Page 11 | Age/Salary /Mortgage?

Whyohwhymewhy · 2023-10-13T21:31:27+00:00

I would like to buy a bigger house in a few years time but it would mean getting a bigger mortgage. Got me thinking what is the norm? I’ll go first 39 years old £3000 joint salary £250k mortgage

bungletru · 15/10/2023 07:57

0WLY · 15/10/2023 07:48

It's nuts isn't it! Such an unfair society. I genuinely think we are okay on 50k between us. Utterly disgusting that a household brings in 250K while others are hungry and cold. Meant to be a civilised society. Nobody needs that much money FFS

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In this economy everyone needs that kinda money actually
we’re just not lucky enough to get it. Lol

Holly2285 · 15/10/2023 08:03

38
Single
Take home £1700 per month
Mortgage left £129k

ButterMyParsnip · 15/10/2023 08:11

Well I've found this interesting. We seem to be below the MN average in terms of earnings but have a higher mortgage than many. I thought we would be doing better than most on the mortgage front. We live in the East Midlands and got on the property ladder 15 years ago.

Trampley · 15/10/2023 08:30

0WLY · 15/10/2023 07:51

Well done. Why do you need two properties?

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One is my primary residence and one is a rental property.

staycaysandvacays · 15/10/2023 09:17

@0WLY it's bizarre that what other people earn has provoked such a strong reaction in you.

We do not live in a communist society so everyone will earn different amounts. Some people will therefore earn much more than others. Lots of my peers/friends earn drastically more than DH and I but I don't begrudge them.

Your comments are naive and full of jealousy. Also, people are often paid those salaries based on their in demand/niche/specialist skills. To command those salaries, people focus on upskilling or doing professional exams etc. It's not rocket science

cherryade8 · 15/10/2023 09:53

Aged 43
Single parent
Salary 65k
£320k mortgage

noworklifebalance · 15/10/2023 10:19

0WLY · 15/10/2023 07:48

It's nuts isn't it! Such an unfair society. I genuinely think we are okay on 50k between us. Utterly disgusting that a household brings in 250K while others are hungry and cold. Meant to be a civilised society. Nobody needs that much money FFS

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Communism doesn’t work.
The vast majority of things we have we don’t actually need - TV, majority of clothes, restaurants, cafes, cinema etc
At what level would you cut off income?

ellie09 · 15/10/2023 10:24

30
Single mum
Net monthly salary 2.1k
Currently saving for mortgage. Realistically could only manage about 110k

willWillSmithsmith · 15/10/2023 10:25

0WLY · 15/10/2023 07:48

It's nuts isn't it! Such an unfair society. I genuinely think we are okay on 50k between us. Utterly disgusting that a household brings in 250K while others are hungry and cold. Meant to be a civilised society. Nobody needs that much money FFS

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It’s not unfair it’s just not communism. I fully expect a highly qualified and experienced lawyer to be earning significantly more than me filling shelves at the supermarket. Where’s the unfairness in that?

Isis1981uk · 15/10/2023 10:31

42 years old
£4350.00 joint salary
£195k mortgage

PhoneChargerCable · 15/10/2023 10:48

I don’t understand the point of this thread. Surely there isn’t a “norm”. Everyone’s situation is unique. Some people inherit property, or money, and don’t have a mortgage, others mortgage themselves to the hilt, some earn a fortune whilst others earn a pittance. There’s no norm. At 36 I was single, earned £42k per year and bought a small flat when the market had bottomed out. My mortgage was £127k. Change in circumstances, and now single parent on £30k per year part time but mortgage free. I do owe my ex half the value of the house when I sell it, and at that point I’ll have no home.

noworklifebalance · 15/10/2023 12:15

PhoneChargerCable · 15/10/2023 10:48

I don’t understand the point of this thread. Surely there isn’t a “norm”. Everyone’s situation is unique. Some people inherit property, or money, and don’t have a mortgage, others mortgage themselves to the hilt, some earn a fortune whilst others earn a pittance. There’s no norm. At 36 I was single, earned £42k per year and bought a small flat when the market had bottomed out. My mortgage was £127k. Change in circumstances, and now single parent on £30k per year part time but mortgage free. I do owe my ex half the value of the house when I sell it, and at that point I’ll have no home.

Understandably, people do not talk so frankly about money IRL and this has been proposed as one of the reasons for the gender pay gap.

decionsdecisions62 · 15/10/2023 12:18

However people were not asked to state their gender so that comment is pretty redundant

halfthesun · 15/10/2023 13:33

51 and 52. Monthly income is about 9k after tax. Bought five bed house in March. 850k left.

Will never pay off. Sell in 5 years and down size ..

noworklifebalance · 15/10/2023 13:45

decionsdecisions62 · 15/10/2023 12:18

However people were not asked to state their gender so that comment is pretty redundant

I am not saying this thread addresses the gender pay gap but the uprightness about money matters is a real issue in society
, an example of which is the gender pay gap. Regardless of whether it is men or women who are posting, the salaries quoted on this thread are a real eye opener for many.

RedPanda2022 · 15/10/2023 13:50

40
my take home net is approx £4000, dh approx £5000
no mortgage but almost all our money seems to go on childcare and school fees

…obviously I wish we could have fabulous free local state schools that could meet everyone’s needs (inc ds1 with send) and jobs that were flexible enough to not need childcare…not sure what we would do with our money then!

BurnoutGP · 15/10/2023 14:51

0WLY · 15/10/2023 07:48

It's nuts isn't it! Such an unfair society. I genuinely think we are okay on 50k between us. Utterly disgusting that a household brings in 250K while others are hungry and cold. Meant to be a civilised society. Nobody needs that much money FFS

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How is it unfair? If you wish to live in a communist state there's a few you can go to.
I am a relatively high earner. I have worked my socks off since I was 13yrs old. Excellent school grades. Challenging uni course. Huge uni debt. Long junior difficult training. And many years experience working to top of my field. Work 50-60 hrs a week in a very stressful demanding job and constantly working at home. You can go back and have my life and earn the same. Its not beyond everyone. Your post stinks of bitterness and jealousy.

UtterlyButterly2048 · 15/10/2023 16:16

Agreed @BurnoutGP Also, the top 1% of earners pay around 30% of income tax receipts in the UK. Not sure how that makes me “disgusting“ tbh.

Billoddiesbeard · 15/10/2023 17:40

56 years old
£87k joint pensions and rental income
£4700 left on UK house (approx 1 year left on mortgage)
Spanish house owned outright.

Frenchtoastie · 15/10/2023 17:50

28
joint 113k
185k mortgage

youdialwetile · 16/10/2023 12:54

48 and 60.
12,500 average take home monthly.
42,000 left on the mortgage.

Aiming to pay off mortgage on my 50th birthday!

Autumnalpiefortea · 16/10/2023 13:01

45
£2600
£125,000 left to pay 💰