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???

@Alancarr just seen this. Good maths! Yes. Not as wow as you think. Add in 4K in childcare. Bills, commute, school fees. Factor in that both our jobs eat up 60 plus hours a week and that our house is unremarkable to anyone outside London (and not particularly remarkable in), I regularly wonder if we made the right call. We both come from very ordinary working class backgrounds in lovely parts of the country (where there are no jobs beyond tourism and farming...). But yes we are still lucky... I think !

Bought in 2012 (Both early 30s) for 320K mortgage was £1550 on a 30 year term.

Massively overpaid and recently extended the place from a 3 to 4 bed.

Mortgage now is £650 on a 22 year (ish) term. Feel very fortunate.

SW London(ish

£700 on a 4 bed detached in the North East.

£289 on a 3 bedroom townhouse in the North East for £180k

£1007 6 bed in N Scotland.

We're just about to take out a 300k mortgage for 900 a month.

40 year term taking us up to retirement, we'll make overpayments when we can and reduce term in a few years etc, not worried, plenty of time to sort it all.

Its about 25% of our take home pay a month i think

£720/month with 33 years left on £220k (15%deposit) mortgage we pay at least £800/month on mortgage aiming for £820/month to bring the term down, also due some stamp duty back as overlap with buying so when/if we get the stamp duty back we will put that straight into the mortgage we should.
Taking all this into account we should be able to knock 7 years off the term. Also when youngest out of childcare half that amount we aim to start adding to mortgage

£817 but we only put a 5% deposit in. We’re up north

Just over 2k. I am pretty stressed about it tbh

£1150. Feels like so much!

£717 on a 1 bed flat, zone 3 London. 29 years left. I overpay by £33 pounds a month. It’s about 28% of my income.

£1057 for 4 bed terrace in Bristol. 26% of our take home which feels manageable but I am a bit antsy about rate changes, and we have a couple of years left on the term.

That’s the term of the fixed rate! 26 years left on the mortgage in total

We bought a 3 bed terrace doer-upper house, live in a lovely quiet village in Derbyshire and pay £350 mortgage. Cost 15k to make how we want it but bought for 80k so can't moan!

£1800 a month in London, 2 bed flat in central London. Bought 7 years ago. We overpay large chunks a few times a year when we get our bonuses - which means we should clear it in full in a couple of years.

We have two properties and one has no mortgage the other we pay 100 (and that’s a slight overpayment) we have an offset mortgage so the money is there to pay it off, but to be honest we hardly even think of it. We are very lucky.

£2280 London zone 3 5 bed semi

It’s about £500 but we’re overpaying a bit and should have it paid off in 8 more years.

£800 a month - wish I could overpay and shorten term

10% deposit paid, 30 year mortgage started at 24, £840 per month. Large 2 bed end terrance in the south east. Bought for £252k.

£480 - 4 bedroomed detached in Hull

£970 on a 1 bed flat in south east, outside London. I overpay slightly so pay £1100.

10 years ago 720 on a 2 bed in the midlands with 10% deposit. Dropped to 560 on the standard rate 5 years later. My dad thought it was a high payment but then he had a lot of equity in his home and was on some dodgy late 80's early 90's interest only mortgage.
Equivalent rentals at the time in the area dropped were 650-750.
Looking at mortgages recently borrowing a similar amount but a better loan to value (roughly 60k equity) opens up better rates so we could buy 3/4 beds and only pay 450 a month mortgage. It's not really easily comparible as every situation is different.

£750, but brought up to nearer to £1000 with insurance and an old endowment from way back when it was the done thing, that we kept and which will mature in a year and pay the mortgage off seven years early.

£900 but only got 11 years left :D