Please or to access all these features

Add post

Watch this thread

Save thread

Start a new thread

Flip thread

Hide thread

My feed

Active Unanswered threads

Getting started FAQ's

Unanswered threads Acronyms Talk guidelines

Hide shortcut buttons

Talk

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Flip

1 2 3 4 5 6

Original poster

How much debt/mortgage payments are you in?

140 replies

Highlandspring1991 · 11/09/2019 22:10

We are currently in debt totalling to around £20k, they’re manageable and are overpaid each month but I can’t help but worry. Our mortgage is to a family member who bought our house for us and we pay x amount each month. I always get really anxious Incase I lost my job etc which I know I won’t but it’s always there at the back of my mind! How much is a normal amount of debt now days?

OP posts:

stucknoue · 12/09/2019 07:06

No debt, mortgage equivalent to one years income but I'm guessing I'm older than many of you

Ffsnosexallowed · 12/09/2019 07:07

Mortgage of about £125k, personal loan which consolidated credits card debt of £4.5k, that's it.

EmrysAtticus · 12/09/2019 07:09

At the beginning of March I would have said student loan (which I don't count as no-one is going to come demanding the money it's just extra tax), £135k on mortgage and a couple of thousand on an interest free SCS loan from when we bought carpets for our new house. Then my DH revealed that he had accumulated £38k in credit card and personal loan debt.

6 months on we have got it down to £32k and the credit cards should be paid off in around a year. Reckon around 3.5 years to pay all off. Once we have we will never be getting into debt again other than a mortgage and I will be making sure we build up a solid amount of savings.

MrTumblesSpottyHag · 12/09/2019 07:10

About £100k mortgage and £1500 on an interest free credit card.

MRex · 12/09/2019 07:12

No mortgage, no debt. Debt always made me a bit itchy so I paid my student loan off within a couple of years despite having a low wage back then and I focused on overpayments to the mortgage for many years. We were using savings for long parental leave and have maybe 1.5 years of expenses left, but working part-time now the money in/out is largely balanced. We need to save more for retirement, save for an extension and expenses will go up when DS starts nursery, but we can do all that from next year, no rush.

Heyboyo · 12/09/2019 07:14

About £800 on cc and mortgage paid off 2 years ago

Spidey66 · 12/09/2019 07:15

Couple of hundred on a credit card. Mortgage cleared.

BenWillbondsPants · 12/09/2019 07:21

£20k left on mortgage. No other debts.

Metalhead · 12/09/2019 07:23

We have around £100k left to pay on our mortgage but have been overpaying for ca. 3 years, no other debts.

Elllicam · 12/09/2019 07:24

About £258,000 over two mortgages (our home and btl) and about £14,000 car loans. £2k credit card. We are on track to pay off the card and loans though.

Allthepinkunicorns · 12/09/2019 07:26

I have no debt and owe £57k on the mortgage which wil be paid of in 12 years. I don't own a credit card as I got myself into trouble with one when I was a student and they now give me anxiety so everything I buy is bought outright or not at all now. I won't take a loan either unless it was an emergency like my roof started leaking etc. I have £1000 in savings as well.

lastqueenofscotland · 12/09/2019 07:27

About 45k left on the mortgage.
Student debt which I sort of don’t count

Turquoisetamborine · 12/09/2019 07:28

No debt at present apart from a sofa finance plan which ends next March. This is £64pm. Mortgages are 106k for our house and 83k for a house we had rented out. This is soon to be sold and will leave a shortfall of around 18k which we will have to borrow from a family member.

tactum · 12/09/2019 07:34

£100k mortgage on house but we will sell before it's due for repayment to downsize and house is worth 6 figures so I count that as no debt as we meet the repayment each month. No other debt. Value of house is significant in contributing towards 'pension'.

I do, however, despair of how the yoof of today will ever get on the housing ladder without significant parental help.

NeverTwerkNaked · 12/09/2019 07:39

Big mortgage, £300k, but it's still substantially cheeper than renting a similar property so I feel lucky really. And we try and over pay.

Cc debt of £1500 on 0% card , will be paid off before interest kicks in, and was from legal fees to deal with abusive exH so again I am just grateful I had that option. DH could have paid it in savings but I wasn't comfortable with that.

Nogodsnomasters · 12/09/2019 07:40

Mortgage is £48,000 and debt is just under £3000. Having debt freaks me out too, that is a mixture of a small credit union loan, an argos card and what I borrowed off my brother, all being paid in monthly installments.

Defeatthedebt · 12/09/2019 08:26

£4200 on a 0% credit card. No morgage. Hoping to clear about £1300 of this by the new year and looking at getting a morgage.

Batqueen · 12/09/2019 08:36

£190k mortgage only completed last year. £3k interest free loan for windows and doors (will be paid off in 18 months). £9k credit cards at 0% which I plan to pay off in the next 12 months. Being in debt is a brand new thing for me and I don’t plan to stay there!

Kitty1184 · 12/09/2019 08:36

Debt is approx £11k, all in payment plans and all old.

Mortgage is £290k, first time buyer at the age of 34

WhoKnewBeefStew · 12/09/2019 08:38

I've got £84k outstanding on my mortgage and about £15k debt plus I lease a car. I overlay on the mortgage so hopefully I'll be mortgage free in about 8 yrs time

allabouteve1 · 12/09/2019 11:07

About 5K on car loans and a mortgage of 210k. We don't have any other debate or credit cards. We are mid 30s.

Lndnmummy · 12/09/2019 11:27

Mortgage £300k but less than 50% LTV and less than 2x household income. No other debt.
Rather envious of people who have paid their mortgage off!

WhatsMyPassword · 12/09/2019 11:29

OP Our mortgage is to a family member who bought our house for us and we pay x amount each month.

So who actually has their name on the deeds - because they own the house.

PurpleFlower1983 · 12/09/2019 11:30

We have around 20k debt with car finance/a loan that we took out. We’re late 30s and only have £67k left on the mortgage though which we’re likely to pay off next year when we sell our rental property.

LittleGinBigGin · 12/09/2019 11:31

I have £78 on my credit card. Which will be paid off on the 20th. I have reduced my credit card to £250 limit. Dh has a 10k limit but it’s kept hidden in a draw never to be used unless we are desperate!!

And a 120k mortgage.

First time in over 10 years we are debt free. Sold our house - got a smaller one paid off debt with equity with enough left for a decent deposit so only a mortgage. House was cheaper as well.

Before that we had:
9k loan
5.5k on credit cards
16k on pcp agreement.
Mortgage was 190k.

It’s so nice going to bed and knowing if I lost my job we’d be fine.

And I appreciate we are extremely lucky to have sold our house for a massive profit and be able to easily afford everything on one salary now.

Now we are saving just under 2k a month.

Flip

1 2 3 4 5 6