Age/Salary /Mortgage?

[Whyohwhymewhy]

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

33
Joint £200k (£8.3k take home monthly after tax, pensions etc. Pensions contributions are very high to avoid losing tax free childcare top up)
Mortgage £189k

At 37 I was single parent, 2dc
£2600 pcm incl salary, child maintenance and tax credits
£81500 mortgage

At 47 I'm still a single parent
£2600 pcm
£20000 mortgage (overpayments as much as I could plus £30k inheritance)

42
£7K joint income
No mortgage, sold house last year £80K invested

Husband just left me

51
£3500
£291000

Just bought him out. HELP!

@Heatherbell1978 how did you release the £75k - was it a further advance?

45
£8.6k pcm
£425k-ish left on mortgage

50
13-14k net pcm ( jointly)
550k mortgage left 😬😬😬

Take of two halves - a lot of long hours to climb the ladder quickly and boost my salary, and lots of saving

Then, honestly, some inheritance. I come from a double working class family - both parents raised by their parents working multiple minimum wage jobs, but everyone scrimped and saved without cars and holidays etc, and combined with some market luck managed to boost our family up the social strata. My mum still doesn't know how to spend money so just offers it to me!

41 and 42
Joint income 3.5k
£128k left on mortgage but shared ownership so only owe 50% and pay £430 rent on the other half

Always feel scared when I read these. The vast majority have low mortgages. Living in the south east, just not possible for us.

32 and 33
Joint take home 9.5k per month
Mortgage 530k 😱

Planning to start overpaying massively soon!

@Biscuitsandpizza How does that mortgage feel on your salary? I guess there's probably about 100 variables but me and DH considered buying a bigger house which would put us in a similar take home and mortgage bracket to you.

Yes but you’re still young and your take home pay is already very impressive. I don’t think you’re in a bad position.

33
Joint around 5-6k - variable and can be increased if needed
180k left, house worth 300-350k possibly more but the issue would be finding a buyer in our area willing/able to pay it. We paid 230k for it at the end of 2012.

Don't think we will move unless we can find the dream home. Long term we hope to build but that will likely be 10 years away.

39
Take home £1.9k per month (£30k gross salary)
Mortgage £100k, £500 a month repayments, I overpay by £100

41

Salary 32k

Mortgage 0

DP salary 48k

39 & 40 (nearly)
No mortgage (due to my past illnesses) but just spent ALL savings & money on our house & owe a bit in directors loans to pay for it so -£50k instead of mortgage
£6k net income
No pension/life ins for me so living of DH on the future 😝

@Curiosity101 It's fine, but we remortgaged at the end of last year and were able to get a reasonably low rate (<4%) so fixed for 5yrs - I've noticed some posts on here with a lower mortgage amount, but higher monthly payment - it depends what rate you can get really. They do look to be going down a bit, although not sure you'd get anything for sub 4% yet.

Not smug, just older. I bought my first house at 24 so it's not particularly odd that more than 25 years later my mortgage is paid off. Every time we've re-mortgaged, we've kept the end date the same.

38 and 54
6.4k joint

£450k mortgage (moved to dream house this year so pretty high)

41
Me - £0
Husband -£3k
Mortgage £210k

Pensions are good.

36
£16k joint post tax income
mortgage of £950k (only bought a few months ago)

43 & 47
12K a month income
750K mortgage
4500K a month mortgage repayment

64
Varies
£0

36
Joint take home of around £7k month
Mortgage £335k which terrifies me, overpay currently by £550/month to try to get it down but we'll never need to move from here

53
Single income varies from 2.5k to 10k (on a good month)
Paid off mortgage early last year

39 + 40
£3500
£155k

We just got a 5 year fix on a 28 year term. £770 pm, but we overpay when we can. Current total overpayment is £10k.

House is worth around £330k, but it's 2.5 bedrooms and we can't decide whether it's our forever home or not. 5 year age gap, so 1.5 bedrooms might work... 🫣