What is your mortgage payment?

[HaggisMcNeepyFace]

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!

2200 a month

£1000 a month but actual payments are £814, we overpay. Live in Yorkshire. About 22% of our monthly nett income. 4 bed fairly big family home worth approx £350k about half paid off. Am in mid 30s but no provision for retirement so need to pay it off by 50 then save madly for retirement as that really worries me. But then a lot can happen in 20 years

house prices are low where we are compared to down south (Scotland) but salaries are also pretty low so it works out the same. I am constantly staggered at the amounts some people on MN earn - or their husbands do.

We pay £560 a month, the house was bought for £128,000.

LittleLaura1 You can buy a three bed house in some parts of Nottinghamshire for 80k. We brought a new build three bed town house for £175k when we first moved up from London!

£0....... I paid my mortgage off last year!

It was £640 though. We put £500 extra away in savings now.

I pay £147 a month and house is worth 300k....sounds good but im a single mum on shit money....

£1,500 a month.
I'm a single parent and started my own business 2 months after moving into the house. Not having a proper salary for nearly 6 months was terrifying, especially as I'd tripled my mortgage :-((

Currently £550 which is 16% of our net income. Once we have finished child support that will be ploughed into the mortgage. Should be paid off 10 years early.

£800/ mth, I think.

Quite surprised at all the people overpaying on their mortgages to get them paid off, as my financial advisor seems to think a mortgage is a cheap loan at the moment, so advised us instead to put any extra into isa's / other investments, which will be worth more in real terms at the end of it all.

People are a bit blinkered about mortgages on here Platypus. It's always 'you must pay your mortgage off while interest rates are low, you'll save thousands' without considering that some people are paying annual interest rates of 1% or less so you can beat the rate easily with current accounts, ISAs, Premium Bonds, regular savings accounts etc and have the money accessible if you need to replace the roof, build an extension etc.

That's interesting - I'd heard that from a finance person I know.

The way I see it is that the interest out on my mortgage is currently higher than the interest in on any of my isas. Maybe I'm putting my money in the wrong place though.

£250 pm mortgage and house would sell for £200k.

Low income though as we can afford to be with low mortgage.
We chose the mortgage, home etc to allow a low income, and have done for the past 30 years.

People who want and earn lots of money can have much higher disposable income or more luxurious homes and possessions.

£870 a month on a £255k mortgage in West Kent. Only been homeowners for a few months but we're in our mid twenties so feel very happy 😊

You can easily make 8% on good ISA investments then pay your mortgage off in chunks. Maybe net is cheap use it wisely.

Yeah, I think interest in our mortgage is something like 2%, while our isa's make about 7%.
When my dad wanted to lend us money years ago, instead of taking it from savings he was advised to take out another mortgage on his previously mortgage-free house rather than dip into his savings!!
Irinicalky, the money was a down payment for OUR house!

A quarter to a fifth of our income.

But surely it's still a loan though, your still paying a debt. I can't get my head round it.

Sorry, when I say savings I mean investments! Savings are worth hee-haw these days!!

£1080 a month, 35% of our combined wages, taken out over 22 years- sometimes wish we had taken it out over a longer period to give more breathing space (childcare is practically the same again)
Locked in for 5 years so will review our situation then and in the meantime through anything spare at it (only £40 a month atm but better than nothing)

Just under £900 a month. House worth around £300k. Bring home about 4k a month.

£1050 a month. We also overpay £500 a month. Mortgage 184k. House worth 460k.

£0... old enough to have finished paying it off

£0

We sold our fancy pants massive flat for loadsa money and bought a non fancy normal sized house (and paid off all other debts too).

I'm not a risk taker so much happier in a much smaller house and financially secure rather than having a big house.

Approx £600. Which is about 12percent of our net income... About 15yrs left to pay, it doesn't seem too bad. House worth abt 220k. Once we reduce nursery payments we can look at paying more I guess.