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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:
Batteredfish · 12/01/2018 20:40

This reply has been deleted

Message withdrawn at poster's request.

wonderfullyweird · 12/01/2018 20:40

£550

25 years still to go!

user1492877024 · 12/01/2018 20:40

£460 and 8 years left to pay. House worth about £220k.

KitKat1985 · 12/01/2018 20:41

Currently £390 (plus £260 in rent as it's shared ownership). However we are moving (hopefully!) in a couple of months to a place that will be all ours. Mortgage will be fixed for the first 5 years at £850 a month (but that's on a 30 year mortgage as we couldn't quite manage the repayments on a 25 year mortgage).

sanityisamyth · 12/01/2018 20:41

£530 a month. About 25% of salary. Can't get another mortgage even though bigger house would cost less!!

yulefool · 12/01/2018 20:42

3200pm, includes a tiny overpayment. at least 40% of our take home pay.

TheGrumpySquirrel · 12/01/2018 20:42

£1200 pcm but actually £900 ish (we overpay). I'm intending to increase the overpayments quite a lot as can no longer save tax efficiently into my pension so the house will have to be my pension. Hope to pay it off in the next 5 years, yes there are better investments but I can't wait for the freedom of not having to pay it anymore.

TheGrumpySquirrel · 12/01/2018 20:43

It's about 15% of our joint take home pay.

lifechangesforeverinjuly · 12/01/2018 20:43

£508

Ifartrainbowsandglitter · 12/01/2018 20:44

It’s 0.00. I live on a Narrowboat.

juddyrockingcloggs · 12/01/2018 20:44
  1. Got 11 years left!
ButchyRestingFace · 12/01/2018 20:45

Have paid my mortgage down to under £3,000 so £30 a month for the next 16 years would be the minimum. Am currently paying £250 pm to get it down to £1,000 and then will start paying £30 pm.

I've heard that you shouldn't pay off your mortgage in full and keep something going in case of unforeseen circumstances so that's what I'm going to do. Smile

lifechangesforeverinjuly · 12/01/2018 20:45

Pressed too soon. £508 - house bought for £160,000 and we owe about £130k. Currently worth £185k.

endofacentury · 12/01/2018 20:46

£475 Midlands

Oly5 · 12/01/2018 20:47

£1,700. House wirth 600K, we have 250K equity

LordWalterTheCourageous · 12/01/2018 20:47

£2500 house is £850000 a big chunk 8years to go it’s been emotional we do enjoy takeaways and red wine

Flisspaps · 12/01/2018 20:48

About £7-800 a month.

£127k taken out in 2006, 19 years left to go.

BelleandBeast · 12/01/2018 20:48

£1050, for tiny house in greater London. We bought it when I had a very well paid job, with vague ideas but no high hopes of having children.

10 years on 2 children, changed my priorities and we just about manage that payment every month. We could sell up and live cheaper but we have roots here now.

WaxOnFeckOff · 12/01/2018 20:49

£1800 is £600 more than DH get's paid (NHS Ambulance Driver). Not much less than I get paid either. Our mortgage is 0 though. Paid off 2 years ago.

caringcarer · 12/01/2018 20:49

We pay £900 but overpay as it is only £800 pcm. This is about 12% of our Gross monthly combined salaries and income from 5 x B2L homes. We are now down to last £70k to pay off mortgage. Obviously more still to pay on B2L. We know we are lucky and are very thankful of our situation.

AJPTaylor · 12/01/2018 20:49

Ours we paid off over 12 years by making overpayments but what i did was set the whole thing up to be cleared in 12 years. I knew that given thr option we wouldnt actually overpay and reckoned that if we hit hard times we would rearrange the mortgage.

Groovee · 12/01/2018 20:50

£398 a month

NeversayNever2 · 12/01/2018 20:51

Quite Barbara.

It's an interesting thread because usually posters say don't pay off the mortgage!But lots of happy mortgage free people here. Smile

IckleWicklePumperNickle · 12/01/2018 20:52

£740. It includes the unsecured loan we got as it was a 125% mortgage. When the youngest goes to school we will overpay, as the nursery and breakfast/ afterschool club is a killer at over £1000 a month.

13y left on it from a 25y mortgage.

1Potato2 · 12/01/2018 20:53

Mortgage free at 34. However, it was due to losing dh's dad. We'd much rather have him still around.

We are thinking we will sell the house and buy a bigger house in a few years and get another mortgage as the best way of investing for our children. We don't want to be landlords.