What % of your income is your mortgage?

[User135792468]

I have seen similar threads but they all tend to either mention a specific amount for the mortgage (which doesn’t take into account income) or a % (which is hard to understand or compare if you don’t know the age of the person posting).

Therefore, can I ask what % of your income was your mortgage when you were either mid 30’s or when you had young (pre school/ primary) children?

We fall into both categories and currently pay 14% but will soon move and go up to 30%. It feels like a big jump so am a bit nervous, even though we have done the maths many many times and know it will be fine.

Now 0% days we own outright. mid 40's.

But when we had a mortgage it was around 25% with 2 average salaries and slightly overpaying. (No childcare cost at that point)

Just worked ours out and its 25% but that includes a regular overpayment. We are mid 40's.

18% mid thirties one child nursery age. Surely this depends where you live? Mortgages will be lower in some areas but not necessarily salary eg most public sector jobs are on national pay scales. If we moved north we could get a house this size on 10% of joint salary but wages wouldn't change as we both work in the public sector.

Ours is about 20% now, will go down this year hopefully if I get the pay rise I'm hoping to, but will go up again in a few years as we need to mortgage out HTB so our mortgage will increase, at current interest rates I predict it could be up to about 25% (quite apprehensive about interest rates!). But that said as we earn much more now we would have a lot more disposable income after a 25% mortgage payment now than we had a few years ago when our mortgage was only about 15% so it's not really possible to look at percentages on their own. We are early 30s still paying some childcare with primary school children, had our children quite young so hoping to over pay in our 40s when kids are grown!

We do overpay so we actually pay 25%

21%. We're mid 30s with a 1 year old

14% of our joint net pay excluding bonuses. Still have a hefty chunk to pay but hoping to pay extra once we've paid off some debts.

Forgot to say we are early 40s with one child.

Our mortgage is about 35% of DH's income. I'm a SAHM to 14 month old twins, and before we had them (when I was working) the mortgage was only about 15% of our household income. Things are a bit tight now but we are managing fine. I'd be making a loss if I went back to work and we had nursery fees to pay!

10% of our joint income for a 4 bed house. We got lucky with equity in our previous home which kept it low.
We kept it low as we wanted it to be easily affordable if one of us were to lose our jobs

9% but we overpay so 18%. We have about five years left at that amount, which is easily affordable for us.

24% ish of our net income which is variable due to shift pay. We're in our early 30s with two in nursery. We have nursery fees and we overpay so it doesn't feel like a stretch at 25%.

21% of pay goes towards the mortgage. We have started making extra payments every 6 months though so that is reducing the number of years we have left. We're 35 and 40.

21% but we do do additional payments.

Single adult household, mid 30s, currently paying 25% of my takehome pay on my mortgage. This does include a small overpayment, as well as my takehome pay being reduced by maxing out my pension contribution for the employer match, charitable donations and critical illness cover. If I didn't overpay or have the salary reductions mentioned (which I choose to prioritise), my mortgage payment would be closer to 18%. I could also overpay my mortgage slightly more than I am, but I prefer to diversify and take on some risk, so also pay into a S&S ISA.

Wow, ours is 50% and has always been. We bought 20 years ago in mid 20s, are now mid 40s and have 8 years remaining. We've always lived a modest lifestyle but the house is now worth around £800k, so was worth the sacrifice. We had barely no disposable income when DS was in nursery but are comfortable now.

Late 40s. I rent following divorce, so pay 72% of my income.

Was 50% Now 30% but overpayments taking that to 35%.

Household income £100k+ though.

13% of household income but I'm temping at the moment and due to finish is 6 weeks.
So it'll be 24% when my contract ends unless they keep me on or I find another role.

Dh and I are both 30 with a toddler ds

It's a difficult one. I don't think knowing other people's % is really going to help you. Ours is 20% which judging by this thread is quite high however we have plenty of disposable income and put more than our mortgage payment away in savings each month.

We are mid 30's, 1 DC starting school this year so still paying nursery fees.

When we moved 2 years ago the council tax and household bills have increased for us about the same amount as the increase in mortgage payments. So if you are moving to a bigger, older, less efficient property you should take that into account too. Plus added commuting costs if you are moving further away from work etc.

Early thirties with a baby. Ours is 28% of our income so very similar to you. We don’t find it a problem and have enough left over for saving and spending each month.

Ours is 30% but 25% of combined net pay if we remove the overpayment, late 30’s 2DC one in early primary

Seems doable we just increased the overpayment

Over 30% in my mid 30s, there were times when I think the interest was around 7% and I want too little to remortgage. There were periods when I let it out for less than the repayment mortgage and had to supplement it and pay rent from a starting salary. Now ,thanks to overpayments and salary increases I live back in it and it's 5%.

Earnt too little, I definitely wanted to remortgage!