To think we could manage a £2200 mortgage payment

[Dyr]

on a take home pay of £4k.
After purchasing the house we would have £40k - £50k left in savings / investments.
The repayments would be about £2.2k per month but our combined take home would be £4k, and due to the jobs we are in its unlikely to increase. late 30s/early40s with 2 kids (primary school age)

It's impossible to say from your original posts I think you need to say what your outgoings are. Are they comfortably under, say 1300 a month? That would give you 4,000 - 3500 which means you have 500 for emergencies/savings.
Another point to consider is will you be on a fixed deal - what happens if your mortguage increases further?

the interest rates and deals we are used to were historical lows
todays rates reflect more the normal but it can certainly increase
it’s not can you afford it now it’s can you afford it when it goes up

£63 gives you zero wiggle room. Council tax increase alone could wipe that out

Interest rates have just been put up again.

With all due respect, it sounds a ridiculous amount. Our household income after deductions is similar and we have paid our mortgage off so only have to cover others bills and savings. We aren’t swimming in money! You would be living off £1800 for all other bills and expenses? And is the mortgage so high because of the area or is it a large house? - larger takes more money to heat, and maintain plus the council tax would be higher. Children don’t get cheaper either!

I have a take home of £6300 and I struggle to pay £2400 a month. I have three children, two of whom are teenagers. Costs rise when you get out of primary. No holidays abroad for foreseeable and not managing to save anything each month - had to put car repair on credit card etc.

I do a very detailed budget each month and there is barely any wriggle room in it.

You've got to realise that's not feasible surely

Could you keep to one side an emergency fund of around 6 months of expenses then put the rest of your savings to the mortgage? That may reduce the repayment. I wouldn't be comfortable with a mortgage payment any more than 25% of take home pay personally.
The Dave Ramsey method of finances is working for us. Lots of advice on there but it's not for everyone. May be worth a look though.

How are you broke on 4.4k with that mortgage? Sorry but that must be a crazy definition of broke

I could easily manage that with money left over to save. My only worry would be if one of us lost our jobs but you have a hefty amount of savings to cover that. Huge numbers of families spend a higher proportion of their disposable income on rent.

USE half of your savings to bring down mortgage!

Get a side-hustle! ( teaching online, dog-sitting)

No, you won’t be able to manage with such a high mortgage. Can you look at smaller/ cheaper properties?

I think a 1500 mortgage would be more reasonable, extra 500 for emergencies e.g breakdown, birthdays etc.
If you don't spend it you can put it away every month to top up savings.

I had a mortgage that was 60% of my net salary when I was in my early twenties and single. It was absolutely miserable and I literally just paid my bills, ate the cheapest foods and worked all the hours.

No way would I voluntarily live like that now especially with young children. There will be unexpected expenses and things you want to do but won’t be able to and I think you would regret it very quickly.

What's the LTR op? £50k savings is huge ti have- you should use part of them to help.

£63 per month is not doable.

No way would I take on a mortgage of that size with your take home pay.

Absolute madness!
Our take home is £6,706 and mortgage is £1,027 likely to increase soon and it's let's us be comfortable.

Not sure why you would want to stretch that far!

Problem with asking on here is you'll get a hundred variations on the answer due to everyone tailoring it for their specific circumstances.

Only you know whether that'd be tight or not.

I'd get a spreadsheet and calculate exactly what outgoings you have and therefore what surplus is left over each month (remember to budget for things like Christmas, holidays etc).

The poster you quoted does have a mortgage.
But, it's ok AFFORDING a monthly mortgage, it's another thing having large enough savings for a deposit and the process and getting an offer for one and being able to get one large enough for a suitable house.

We're in a 3 bed with 3 kids. Market round circa £900.

A comparative property in our area to buy is 220k. Down payment of 22k. Mortgage of 1215.

For a rent of 1215 I could get a four bed.

A mortgage of £900 would get me a property around the £165 mark which would be a 2 bed.

But the costs are very high with a larger home on bills, renovations, council tax etc. Cleaning gutters, fixing the oven, buying a new fridge, repainting, boiler service, garden maintenance etc etc.

Combined income of £7.5k here and that would be my absolute limit for mortgage (currently spend £1.5k on mortgage).

That won't even cover a flat tyre, busted door lock or broken washing machine. And don't you want to carry on saving?

This is just too tight for comfort, leaves no leeway even for an extra couple of pairs of kids shoes.

Absolutely not manageable at all. We have the same income after Taxes, £4k in the bank come pay day. We have 1 DC. Our normal day to day expenses come to £2.5k, mortgage come on top of that. We have a modest lifestyle , 20 yo car, camping holidays, abroad once in 5 years, hobbies for all 3 of us but not 100's each month. I do save £1000pm for big annual bills Repairs/Christmas/insurances. But if I had that mortgage payment we would have to say goodbye to all of that. Your safety net savings will disappear in that scenario paying for anything that you £63 doesn't cover.

However it isn’t clear what “deposit” the OP is putting down (she could have half a million in equity or it could be a 10% deposit as a first time buyer)
The mortgage could have two years left to pay or 30 years left to pay.

Personally, if I was coming close to the end of the term on my mortgage, I’d be happy to say condense 5 years into 2 years; have huge payments for a short period of time, and then be mortgage free.