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???

£1400 4 bed semi Kent 12 years left

Just over £900 for a 5 bed in North Scotland.

£700 for a 3-bed in SE England. It feels a lot, considering the LTV is only 34%. 14 years left.

Main home $2050 NZD a fortnight. We have land, a heritage homestead villa with two separate guest accommodation cottages and a pool.

Rental 1 £380 pcm in SE England
Rental 2 £435 pcm in SE England

£1000 - 4 bed detached in Yorkshire. 13 years to go. We overpay by a further £500 - trying to reduce the term.
Our mortgage is on bank staff rate which is BoE base rate.

Nothing at the moment but we could be looking at about the same if we upgrade and don't sell this place.

15% of my net income, for a 4 bed in the SE, but I had made some money on a previous house so had a good deposit.

Sold last year but was £666 () for 2 bed end terrace in zone 3. Had a 15% deposit in 2011.

Now mortgage free, but we'll be relocating again in about 4 years so trying to save as much as we can now for that.

20% of our monthly net income, we have about 15 years left to pay.

29% of our joint take home goes on the mortgage.

£1100 with 12 years left. It depends on many factors what people pay though!

800 a month for big 4 bed with an annexe in the south. It's about 20% of our joint take home pay. Much cheaper than renting and about 12 years left to pay.

Was paying £680 pcm between me and ex but recent divorce means I have now moved into my own property with a whacking great £920 monthly mortgage payment that I am paying on my own! That's a nearly £600 increase in my mortgage cost a month- eek!

£700 a month for a large 4 bed Victorian terrace.

First house in 2015 with 140k mortgage was £500 a month.

Second house 2018 220k mortgage £695 a month.

Just bought a 3 bed bungalow in need of full Reno. 271k mortgage £904 per month

That's in Bristol, SW

We pay approximately 3/4 of what it would cost to rent the same house and we get to own it.

Even a one bed flat around here is £750 a month to rent.

Remember even though it is a 30 year mortgage you can of course from time to time overpay. Even overpaying £100 per month can considerably decrease the term of your mortgage.

$8000 NZD a month...😳

Currently £508 on £134k over 26 years. We've just taken out an additional £25k though for renovations so it will be around £620 a month going forward.

It's a 3 bedroom detached cottage from the 1800s - about 20 minutes from Leeds.

it really depends where you are. southeast - everything below a grand a month is low. rest of the country- not so much

£680 but mortgage is roughly 50% of house value as had big deposit. Large 3 bed, rural East Mids, paid £300k.
Mortgage in my name only and is roughly 25% of my net pay but is paid 50/50 by DH-as he can’t have mortgage.
We have other high outgoings though, so are still skint!

Mortgage would be for 30 years 😫 which also makes me nervous!
I go through phases of thinking 'it is what it is' current house is just too small, we need a new one, that's what it costs. And phases where I feel a bit panicked as it feels a long time committed to working full time etc.

OP, is there opportunity to extend your current home instead? If 30 years of this mortgage is making you feel nervous now, when mortgage interest rates are ultra low, how will you feel when interest rates double? Or go as high as say 15%? Have you calculated what your payments would be at higher mortgage interest rates?

Think about the slog of working full time year after year, no options to take a less pressured lower paid job, the pressure of potential illness, not being able to work, redundancy, etc.

We pay 165£ per month. Live in Denmark.

Currently 15% of our take home, but once I go on maternity leave it'll be nearer 20%

£1200 a month mortgage, with joint income of just over 70k a year pre tax. Outside London.