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.

@Decaffe - we bought our 4 bed detatched house in February last year for £204,000.
With our £30k deposit (equity from our first house plus £12k savings) our mortgage is £717 per month. We are under .25 mile from n outstanding primary and secondary school.

Location is the key - We are in the North east, but our £55k joint earnings mean we live quite comfortably (well, it's a squeeze right now with £1k a month nursery fees, but in 18 months that'll more than halve)

Rent is 770. I have about 20k a year coming in.

What sort of jobs are available in your area @QforCucumber ? Does there tend to be anything in programming/financial services/academia? Because I like the sound of swapping my 2 bed mid terrace for a 4 bed detached and getting change 😫

£1.1k mortgage on £75k household income. Lucky enough to be under 50% LTV otherwise it would be a lot more expensive (live in the SE)

@TuftyMarmoset I work in a local accountancy practice, DH is a trade supervisor in the local council. We are around 6 miles from Teesside University - which I assume would have similar roles. Our salaries are around £27k each which I know some people wouldn't get out of bed for, but when the living costs are as they are (and the commute is only 15 mins as there's no 'rush hour') then I'd not change it for the world!

www.rightmove.co.uk/properties/105406727#/?channel=RES_BUY example of what you can get

We pay £730 a month and household income is around 45k. Youngest goes nursery one day a week costing £200 a month

Thanks @QforCucumber maybe I should seriously consider moving. That house you linked to looks like it’s on a plot two or three times the size of mine! It’s crazy

My income £62k, partners £32k, mortgage was £700, but about to remortgage after our deal ends and will be dropping to about £560. No childcare costs.

We earn about £32k pa. Our rent is £700pcm and we have childcare costs of £1000 pcm. Money is tight as we have debt to pay off. We had a tiny flat that we had to move out of and the mortgage for that was £250pcm. Rents are insane. While we were looking for our current property houses were going within 30minutes of being advertised/ landlords were cherry picking tenants and tenants were offering way above marketed value to get a property.

We could have remortgaged to be paying approx £720 - but are paying £920 in order to be on a completely flexible deal - as we want to move before our fix is up.

We're on a combined income of £128k.

I imagine our mortgage will be a lot higher when we move, as we really need to upsize. We are in a tiny flat at the moment

@TuftyMarmoset

Thanks *@QforCucumber* maybe I should seriously consider moving. That house you linked to looks like it’s on a plot two or three times the size of mine! It’s crazy

Me too. We pay more than most here and earn less. Its not working!