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AIBU?

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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:
MazDazzle · 12/01/2018 21:56

I think ours is £750 per month, but we pay £1150. Mortgage is for £180K and we put down a 20% deposit. It still needs a lot of work, so we also try to save every month for renovations.

We save monthly for our kids (£300 total), but I’m not sure if it would be better to put the money into the mortgage instead.

DulliDulli · 12/01/2018 22:01

617pm, 40% of monthly income and stuck in negative equity. Feel completely stuck.

BirdyBedtime · 12/01/2018 22:03

We're paying £1000 pm (overpayment of about £100). Balance is about £90k with house worth about £270k (4 bedrooms, 3 reception, 2 bathrooms). It's about 20% of joint net income. We plan to increase the amount we are overpaying when we move up payscales to shorten term but currently sitting at 9 years roughly.

randomthoughts · 12/01/2018 22:04

£900, about 25% of net income. Was £800 but just added extra borrowing to purchase freehold and for our dream kitchen. House worth about £230k in the north east. £150k outstanding.

NotEnoughCats · 12/01/2018 22:05

We're renting at the moment, but we are in the process of buying a house which we are lucky enough to be able to pay for in cash, so nothing once that happens. Having said that, we've spent the last 20 years renovating houses and paying every spare bit of cash off the mortgage, sometimes going without things that other people would see as necessities. Paying extra off the mortgage, even tiny amounts, can make a big difference to a mortgage over all.

georgiana89 · 12/01/2018 22:12

£970, shared between me and my husband. Tiny flat, but in Zone 1 London. Less than I ever paid renting, but I tend to torture myself with what my friends back in Sheffield (where I grew up) get for the same or less.

SwinginFromTheChandelier · 12/01/2018 22:13

£360, got on the ladder young

GodlessDomestic1 · 12/01/2018 22:18

Ours is around £450 p/m which is around 15% of our combined income, however we overpay every month and expect to pay it off within 5 years. We’ve lived in this 3 bedroom house (Home Counties) for 25 years but have increased the mortgage on a couple of occasions. My DD will expect to pay £1000 p/m for a 2 bedroom rental.

riledandharrassed · 12/01/2018 22:19

£1110 - depressingly on a 1 bed

alphajuliet123 · 12/01/2018 22:19

This reply has been deleted

Message withdrawn at poster's request.

theunsure · 12/01/2018 22:22

£775 on the house we live in, worth about £270k
£195 on a BTL interest only (my old house) - but it rents for £850. Worth about £230k (in a different part of the country)

Ignoring the BTL our mortgage is 19% of net joint income

Welshmaenad · 12/01/2018 22:39

I don't have one, I own my home outright.

ComfortablyGlum · 12/01/2018 22:41

£1500 a month, 20% of take home. £170K left now. The house worth about £600k (or will be with a new kitchen!) Home Counties / commuter area. Toyed with the idea to move to a nearby town where the kids go to fabulous schools but would need another £250k for the same size house - not sure it’s worth the hassle seeing as they got their school places now anyway.

Zolabudder · 12/01/2018 22:41

£500 ish. 10% of net income roughly. Interest only though so plough a lot into savings/pensions as need to repay in future although we may downsize.

TW1984 · 12/01/2018 22:44

£206pm - 10% of monthly income. Have a large amount of equity from selling my old house and moving to a cheaper party of the country...

UterusUterusGhali · 12/01/2018 22:59

Good grief.
The rent on my HA house is nearly £700!
Wish I'd been born earlier. :(

whyioughtta · 12/01/2018 23:01

£1150 per month c. 10% of our monthly income

riledandharrassed · 12/01/2018 23:03

Born earlier? I was born in 92 ! There are also “baby boomers” in bad situations when you read the pensions threads .

watchedfrozentoomanytimes · 12/01/2018 23:05

14% of our combined take home pay

Lellikelly26 · 12/01/2018 23:06

Mortgage repayments £890 outstanding balance £180k

AnneElliott · 12/01/2018 23:07

Ours is £1800 per month but we overpay. House worth £650-700k and will be ours in about 10 years.

TimeforCupcakes · 12/01/2018 23:07

£481 pm house worth £175,000. I find this thread fascinating 😊

Babyroobs · 12/01/2018 23:08

Gosh some of these monthly repayments are huge. I guess it depends on income though. We are mortgage free at present. have just seen our dream house but it would mean borrowing around £75k and it feels scary after being mortgage free for a couple of years. repayments would be around a fifth of monthly income.

riledandharrassed · 12/01/2018 23:10

Over what timeframe ?

Argeles · 12/01/2018 23:12

£2100 per month for our flat. Welcome to West London.