Wondering how much people pay per month for their mortgage...

[Northernlassie1974]

We currently have our house on the market, looking to move to a new build property nearby. New mortgage has been quoted as being £805 per month. That's more than we are currently paying but actually less than I thought. It's a bigger property and to move up a size the prices go up considerably around here. We aren't well off, don't have a fat pot of savings or equity in the house so, as I see it, that cost is about what we expected. We know of lots of people with mortgages more than that.

A friend asked the other day what it is likely to cost per month and commented it was a lot of money. So, out of interest, I'm wondering what people are generally paying for their mortgages???

3 bed semi in a nice area of M/cr. £550 per month but I also make overpayments when I can. 20 years to go. Will be paid off when I’m 60 but overpayments should shorten the term. All in my name, DP doesn’t contribute to the mortgage but he pays 50% of the utilities, council tax etc.

£1700 Surrey with a big deposit.

About €220 a month. Would have had it paid off a few years ago if I hadn't had to remortgage to buy my ex husband out! As I have now developed chronic health problems I'm very glad it's so low and would be manageable even if I have to go on disability pay. It's in Dublin so worth a good bit at the minute unless the bubble bursts again.

Presently, £285 a month 3 bed semi (on a horrible council estate)

In the process of buying a bigger place and our new mortgage will be £600 which makes us nervous

Our family income is about £60,000

£435 for 2 bedrooms but hoping too move soon to a 3 bedroom which will be about £550.

£1500 for 3 bed terrace in south London/Surrey borders. We had a £140k deposit.

£3200 for a large 6 bedroom in south east with a bit of land. 28% of our income goes on mortgage

£450, three bed semi in Yorkshire. 100% mortgage 15 years ago. Took it over 30 years so will be paid off when we’re 53.

£4600 about 20% of income,London.

Ca. £1,100 a month. Was initially less, I think around £900, but we started overpaying a few years ago when savings rates plummeted and then stuck with the same repayment level when our fixed-rate deal was up for renewal. Cut about 5 years off our remaining term.

About £470 on a remainder of about £86k...

£360 on a 2 bed in Stirling. Extended the term to a ridiculous length when we had DS, will reduce it once he starts school in August and our childcare costs reduce

£1560pm in London with a 50% deposit on a 3 Bed (ground floor extended) 30s semi.

Definitely feel mortgage amount should be a % percentage of income. Do lenders not look at this nowadays. A while since negotiated a mortgage so don't know current policies.

£789, greater London, but we overpay on top of that so actually more like double that.

Definitely look at your monthly income after tax/pension etc and then work out a rough budget, including considering what parts of these can be reduced if necessary. That's how you know if it's affordable- the amount in itself is neither here nor there, what matters is do you have enough money left to eat, get to work, have fuel for your home, childcare costs, etc etc etc

£890 3 bed semi in zone 6 of London travel zones

Mortgage £720 pcm but overpaying so £1100. Have 6 years left but if continue overpaying about 4 years and 2 months. Have 4 bed detached with 2 bed and shower room loft extension, making 6 beds.

£911 a month on a 33 year mortgage, (Essex zone 6 4 bed semi)
we round up to £1000 in a pathetic attempt to reduce the term...my ideal plan is to increase the monthly payments by £100 a year and then at next remortgage go to a 25 year mortgage.
However I think that might be a stretch...Don’t want to be 71 and still paying the mortgage

690 4 bed detached outskirts of Edinburgh

£1600 on a three bed detached in south east. We didn't get the longest term that we could but may look at extending soon as it creeps up every few years (started around 1500)

2k a month on a £500k house with a sizeable deposit. This is in the Channel Islands. We were paying £700 a month on a 3 bed semi detached house in the East.

But I'd say everything is circumstances. We pay a lot more on our mortgage but the move changed everything and we have more disposable income now.

£1905 for 5 bed (3 ensuite) detached in Hertfordshire. We own over 50% of it in equity too. 17 years left to run. Current deal is 1.71%. I do worry about what happens if interest rates go up too much!!

£100,000 a month isn’t bad at all