Mortgage, bills and disposable income

[Fivefourthreetwoonezero]

DH and I are about to buy a new house and I’m worrying about money because the new mortgage is more than our one right now. Is this manageable?

Joint income after deductions £4300
Mortgage and council tax £1250
Other bills including car tax, insurances etc £500
Usual monthly spending including food shop £800

Mortgage now has 20 years left but we will have to go back up to 30.

No loans or finance to pay. No childcare to pay but DC activities cost around £200 a month and petrol is around £200.

Looks fine to me, it still leaves around £1000 a month for other spending, savings. It depends on things like how many holidays you would want to go on per year etc though.

Start putting the extra cost of the mortgage into a savings account now. Then you'll get used to living with reduced disposable income.

And when you do move you'll have some money put aside to spend on the house :)