 18/02/2017 20:14

Having said that, lots of people seem to think nothing of asking how much tenants pay in rent each month, which is much the same question.

True, but I guess the difference is rent is set by a third party and is slightly less likely to be directly tied in to the value of the house, so the only thing the answer tells someone is whether or not the tenant can afford it. Mortgages / house prices are more intrinsically linked to your income so giving that information potentially tells the questioner more about your circumstances.

Not that I'm condoning asking about rent either!

Original poster
CatchTheRainbow · 18/02/2017 20:15

I don't mind telling them the price of what I paid (bloody bargain as I got it £40,000 less than its original asking price.)

I'm quite a private person unless you're very close to me, so I was just taken aback each time I was asked.

OP posts:
Screwinthetuna · 18/02/2017 20:15

I don't think it's rude if it's a friend of family member, why would it be? It's odd if it's someone like your neighbour a woman you just met on the train

olderthanyouthink · 18/02/2017 20:16

Asking about might be worse because a lot of people are paying more to rent their home then it would cost for a mortgage on the property.

NavyandWhite · 18/02/2017 20:17

This reply has been deleted

Message withdrawn at poster's request.

bulletjournal · 18/02/2017 20:17

the deposit for a rental property is not the same at all as the deposit for a house!

PageStillNotFound404 · 18/02/2017 20:18

If you ask someone what their rent is, you know they must earn at least 4 times that amount therefore you can work out roughly their wage.

Where on earth do you get that figure from? I'm in private rental and I don't earn anywhere near 4 times my rent, but I live comfortably and manage to save a little bit each month.

dontcallmethatyoucunt · 18/02/2017 20:18

It's exactly the same question, what you can rent is based on - how much deposit you have

It isn't. I would have about a deposit of 850k, if I were to rent this would make no difference to the MARKET RENT.

dontcallmethatyoucunt · 18/02/2017 20:19

No one except the rentee does an affordability calculation.

GreyBird84 · 18/02/2017 20:21

Would depend on who was asking me.

It's a bit pin in the sky as surely it depends on what deposit was paid & then what deal you are on i.e. Interest only or repayment etc.

I would tell a close friend looking to buy sthing similar but not a nosey friend of a friend.

Pissedoffhousewife · 18/02/2017 20:23

I think it's rude. Along with people who ask how much we pay a month for our car, how much DCs clothes cost and how much a holiday cost us! I would never dream of asking and I also think it's rude when people volunteer the information in conversation. It makes me feel very uncomfortable 😣

olderthanyouthink · 18/02/2017 20:25

dontcallmethatyoucunt (does anyone refer to you as "youcunt"?)

When renting my flat the agent had to ask me if I earned a certain amount, then the referencing company checked with my employer because my landlord required that tennants earned at least x amount which I guess is based on some affordability calculation.

BaconMaker · 18/02/2017 20:25

I'd love to know how much people pay but would never dream of asking. It's personal and none of my business.

Semaphorically · 18/02/2017 20:26

I don't think it's rude, but since I know lots of people don't discuss this kind of thing I would wonder why the person was asking.

StarUtopia · 18/02/2017 20:29

If you ask someone what their rent is, you know they must earn at least 4 times that amount therefore you can work out roughly their wage.

What a load of crap! Our rent is £700. I can assure you we don't earn 4 times that amount (try twice) And yes, we struggle!

OutToGetYou · 18/02/2017 20:30

Nah, I think we're too uptight about money in this country and if we talked about it more there would be less debt.

dontcallmethatyoucunt · 18/02/2017 20:30

older, but it's not a legal requirement.

In truth, it's a while since I've rented and I'm sorry if that is incorrect. However my point that rent calcs and mortgage repayments are vastly different calculations. You can rent what your income allows, you can buy what your income AND down payment allows.

LadyOfTheCanyon · 18/02/2017 20:31

Wouldn't bother me in the slightest. Me telling them a figure means nothing if they don't know what our deposit was/ whether we are interest only or repayment. I'm a florist and my DP works in IT. If someone wants to sit there with a calculator and work out the variables, good luck to 'em.

MrsTeller · 18/02/2017 20:35

Just varying the mortgage term makes a huge difference.

I could remortgage and double my repayment to pay the mortgage off faster, my house would be worth the same and my salary wouldn't have changed.

Too many variables to make it worth while information unless you're a first time buyer and paid the minimum deposit and took the longest possible term.