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?

I'm on a fixed rate.
How do I work out how much it would be if I was on SVR?

Income is about 5k (I think!) and mortgage is £1100. Fixed for 10 years at less than 2% though. Might sell up and downsize after that.

The nursery fees are like a second mortgage though

The money saving expert website has mortgage calculators that can give you an example.

It was £1,398….. then Liz Truss happened and it’s now £2,015. It gets paid but we’ve fairly obviously had to tighten our belts in other areas.

Joint income £87k a year
Mortgage £785, going up to £1110 monthly in October. We have £200k left. Value is £400k for a large 4 bed house.
Our childcare bills are £1000 a month and because of the size/age of our house our enegery bills are huge, usually £700 a month.

£1100 a month. 100k household income.

Income approx. £4300 pcm, mortgage £356 but only fixed until Jan and will go up to around £500 then. However, we want to upsize for a drive, garden and bigger kitchen in around a year and we’re looking at around £1100-£1200 then, provided rates don’t go too much higher. If they do, we’ll stay put a bit longer and save. Not sure what to do about the mortgage from Jan given that we want to move!

Same situation here for DH and I.

35f and 39m with a combined monthly income of £9k

Bills/ Commute £1k
Food £400pcm

Currently our monthly mortgage payment is £3k but will now likely rise to £5k pcm when our fix ends in April.

We were about to try and conceive but we have accepted this weekend that we just can’t afford a child. The increasing cost of everything has knocked out our ability to save much, if anything. Very sad as I am 36 in Jan and our time will have run out before this economic crisis is sorted.

I’m sorry you’re in this situation. 2k extra is a lot!
If I were you, I wouldn’t make this stop you having a child though. You could downsize/move to a cheaper area or move to interest only for a period. This rate level is supposed to last about 1/2years. Then drop slightly.
You could regret this decision in a few years given your age.

@MediumDwarf I would recommend TTC still - the economy could look very different in 9+ months and it could realistically take longer than that to have a baby. You can always downsize, extend term, take a lodger etc but your fertility won’t wait!

Mortgage £1800. Income £8500. Sounds idyllic but lots of kids and one with high needs that properly cost. I’m going back full time to mitigate …though may throw other things out of kilter. I know we’re really really lucky really by comparison to many. Let’s hope it doesn’t go to 17% like it did for our parents😱😰.

Joint income £7500 net a month. Mortgage is £850 a month, fixed for next few years. Midlands based. Dreading coming off fixed.

We earn £4,500 after tax. Mortgage is £1600. Bills, travel, food £1100. Which leaves £1800. We don’t have any savings but also no debts except for mortgage. Our mortgage is fixed until Nov 2026, we will have to sell if interest rates are not back around our current rate of 3% by then.

Our income was £1200 higher than it currently is until recently as I had to give up work due to ill health. Not entitled to any benefits due to husband’s salary. You never know what is round the corner!

We’ve just switched to interest only under the government’s mortgage charter which allows you to switch to interest only for six months without any adverse effect on your credit rating. This is just so we can build up some cash savings. I’m not particularly bothered about paying off our mortgage in full now as we’ll
probably downsize way before the end of our mortgage term (which currently goes up to age 65)

Single parent, income after tax is £3200 and mortgage is £928. Fixed last year for 10 years at 2.44%. I put £250 in a 5% savings account per month. Once credit card paid off I’ll overpay by £100.

It’s currently £900, when the new rate kicks in it’ll be £1400. We will barely have anything left, council tax also went up by 4% which costs £300 per month, we also need full time childcare plus all the other shitty bills.

Lol, why even bother replying? You’re clearly not in the same position as the OP therefor if zero help.

Jesus 40 sqm. !!! Our storage shed is 36sqm. ☹️

Combined monthly income £3.2k , £209k mortgage paying £878 per month. I feel like we are squeezing ourselves compared to others on this thread

@florentina3 yep, plenty of houses here in that price bracket. One house down the street (fully detached, tiny garden) sold for £500k and the new owners have had to gut it throughout 😐 we genuinely have had a steal with ours, the previous owners wanted £80k but only told us this when we met as the price wasn't advertised, we apologised as the largest mortgage we could get was £70k and they seemed to like us so they accepted £68k (The other £2k was to buy a headstone for my family).

In the NW. Takehome is about £4.5k a month, mortgage £539 a month, house £135 at purchase and worth about £175 now - fixed for about 2 more years (expecting it to go up obv so planning ahead)

I'm planning to remortgage to a longer term to bring the payments down per month when I next renew, but over pay when I can

NW, small mortgage (£75k left of £125k) at 1.1% till Oct 24, overpaying what we can (rate set at £485 PCM). Combined joint income is £2.5k PCM after tax. Doing ok but dreading the mortgage going up next year

Joint income £7,250 a month.

Mortgage £2,650 (have just renewed our 2 year fix at 4.36%).

We pay for 4 days a week nursery (don’t qualify for 30 hours, understandably) but mercifully that ends in Sept. But we’re overdrawn every month.

Joint income 6.5k, mortgage 1.8k but overpay currently to 2.2k, deal ends in June next year expect mortgage to go to around 2.6k without overpayment but DH should be getting a payrise to cover it hopefully