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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Age/Salary /Mortgage?

272 replies

Whyohwhymewhy · 13/10/2023 22:31

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

OP posts:
EmmasDilemmas · 13/10/2023 22:48

These threads aways spook me as our mortgage is 700k which seems to be very high when I see everyone else’s. 40yo, we bring in around 8k most months but varies as DH is self employed (and we have to save some for
his tax bill). We pay 2k for nursery though so will have a bit back when we reach a point of needing wrap around care only.

JaninaDuszejko · 13/10/2023 22:48

52yo
£6600 net
£200k mortgage
Surely it's the monthly repayments that matter rather than the total and those will depend on the term

Mydogmybestfriend · 13/10/2023 22:50

32
£7600 month
£680k mortgage

MediumDwarf · 13/10/2023 22:51

35F & 39M
£108k combined gross income
£500k to go on our mortgage. Fixed rate is about to end :s

No intention to move unless we have to. Will look at all options. We planned for this to be our forever home.

Mydogmybestfriend · 13/10/2023 22:51

EmmasDilemmas · 13/10/2023 22:48

These threads aways spook me as our mortgage is 700k which seems to be very high when I see everyone else’s. 40yo, we bring in around 8k most months but varies as DH is self employed (and we have to save some for
his tax bill). We pay 2k for nursery though so will have a bit back when we reach a point of needing wrap around care only.

Depends on the area you live in. I live very close to London. Some people live further out which is why their mortgage is cheaper but houses probably not much bigger or bigger

Mydogmybestfriend · 13/10/2023 22:52

I mean my house being 670k is probably not much bigger than someone with a cheaper mortgage due to areas or the cheaper areas have a bigger house due to area
If that makes sense

sweetsoul40 · 13/10/2023 22:53

37
£6,800 joint per month
£275k left

FunnysInLaJardin · 13/10/2023 22:53

EmmasDilemmas · 13/10/2023 22:48

These threads aways spook me as our mortgage is 700k which seems to be very high when I see everyone else’s. 40yo, we bring in around 8k most months but varies as DH is self employed (and we have to save some for
his tax bill). We pay 2k for nursery though so will have a bit back when we reach a point of needing wrap around care only.

that is one huge mortgage! The most we have borrowed was £450k. However if we were to buy our house now, we would need a loan like that, so you live with it, keep paying it off and bit by bit its becomes a small percentage of your income.

When we bought 20 years ago and the DC were tiny, I basically paid for the mortgage and child care from my wage - around £3.5k pcm.

Now no need for child care and the mortgage is about 50% of my wage!

gotomomo · 13/10/2023 22:53

49
£7k joint salary
No mortgage

Heatherbell1978 · 13/10/2023 22:55

Both 45
Monthly income £7.5k
Mortgage £240k but we just released £75k which is sitting in savings accounts to use for school fees
Decent pensions

Ineedwinenow · 13/10/2023 22:56

42 & 51
12-14k per month (we run our own businesses so amount varies)
330k left / new monthly DD thanks to the interest rise = 2200 p/m
18 years left

muddlingthrou · 13/10/2023 22:56

I do feel like no mortgage people are just replying to be smug...

35 yo and DP is 41. Joint mortgage of over £400k and joint income of about 7k pcm. About to move somewhere cheaper and hoping to shave at least £100k off our mortgage, but we'll see!

DaisyChain16 · 13/10/2023 22:56

31 + 31
£7000
£300000

RAFOfficer · 13/10/2023 22:56

45
Take home about £3.9k
About £65k mortgage left, paying £720 per month with just under 10 yrs left, but I do chuck overpayments in every now and then. Due an interest rate rise early next year so trying to mitigate that!

ChesapeakeBay · 13/10/2023 22:57

HipTeens · 13/10/2023 22:42

40
I'm not sure, it varies as we're self employed but around 3k pcm
310k
😪

Your monthly repayments must be a massive portion of your take home?! How do you manage?

Curiosity101 · 13/10/2023 22:58

33
Joint £200k
Mortgage £189k

Damonalbarnsbigtoe · 13/10/2023 22:58

45

6k monthly

155k mortgage and overpaying each month

Would have liked a bigger home but it is still a 4 bed in a very good area and I want the mortgage paid off!!!!

Fantapops · 13/10/2023 22:58

26 & 29
£4k take home
£164k left on mortgage

Curiosity101 · 13/10/2023 22:59

(yearly take home, sorry I only looked at the first few messages and they were yearly gross take home, not monthly)

23Oct · 13/10/2023 23:00

muddlingthrou · 13/10/2023 22:56

I do feel like no mortgage people are just replying to be smug...

35 yo and DP is 41. Joint mortgage of over £400k and joint income of about 7k pcm. About to move somewhere cheaper and hoping to shave at least £100k off our mortgage, but we'll see!

32 in london
Single income £3500 take home a month
£0 mortgage (paid off)

GrinWink

Feliciacat · 13/10/2023 23:01

36
Take home pcm £4500
Mortgage £130000

Coffeeebean · 13/10/2023 23:01

27
Joint income ~ 6k/month
No mortgage - BUT we currently own a flat and will likely need one at some point to upgrade to a house...

Kinneddar · 13/10/2023 23:01

Age 49
Salary £2600
Mortgage £72000 - £250 pm

muddlingthrou · 13/10/2023 23:01

@23Oct - be honest, how have you done that in London?! My dream!

Gmama23 · 13/10/2023 23:03

26 & 28
Joint monthly income 5k
Around 140k left on mortgage