To ask your income and mortgage payments??

[Desperatetobeamummyonedaysoon]

I ask because im remortgaging! I think they say 20% of your income should go on mortgage max. I know ourgoings are a factor! My income is 32k. I have no other debts but may take out a car finance soon for say 250 a month. If u were me how much mortgage would u repay monthly? The bank are lending me 180k which is great but i need to decide what term to pay it off. ie in how many years... im 37. Would u pay around 600 a month on my salary or more or less?

Joint income of around 3500 per month and our mortgage is 1200.

Joint income of 3,850. Could decrease pension contributions to free up another 280pm but would not as I have a good employer match. Mortgage is 1,180.

We do not have car payments however and the only debt we have is for a holiday at £150pm.

No childcare at the moment, but when that kicks in things will not be as fun. Looking at 950 pm for full time, or 750 pm for 4 days. That will pretty much wipe out most of our disposable income but we should still be comfortable.

Joint income £4300 and mortgage is £1150. Which I thought was ok but seems quite high compared to others... Massive nursery bills so not able to overpay yet. Hoping when we remortgage in 3 years time it will come down. That is if Brexshit hasnt collapsed the housing market entirely.

I have no mortgage, I take home c£3,100pm, and I save £800pm on the basis this is the equivalent of a mortgage payment.

The % thing doesn't really work I don't think.

If you take home £5k, 20% is £1k, you've got £4k to live on, which is a lot.

If you take home £1k, 20% is £200, leaving £800, which is not much to live on.

I think the question should be how much do I need, or want, left to live on, and the difference is what you can pay to your mortgage.

Monthly income is just under £1500 after tax. Mortgage payment has just come down to £259 per month; six years until it's paid off.

For context I have always lived alone and bought this small property nineteen years ago for less than £45,000. I know I was fortunate enough to be able to buy at a good time.

Two of us. Combined income is £3100 sometimes more due to overtime. Our mortgage is £840

We've just moved and ours is just over 9% of our income.

Single parent with net monthly income of £2200. Mortgage £525 per month. No spare money to overpay at the moment.

29% here. Mortgage of £1350, take home of £4600.

If we don't overpay it will be gone when DH is 51 and I'm 48.

£1100 a month mortgage. Annual income around £88k gross. Think it's about 18% last time I checked.

24% of income, but that's overpaying with a view to clearing it over 20 years instead of 25 (we had 3 kids in 2 years so anticipating an expensive time if they all go into higher eduxation). No other debts. It feels fine, and we have a nice lifestyle, but doesn't feel like we're well off (even though outr household income is objectively quite high).

That will pretty much wipe out most of our disposable income but we should still be comfortable.

How does that work?

Gosh ours is currently almost 50% of income. No wonder we struggle so much each month!!

I was about to post exactly the same sentiment! Take home pay is £3k, combined mortgage and rent (shared ownership) is £1450. It's tight but I expect my salary to increase and it would cost me at least this much to rent an equivalent home.

Where are these mortgages? We rent and cant save for a deposit because our rent is 1375 a month!!! Thats the cheapest in our area and no we cant kove as we cant save for a new deposit! Renting sucks!

Ours is 20% and we'll be planning to overpay it

Mine's currently 21% of monthly income, but will go up to 30% in a few years time when DD hits 18 and I lose tax credits and child maintenance.

I'm on a discounted rate at the moment and hope to change to a new deal when this one expires, and be in a higher earning job.

Ours is 10% of income roughly after tax, isn't our biggest expense though.

As a single person I've had much higher rent to wage ratio when I was younger than what you're talking about eg £400 rent plus bills with an £18k wage in my first wage, it was doable with nothing leftover at the end of the month, but I didn't have a family to support back then. I couldn't live like that now.

Ours is 30% of joint income, but we are higher earners so still have plenty of disposable income.

Joint take home is £9k
Mortgage is £2.6k
Was £3.4k and a struggle before.

Amazed at some of the incomes

Our income is just under £5000.

Our mortgage is £776 a month. We have a 95% mortgage and the interest rate is higher because of this.

Earn £3000 and pay £1600. It’s horrible tbh and with £250 a month in council tax on top quite a stretch but I will pay it by hook or by crook

Joint annual income 75k
Mortgage payment £580pm

Joint annual salary £82k ish, just under £5k per month net

Mortgage £360 but we are paying off a huge loan where we consolidated debts at £800 a month on top

We nearly moved last year and would have been taking on a mortgage at £1200pm but the chain fell through and now we’ve decided to stay put and focus on debt repayment and start fresh in a year or so!