How much a month is your mortgage?

[Beakyok]

Apologies first for such a personal question but feel it's not something I can ask friends in RL!

Basically my husband and I are in our early 40s looking to buy our first home. We have a substantial deposit but I'm worried the monthly repayments of £1500 is too much on a monthly income of £3500.
Have we got our sums wrong?

Sorry to actually answer your question £750 on a combined 3k income.

7.5k take home, and 2k mortgage, gulp

I'd say at 43% of your income is on the high side, however it depends on your other outgoings. Ours is about 20%o of our income but we have high childcare costs, and other higher outgoings of our choice e.g. holidays.

Net income £3600. Mortgage £700 14 years to run.

Our joint income is around £5k... mortgage £1700 + childcare of £1200 then all usual bills.

We have earned and paid very similar amounts to you in the past but have had bonuses to overpay the mortgage so it wasn't for very long. I wouldn't have wanted to do it for too many years though - it can feel a bit restrictive.

It really depends on your other outgoings...?

What did you decide to do in the end OP?

I think the numbers sound ok if it's just you two. If you have or are planning children, then I'd look for a cheaper house - childcare or not working to look after children really adds up.

We're uber cautious so current mortgage is 2.1k despite income well into 5 figures.

I am currently looking to buy a house on my own after separating so this is interesting.
My net income on my own is around £2100 a month and I am thinking about mortgage payment no bigger than £500 ? That leaves me around £1600 to cover all other usual bills and car finance of £150 for me and my dd. This feels a bit worrying but I couldn't get anything for less and don't want to pay extortionate rent because I'll have even less

Mortgage and council tax just under £1000, combined income of around £4500

Combined income 4300 mortgage 470. Dp has the mortgage at the moment and I don't pay towards it. We are looking at buying together with minimal or no mortgage. My last mortgage was £720 income 2500.

Ours is £1384. We have about 15 years left on a mortgage balance of about £240,000. Property worth £400,000. Our combined income is about £4900 a month. Hubby was 44 when we took our mortgage out. We've got about £160,000 equity in our house so we have often thought about downgrading and paying off a big chunk of the mortgage. Our outgoings are quite high - gas on our property is currently £207 a month!! (300 year old 'longhouse' with single framed windows so not very economical). We also pay off a loan, car finance and will have childcare again from next year when baby is born so that'll be another £500

Mortgage £320 with 15 years to go. Not good when already in mid 50s.

Joint income ~ £4200
Mortgage £618
We're expecting our first child, so we're very happy that our mortgage is pretty low. It'll make my maternity leave period easy. We're 34 and 31. We could have chosen a much cheaper mortgage, but we chose a 24 year mortgage, so we have a high payment for our mortgage. But, it means that in our early mid 50s our mortgage is paid off. We had a high deposit on the house (bought for 245K, deposit of 110K) which has also helped keep it low. My mom is in her 50s and is trying to decide the same thing, wants to buy a flat, but worried about having a mortgage into her 80s when she'd want to retire.

I'll add, I'm at the beginning of my career, and he's in the middle. I expect my income to rise significantly by the time I'm 45-50 before it stays constant for years.

I've just bumped this thread
www.mumsnet.com/Talk/legal_money_matters/1987219-SPREADSHEETS-for-Debt-Control-Budgeting-Mortgages-etc?watched=1&msgid=71578160#71578160
which has the calculators you need ....