How much you earn to afford £700 rent/mortgage

[Anonbee]

Just that really. I'm curious to get an idea of what others paying this rent/mortgage earn. (Also interested in if you pay childcare alongside this)

Those of you that pay £700pcm in rent/mortgage how much do you earn (household) and do you find it comfortable to pay mortgage on that income?
I'll start, household income of 50k and no childcare costs.

We had a mortgage of £750 and were earning £42k between us and we were comfortable but had no children.

Everyone in the SE are very jealous!

£40k here and a £1200/month mortgage for only 2 bedrooms.

That's standard London rent for a student houseshare!

Well my parents charged me £700 (including bills) while I was on £35k. I was single, no dependents though.

We pay £800 (an overpayment as the basic is £500). Household income of £75k. £45k left to go.

Some of you on lower incomes on here with high rent and childcare costs must surely be getting Universal credit to help?

We’ve paid that on a household income of £50k and no kids and still pay it now on c£100k with childcare costs of c£1300 a month. At it’s peak we were earning about £80k a year with childcare costs of almost £2l a month

That should be £2k

My mortgage is £1500 a month, on a small 3 bed. Joint earnings of around £75k. Childcare £650 month.

I'll start, household income of 50k and no childcare costs.

We've 50k household income, about £350 per month childcare costs and £1100pcm rent. We feel ok month to month but it's very slow going saving for a deposit.

Household income of 60k at the moment (Although realistically it's 53k but I have a part time job that takes in that extra 7k til the end of the year)
650 rent, 230 council tax, 100 on gas/electric, 331 on car

We do well :)

@KittenKong

We were paying that a million years ago when we were earning around £25k between us. It was a million years ago though.

Us too...London, mid 90s, sugared ownership. Take home about 1800 a month.

Ours is 1000 and we have income of 32k we survuve

To pass affordability referencing for a 700pcm property with most referencing firms you’d have to earn a minimum of £21,000 (£8,400 per annum x 2.5 affordability ratio)

Household income £75k, mortgage based only on my income though of £50k as DH bankrupt.
Our childcare is £720 net and horse is £600+, we’re broke but the mortgage isn’t our issue

Household income of £19k. Rent is £800 pcm.

I'm surprised by some of these posts. Whenever you see a thread along the lines of can we afford a 2 3k mortgage on 120k - 150k the responses are overwhelming no in case of job loss etc which I often think is unrealistic due to housing costs.

I was a student in London back in the late 00s and paid that for my flatshare!

Mortgage is £900 no childcare but £100 pm ds travel, £250 a month pm to ds in uni joint income of £49000

Joint income of £100-110k, mortgage £1500pcm, childcare £600pcm.

I’d pray for £700 mortgage 🥲 I have a one bed flat the mortgage is half that but I have to move into rented accommodation with my partner and it’s about £1200-1300 and I am so stressed at the thought and that’s for rent going nowhere. £700 mortgage would be comfortable for us. Im so miserable.

Joint income of about £55k. Childcare costs about £600

I paid a £700 mortgage (no childcare costs) when I earned £32,000. It is possible.

54k mortgage 650 pm

Mortgage £750 a month and income 75k gross. No childcare costs . We are going to borrow more to fund an extension.