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???

£360 almost half deposit though so not bad. Greater Manchester. 3 bed semi good area.

We are overpaying and hope to pay over 15 instead of 25 years

£1,113 on a £270k mortgage. London suburbs

2k. 4 bed semi in the Home Counties....

£2450. Large 5 bed with 2 acres. Interest only, and although we are over paying we need to overpay by more than we are to not have anything outstanding when loan term finishes in 10 years.

Or in 10 years we downsize which will be highly probable as dc will be late 20’s by then.

£1100 a month. 40% of my income. Was 55% a while back. My figures aren't great but i manage. I think you'd be ok based on your salary.

@ImpracticalCape

Just under 20% for a bog standard 4 bed detached in the SW. We shortened the term though so will be mortgage free in December.

£1200 which is about 20% of our income. We're in the South East.

2.5k. Honestly thought that was about normal.

900 but dh is a highearner so it's comfortable. Used to be 1500 when we first got house which was more of a stretch (however no kids then). Were planning to pay off early but I've got the sod it button. Loft conversion planned, will add 40k on. Maybe kitchen in a few years

You pay about 1400 dkk per month Scandilady ? Nice!

Also in DK but we pay about £1400 for a small 3 bed (also a bit small for us).

£613 a month on a three bed semi detached house. We could have got it cheaper but none of the cheaper providers would give us a mortgage because of my 0 hour contract

1150 pcm. Up from 700 on last one. A 30 year mortgage too.

But it is my forever home. Still a bit scary how much it has jumped up by to be honest.

£1090 per month, which is 22% of our post tax income. 2 bed flat in London.

I’m afraid I also don’t know anyone who pays less than a grand, of the people who have bought we have the smallest mortgage (240k when we took it out). We’re all FTBs though so paying through the nose on interest at this stage and I don’t know anyone whose deposit was more than 10%.

I’m not in the UK but when exH and I bought our two bed, two storey townhouse we were paying the equivalent of £834/month - worked out as just over $1,500AUD. Suppose it’s all relative to size, condition, location etc though.

£440 ish here (can't remember exactly because I round the payment up to £600). That was about 30% of net income when I got it, but is less than 20% now. 25year term originally but slowly knocking years off that now by overpaying. I pay off my mortgage approx what the rent would be for an equivalent house each month (but even then I'm being a bit nice to myself, it probably ought to be £650 by now really).

Sometimes I consider upsizing as it is a bit of a struggle for space, but only because my hobbies include things like quilting and sewing which take up quite a lot of indoor room. Every time I consider it I end up deciding I'm okay, and that I'd rather not be tied to my current well paying job. If it was less frivolous reasons I'd just suck it up and pay it.

$3600 (Australia). Two bedroom townhouse in a very nice inner city location. $750K mortgage; $900K purchase. Unlike the UK, paying a mortgage is generally more expensive than renting. Out housing cost approx doubled when we moved from a beautiful large rented house into this one.

@impracticalcape what do you live in?? A castle??

Just under a grand - 4 bed terrace in the Midlands with big garden. Usually overpay in the region of £200 to try and pay it off early.

@Tunt eek me too

£2k here, 4 bed semi-detached Victorian house, NE London

It’s only really relevant as a % of your income. We pay £1000 per month, which is around 15% of our take home income.

I think percentage of income is more useful to you than cost. Ours is 15% of our joint income. I believe they say you should spend no more than 30% on housing costs.

Yeah APheasantPluckersSon we pay 1300 dkr a month. Have 16 years left. But we live on Fyn in a suburban area in a 3 bed detached house... if you live in Copenhagen or in the other big cities I know it's a lot more expensive to buy...

Payments are 17% of post tax income. Currently choosing to pay 30% in a bid to pay it off ASAP

doesn't really matter how much others pay. as long as you can afford it. incomes vary, just as mortgages do.

£550 on a three bed semi.

£750 a month, detached 4 bed house. 10% deposit and mortgage is 20% of our combined monthly income. Not on a position to overpay as I work part time however will look too when dh moves up a pay grade or increase my hours as the kids get older.