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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

What is your mortgage payment?

345 replies

HaggisMcNeepyFace · 12/01/2018 20:11

On the back of the thread about wages, where a couple of posters have said that what constitutes a good salary depends partly on how much your mortgage is, just wondering what mortgage people pay per month?

DP and I pay 1800 a month which I think must be quite a lot... it takes a big chunk of our salaries!

OP posts:
Nquartz · 13/01/2018 10:58

How can I make 6/7% interest on savings?
I have an isa which is 2.7% interest & 2 savings accounts which are 2% on the first £5k, compare that to our mortgage of 2.75% and we are better off overpaying.

CurlsandCurves · 13/01/2018 11:03

Should be about 350 a month but we overpay so it’s about £550 a month.

Got just under £24k left, will be paid off in just over 3 years, or less if I can knuckle down a bit more. Not sure of how much our house would be valued at, guesstimate at £200-220.

Increasinglymiddleaged · 13/01/2018 11:05

nquartz stocks and shares isas tend to have a higher growth. Obviously they can go down as well but my low risk one paid 11% last year.

FitBitFanClub · 13/01/2018 11:13

Just under 15% of take-home pay.

DownstairsMixUp · 13/01/2018 11:16

No mortgage as I will never be able to get one

DrunkenUnicorn · 13/01/2018 11:25

2.5k 😣 50% of our take home pay. House was bought for 535k 2 years ago, probably worth 600ish now. South east commuter belt for London.

notangelinajolie · 13/01/2018 11:32

£84 interest only. Watching house value go up and in no hurry to make repayments we will be selling long before mortgage end date.

MazDazzle · 13/01/2018 11:44

I have a stocks and shares ISA with Saint James’s Place. Not sure if it’s the best place.

Who is your one with Increasinglymiddleaged (if you don’t mind me asking!)? I’ve had a quick look at some others but them seem high risk.

FitBitFanClub · 13/01/2018 11:50

We have loads invested with st James place. It's done amazingly well over the last 30 years or so.

thisisalliwant · 13/01/2018 12:01

Ours was 2/3 of our household income due to financial crash. Took us 4 years to sell and that was at a loss, only just covering what we owed and the fees. I loved the house and it’s where my babies were conceived, came home to and sadly where one died. It became a total millstone though and nearly broke us. Will never own a house again, unless it’s outright, which is very unlikely.

TurquoiseDress · 13/01/2018 12:04

We have a mortgage agreement in principle and the amount is around £1200/month for the kind of property we can afford here in London i.e. 2 bedroom flat which is not really going to be enough space but it's all we can afford.

Our current monthly rent we pay is £1550/month Shock

RoseWhiteTips · 13/01/2018 12:05

£2,500.

MazDazzle · 13/01/2018 12:10

That’s good to know FitBit.

This thread has been a real eye-opener. I’ve been worrying about paying my mortgage off as soon as possible, so it’s interesting to hear that others don’t thing that’s the best thing to do with your money.

Increasinglymiddleaged · 13/01/2018 12:19

It's Halifax

liz70 · 13/01/2018 12:41

We paid ours off in 2010. Before that it was about £300 pcm, house bought in 2002. 3 bed semi in Glasgow suburb.

thatwouldbeanecumenicalmatter · 13/01/2018 15:14

Second BeyondThePage, we saw an independent financial advisor, I can’t remember what we paid him but he found us the best deal (which is still the lowest/not much above base rate now) - must have saved us ££££ over the years.

Piratefairy78 · 13/01/2018 15:38

£500 per month which is currently 20% of the joint take home pay. Fortunate that our fixed rate came to an end just as interest rates dropped. Our financial advisor had also negotiated within the fixed rate deal that afterwards we would track below base rate. Can’t see us changing it for a while.

ConcreteUnderpants · 13/01/2018 16:54

£507. About 60% of my income. Nearly kills me each month to find the money.
Got 13 years left on it.
Properly worth £120k

MazDazzle · 13/01/2018 17:34

Thanks Increasinglymiddleaged. St James’s Place is linked to the Halifax, so likely to be very similar.

wibblywobblyfish · 13/01/2018 17:52

Mine is £230 a month. 10yrs left to go and it's about 5%of our income.

MrsGloop · 13/01/2018 17:55

About $3000! House is worth $650,000 I would guess. Our interest rate is low so frankly I’m not terribly motivated to pay it off prematurely.

seeeya · 13/01/2018 17:57

2.6k a month - more than 50 percent of husbands take home pay.

I have taken some time off work (I did this before I knew about massive money issues) but need and want to go back to full time work soon.

It really is awful

I think we still owe 220k

Part of it is around nearly 5 percent interest.

My husband went and used a massive overdraft and accumulated secret debt which I found out after I stopped work.
We should only have had 5 more years to pay but we now have 12.

I am staying in the marriage but my life savings have been taken and his parents helped out massively so we have no other debt now apart from the mortgage.

I can't wait to go back to work to clear it.

I thankfully ringfenced some savings for my children.

Also I lived very stringently before so it just means I must live stringently forever more.

I am not sure I will ever really trust anyone again.

ByTheSea · 13/01/2018 18:02

£1900/month, less than 9 years to go.

Bernard46 · 13/01/2018 18:03

£450 a month. House worth 1.2 million.1/10 monthly salary take home.

BoredHorse · 13/01/2018 18:05

Ours is £369 a month. 11% of joint monthly take home salary. Our house is valued at 100k and we have about 68k left on mortgage.