Rent mortgage spends

[Iammetoday]

What percentage of household income do you spend on rent/mortgage?

what do you spend?

This is one of those of those questions that doesn’t really apply to other peoples situations other than your own - some will be happy bashing off their mortgage as quickly as possible, spending 60% of their income on it, whereas some will panic if £1000 of their £5000 income goes on rent / mortgage.

We’re fortunate enough to be mortgage free (not that this helps much)

@ShanghaiDiva about 40% - sorting mortgage and panicking as it's so much so looking for an udea of what others spend.

Knowing what other people spend doesn’t help you. However, am sure there are many posters who could offer advice on where you can reduce your spending if you want to detail your monthly expenses.

Currently 19% soon to be 40% due to divorce and interest rates.

about a third. Our income is about £6.7k pm and mortgage is £2.5k

Thank you, I can see where we can make savings just looking for a bit of reassurance I guess, ours has gone from 20% to 40% nothing we can do about it right now. Tighten the belt.

14% and will go up to 18% when our fixed rate ends next March (unless rates increase dramatically).

Currently 25% of our take home pay. Expecting that to go up to about 35% next summer.

My rent is over 65% take home as a single person. It's doable yet shit.

Percentages aren't that relevant on their own though.

I'd rather be spending 60% of a 10k take home than 30% of a £1k take home.

Also, my mortgage is less than a third of what I spend on nursery fees so it also depends on your other fixed costs.

27% as a couple but with only one income.

Thanks everyone,interesting read, I'm calmer today and it is what it is. We can afford it but as we don't have lots of other outgoings but it's such a lot of money! We will be having a smaller Christmas that's certain!

22% with our new mortgage rate.

Only a 4% increase a month so I'm taking that as a win.

This.

Plus the percentage alone is fairly meaningless as 25% of a £2000 income will be harder to manage with than 33% of a £6000 income.

Plus the effect of other essential bills. Eg childcare, travel/car payments or food could be a bigger expense than the mortgage.

Thanks, as I said not really looking for help or advice just being nosy to see the percentage others are paying. Thanks for answering

Was 15%, went up to 17% when we got a new deal last year. Seems low but we're in the nursery years so plenty getting spent on that instead. I'm going to feel like a millionaire once they're at school!

About a third, I earn c£3k and mortgage just over £1k.

Relatively cheaply around 10% on the mortgage

It's a low mortgage as opposed to us being big earners

33% but goes up to 40% when new fixed rate kicks in before year end.

We were mortgage free for 5 years, it was so bloody liberating. But the house was too small with dc soon hitting teenage years.

New mortgage is 17% and we will absolutely be working to have it cleared again asap.

45% of my monthly income goes on rent and household bills.

30%, single salary/parent.

We rent and I’ve just worked ours out and it’s 12% of our household income.

We’re lucky our rent hasn’t been increased for years. It used to be considered expensive but now it’s very cheap!