Mortgage costs

[Lorijune]

We are thinking of a house move next year and have fallen in love with a house which blows the budget a bit. Our mortgage would be £1350 a month and we earn £5600-6000 a month. On paper it sounds fine and we don’t have any other loans or debt but I know how expensive life and kids are. Does anyone service a mortgage this size on this type of salary and does it work and leave money for fun/holidays/clothes? We are in our mid 40s and wonder if we should be downsizing rather than upsizing! Any thoughts welcome.

Our income is just shy of £6k and we have a £1500 music.

We don’t have loads of money kicking about but we’re more than fine.

@Sticktoslimmingworld no she’s living in a student house in Nottingham. She couldn’t find a part time job there but she had a bit of money (a few hundred pounds) left over from her summer earnings, she came home to do 3 shifts in reading week and she’ll be doing some work over Christmas/Easter etc.

@crazycrofter thanks we have said to our son he can delay finding a part time job the first year there is non anyway as he has looked too. He struggled getting anything in the summer before he left too because he was still 17 til the end of August and everyone just kept saying come back when your 18. Hopefully, this summer he will be working and saving ready for his second year.