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???

Thanks so much everyone for your replies!

I agree, it is 'how long as a piece of string' but does make me feel much more confident about it to see such variation and so many people in different situations!

We weren't sensible at all years ago before we bought our first property. Bought a small two bed and had debt from uni (loan, overdraft etc) that we didn't pay off. We also took a 100% mortgage 🙄 at the time. We then had to sell at a time when the prices all crashed as sold in negative equity, so did help to buy to buy this house...very small 3 bed.semi, no garage, third bedroom is teeny etc. Only put down 9k on this one.
In response to previous posters questions..extension sadly isn't an option, we don't have the money or space to do it, not even the loft as it's not suitable for extension! Even if we did extend, only option would be to remortgage...probably resulting in mortgage payments rising to similar as what we're looking at to move.

I completely agree it's all relative but the comment about percent of income is very true, that actually made me feel a bit more comfortable about it. We currently still are plowing away at debt accrued from uni that became a refinance loan in the past...this move will mean we will pay off all remaining debt so main outgoing will be mortgage and we'll actually put some money away to save.

Thanks again for all the responses, really helpful to me regardless! X

£600 a month

£1150 for a 2 bed semi in West London

@impracticalcape
Hello from NZ. I've never paid so much on mortgage and living expenses.....

£1400 for a three bed semi in London zone 5, 60% LTV but I have a poor credit rating, so the interest is higher than the average.

I think it's more relevant to ask what percentage of your income do you pay. Mine is 20 per cent.

Nothing - ours is finally paid off!!!! Yay!!!

£750 for a ‘large’ 2 bed terraced in a VERY pricey Northern city.

We have 50% equity in the house and a short mortgage designed to pay it off quickly.

£1300 for a 2 bed semi in south London.

About 20% of take home pay

10 years left to go

We currently pay £1410 with 14 years remaining. That's for a 5 bed farmhouse in the North East of England worth £400,000 with £180,000 equity. It's too expensive for us really so we have just sold our house. We're moving into one costing £280,000 and our mortgage will go down to £800 over 14 years which we're happy with. We currently have a joint income of £75,000 which includes me working part-time.

15% of our joint income for our mortgage. We do want to move in a couple of years though and the prices around here increase dramatically from a 3 bed to a 4 bed so that makes me feel nervous. We're in the SW.

1,500 for a 2 bed victorian terrace in North London outskirts. About 45% of our income . We took out a 15 year mortgage and will be mortgage-free in 5 years . Very tough financially at the moment but the sacrifices will be worth it when we make that final payment.

350 for a 3 bed front and back garden ex mining town Scotland.

£1100 which is 20% of take home pay, north London. Only 6 years left, and counting. Was more like 40% of my single salary when I bought it 18 years ago.

Appreciate if we were buying now we would not be able to afford our current home (or anything like it in this area) - a lot of the variation in these replies will reflect when people bought.

£1800 per month for a 5 bed semi in zone 4. 9 years to go but we overpay so hopefully much earlier than that.

I split the mortgage with my parter.

My half is 28% of my monthly pay after tax.

We are mortgage free technically but we have a second property with very little left that we pay £100 per month on (and that’s an over payment)we do plan on extending our current property over the next few years and getting a mortgage for that though.

£432
3 bed semi Cheshire village.
We've been here 13yrs and have just remortgaged and paid off £10k. Around 50% LTV.
It's a small house and I want to move but it's too perfect in everything else.

APheasantPluckersSon thanks... And Amager is an expensive part of Denmark. We live 20 km from odense so far cheaper area....
milkshak3 thanks for the explanation. Here's all about the square meters you get and sometimes the garden size aswell...

It depends on so many different things, house valuation, product interest rate, term on the mortgage, LTV, ie size of deposit and loan amount. You can never gauge from asking other people. I personally pay £400 but I’ve seen people pay £900 upwards. I worked in mortgages so it’s not as easy to just guess like this

£940. 3 bed detached bought for £240k with 20% deposit over 25 years. On the commuter belt of a big scottish city.

2000 euro per month.

£1850 a month. Three bed flat in SW London. We are in process of changing mortgage deal though so will be about £1500 instead.

£49 plus £108 endowment.

£2280 a month, zone 3 of London, four storey house