Would you be comfortable?

[Pahoehoe]

One of you brings home £500 per week and one £1195 per month.

Car payment is £340.

Would you be comfortable with a £750 mortgage payment?

£500 per week= approx £2000 per month, so total income is over £3k...£750 per month seems fine. Unless it was a typo and you meant £500 per month. In which case it seems a bit tight to me, depending how high your household bills are and if there are kids to feed etx.

I would be thinking carefully about my priorities if I was happy committing £340/MTH on car payments but struggling to justify £750 for a house... that is a huge car payment!

We’ve had the car for 4 out of 5 years it was taken over and was probably a silly decision at the time. There’s some negative equity in there from previous car. Will keep till it’s paid now.

And yes it’s £500 per week but didn’t want to just say £2000 per month as some months 4 weeks and some months 5 so not quite accurate I didn’t think.

I’m not sure if what I’ve said makes sense. It was a 5 year agreement and there’s only 1 left is what I mean

So £2300+£1195=£3495 per month. £750 sounds very very manageable if you don't expect much change in circumstances (e.g. the higher earner becoming a SAHP).

I’ll be comfortable with that. That’s around 22% of your total income so definitely doable.