to think I would struggle to rent cheaper and this mortgage is not expensive by today's standards?

[menui]

I’m in a 3 bed house with garden and drive, open plan kitchen/diner, two reception rooms and two bathrooms. Mortgage 1k a month. AIBU to think pretty much anywhere in the uk to rent would be more than this and as mortgages go it’s not too bad either?

(Obviously somewhere of the same size, I am sure a studio might be cheaper for instance)

AIBU to think pretty much anywhere in the uk to rent would be more than this and as mortgages go it’s not too bad either?

Of course you are. Plus it is an irrelevant argument, the prices in other parts of the country don't impact your living situation.

as mortgages go it’s not too bad either? Again, pointless comment. Plenty of people have less expensive mortgages, then there are people who have much more expensive mortgages. What really matters is your mortgage as a percentage of your income.

Where I live, that would just about rent you a tiny studio flat (SE, not London)

YANBU but why are you asking? Is someone challenging your choices?

I rent a 3 bedroom terrace for £475pm, my rents gone up £50 over the last 5 years (I'm sure the LL would like to put it up more but they won't because they're bloody lovely and currently aren't charging more than our housing allowance amount!)

Yes, literally anywhere in Uk is over a grand for a 3 bed house

Would be £3k where I am

It certainly wouldn't be possible in my part of the SE.

Average rent for a 3-bed place here is now over £1800 a month.

Although reading the OP again, I don't have a drive, or really a garden (very small patch of concrete), one reception room one bathroom/toilet

That would cost you about £700 a month in a nice area round here.

I'm in the Midlands, most 3 bed on a council estate round here are between 900-1000, none council estate is 1200+. Looked at mortgage options this week and would be paying around 900 for a 3 bed

@Marwoodsbigbreak yes I just had to go part time so my mortgage is now 40 percent of my income. I’m being told to sell.

I'm sure I saw an article that said for a family home there's only about 4 places where you could get it for less than 1k

Who is telling you to sell and on what basis?

That count be right, I could find more than 4 places near me that’s under that.

Most are about £800 a month

Told by who?

A mortgage payment of 40% of your income, plus all the bills of running a larger property on top, is very, very high.

Don't be ridiculous, of course there are more than 4 places in the UK where you can rent a 3 bed for 1k.

You will have had to find a deposit
You will have to pay for repairs and maintenance
You don't have to pay for safety checks etc
That's why it's cheaper than a rental of similar type in your area

The biggest difference is whilst your mortgage might be £1000 at the start, it will decrease in size whereas your rent is liable to increase in size.

Thus it's probably worth paying slightly more on a mortgage than rent anyway if you had a choice.

I rent a 2 bed terrace for £1100 so it seems very good to me, but it's all relative

Told by who, ffs?

If it's 40% of your income, that still leaves you with £1500 a month to live on, which may be a stretch if you have kids, but would be plenty for a single person.

I guess it depends on who is telling you to sell and why?

Are you in arrears with your mortgage?
Paying 40% of your income on just the mortgage does sound a lot to me TBH - but what about you - do YOU think you can afford it - have you made a budget plan.

Whatever everyone else is paying is irrelevant - it's what you can afford that counts.
I'm sure there are plenty of places in the UK where you can rent something cheaper - but really thats not the point.

Our mortgage is 500 a month, 3 bed semi, back garden , driveway, 1 bathroom, dining room...., not everywhere is £1k!
though admittedly we fixed for 5 years so it will likely go up when we renew

I rent a three bedroomed semi, rural location, large garden, driveway big enough for 4 cars £700 a month.

We rent a four bedroom house with a lovely large garden, 2 balconies since it's spread across three floors and it has a drive big enough for two cars. It's in a well sought after place in the north. We're very lucky, to buy it would be about £1200-£1400 mortgage wise 🫠

Realised I didn't say how much for, our rent is £700

Around here it would probably cost you around 1100-1200 to rent similar, a bit less if you could give up the garden and the drive?

Do you need a three bed property with a garden? Is there any scope to downsize to something cheaper?

Is it just a short term dip in income you feel you can ride out?