To ask how much your mortgage is?

[idontlikemybutteflycushions]

I think I need a reality check. These rates will add £500 on to our mortgage. I’ve had a number in my head that I never wanted to pay more than mortgage wise and now ours teeters on the verge of that. Affordability for the mortgage says we’ve got still a lot more wiggle room but those numbers feel crazy

so if you’re in your 20s/30s how much is your monthly mortgage and if you don’t mind your household income?

Joint income of £4850 per month. Mortgage just gone up from 650 to 780, fixed it for 5 years at 4.24% back in April.

£385pm, income varies but around 23,000

That’s cheap! Where do you live?

ours was £700 before this and will go up to £1200 and we earn about £5300/£5400 after tax and deductions. It just seems huge now. We needed some additional borrowing for some repairs too. Definitely kicking that can down the road. But if I’d have taken the additional borrowing this time last year the mortgage would’ve been under £1000

Joint income £7000, current mortgage £1500. Expecting this to go up to £2000/£2500 The real killer are nursery fees which for 2 full time 2500. Luckily we don't remortgage until one's in school.

Joint net income around £3,800 p/m mortgage is around £900 currently but we had a fixed, I’m terrified of the fixed rate expiring soon and the rate going up!

Joint net income circa £11,500. Mortgage £1150, on a 5 year fix since February. We generally overpay an additional £1,000/month.

I’m 33, our mortgage is £627 a month (148k, 28 years left), not sure what our current household income is as I do locum work (so no sick pay or holiday pay) and my wife does a few extra days at another hospital watch month, I would guess around £70k for me and her salary is £45k, but her extra job adds on an extra £7-10k a year, so around £120-130k maybe. This will drop to about £100k once I stop doing locum work and go back to the NHS later this year.

We got lucky tbh, we live in the midlands so house prices aren’t too crazy and we bought a renovation project during brexit for £165k (was originally priced at 190k, but market was slow so it got reduced three times), remortgaged after two years then fixed for five at around 2.5%. Wouldn’t be possible to get the same house in our area now for any less than £250k and obviously mortgage payments would be a lot higher because of interest rates.

Yeah our nursery costs are around £800. Awful. Not sure if you know but all working parents get 15 funded hrs for over 2 yr olds from April 24

I’m midlands too and whilst not london prices, areas around Birmingham (that you’d want to live in) are crazy expensive. I saw a nice little development by walsall the other day and wanted to have a nose and it’s 4 beds starting at 700k. My jaw hit the floor

Wow that’s a lot of income per month, what do you do and are you hiring lol?

@idontlikemybutteflycushions north west I've lived here a while so from memory my mortgage now is about 85k

Joint take-home of £3600/month, mortgage is currently £650/month. We’re fixed until Oct 2026 on a very low rate, so hoping & hoping that rates come down a bit before then.

Income is £4300/month, mortgage is £650 but we overpay. Ten years left.....

Not looking forward to the end of our 5yr deal in 2025 as it coincides with DC2 going to uni 🤦‍♀️

H gets commission so income varies (I work part time 3 days) and income is around 4kpm.
Mortgage payment is currently 490pm. Fixed til next year. I'm expecting our payments to go up around 180pm but we can manage that. I feel very happy we didn't take on a bigger mortgage like some people I know who are now panicking. It's necessary in some areas but not here.

even the most conservative forecasts seem to have rates reducing in 2025 so you, should be ok. I hope so as I’m doing 2 years too. I can’t be paying 6% for 5 years 😅

I think you’ll be fine! I was reading up yesterday and 2025 is being forecasted as things stabilising again

I never think these threads are particularly representative. Lots of people in London are paying 2k in rent.

North east, 195k mortgage with 30yrs left, 48% LTV

Just about to move from 1.9% to 3.9% (locked this 6 months ago in Feb)
Going from £720 to £920 so increase of £200. Looking at current rates the same mortgage is 5.94% / £1161 so nearly £450 increase

£334 per month. Joint monthly income around £2700. We only took out a 75k mortgage, tiny compared to most people I would imagine.

Joint net income circa £11,500. Mortgage £1150, on a 5 year fix since February. We generally overpay an additional £1,000/month.

Where do you live for such high salaries in your 20s but cheap house prices?

Joint income is £4000 and mortgage is £900

Income £5.5k per month, mortgage £870.

@Solsticesummer incase the rates go up again, lock a deal now and don’t execute. You will have 6 months till it expires. You can get a deal your current provider 6 months before the end of your deal abs sit on it too. Give yourself options

@idontlikemybutteflycushions I'm not so sure everything will be rosie again in 2025.