What's your income and what's your mortgage/rent

[clouds56]

I'm just curious to know what peoples monthly household income is and how much their mortgage/rent is?

The reason for me asking is because I am moving house soon and our mortgage will be going up by quite a lot but our household income has also increased. Although we've done all our sums and the bank are happy to lend us the money I am still feeling anxious so interested to see what other peoples monthly income and mortgage/rent is? And whether you find it manageable or struggle.

Childcare has a MASSIVE impact on the answer to this question. Our take home is 3.5k per month and our mortgage is 600. Our childcare bill is 900! So technically when the kids are both in school we could have a 1.5k mortgage and still be no worse off than we are now 🤷🏻‍♀️

Our mortgage is actually cheaper than I thought it was, as I am clearly a clueless fool! But it's still circa £1000. I thought that was cheap! But compared to some on here, it seems extortionate. Our combined take home pay is around £5000 / month, so obviously a fifth of our income is mortgage. We don't have many childcare fees now, as I've gone part time / school hours and term time only, so that's something.

@KobaniDaughters yes of course - many of my family included who works in the NHS. They save lives - I don’t in what I do

My point was rather than the £32k per month is rare - it’s the very very top of these organisations which only a minority of people will ever make because they are renowned in their field

Most people in these organisations earn salaries that are very much smaller (1/20th or 1/10th of that, much more similar to the average UK one)

Also I am talking about London which is inflated anyway

Take home £1750, rent is £990.
Our total income is £3670. Outgoings to run entire home/life are £2950

@twosticksandanapple

I am always surprised how high mumsnet income figures are. They are always way above the UK mean which is around £30k annually, £2500 monthly household income post tax.

The average UK mortgage payment is £723.
Typical home loan payments accounted for 29 per cent of homeowners' disposable income in the last three months of 2017, data from Halifax shows.

I am not saying people on here are necessarily lying but I would not take anything you read on hear too seriously as it is certainly not representative.

yes. but obviously an average is a mean so you will always get very low or very high numbers that make that up

When you combine regions - and those who work in London’s financial sector you will always hear of what seems like very comically high numbers - it’s not a lie but yes it can be very surreal and seem unjustified

you just have to google search what an average big 4 accounting firm partner earns on average. it’s huge. but then there are eg 300,000 employees at those big accounting firms and very very few partners in comparison. just so happens that one of those partners mentioned their salary on this thread

Roughly £5.5k a month combined take home.
Mortgage is £960

Our mortgage is about 30% of our joint net pay, doesn't leave much for luxuries etc,. but it's manageable (oh wfh the last few years, with no commuting costs has certainly helped) .

#humblebrag
How did you think your comment would be useful to OP in any way?

who’s bragging? I’m not the partner who earns that - I gave my answer to help OP up top

OP asked for salaries and mortgages.

Certain people think some of these salaries are too high/lies - I’m simply saying they may well not be because certain sectors are ridiculous.

An average is just that

@WildWombat my childcare was 3x the mortgage , once they get to school you feel so rich

The best is to do a spreadsheet.

What comes in and what goes out on bills and what must be paid. Then what you’d like to spend on luxuries like gym, hols, days out etc and see what’s left. Then adjust the luxuries if you need more . Like if you move near to a park you could loose the gym etc.

Our monthly joint net income is £4500 and mortgage is £900 a month
I only work 18 ish hours though over 3 days
Will increase hours in not to distant future to probably 28 so our net should increase to approx £5000 a month
Some very big salaries on here

£900 school a joint take home of £6300 and no childcare but 3 pretty expensive teens!

@StormBaby

Take home £1750, rent is £990. Our total income is £3670. Outgoings to run entire home/life are £2950

Your figures are very similar to mine. My jaw was dropping at how much some people have each month, so needed to swe someone similar to me, thank you 🤣

I think this totally depends on your lifestyle so don't worry about comparing yourself to others too much.
£3,400 monthly income £600 mortgage so 20%ish

Take hone £10k a month- mortgage £1700.

We then pay £1700 a month for ds' school fees

Errrrr feeling quite out of place here

One income of £1400/mth and mortgage £330

@Spacemonkey2016 haha, no problem. 🤣 I’ve been on minimum wage my whole life and we have struggled, I’ve had to do second and even third jobs as a cleaner and in a pub kitchen on top of my full time day job in the past, just to survive.

This is my first ever foray in to management, so my paltry £1750 a month take home is HUGE to me!

Take home pay is €6645 including the child benefit, mortgage is €551 a month.

When we bought the house 5 years ago our income was less than half what it is now.

£4100 and mortgage is £800

Those of you with mortgages under £1000 are fortunate. Did you buy in the 1990's or do you live outside of London?

My mortgage is £1400 for a small three bed terrace. Third bedroom as a box room, one WC. There is simply not enough space with growing dc, however we cannot afford to extend mortgage by £200k to £300k for a four bed.

We live near London and our mortgage is just shy of £1000. 3 bed terrace, bought in 2015. But we overpay so it is more like £1500.

We did switch mortgages last year and that brought down our payments. Our deposit was also quite good - 25%. But I think that was standard at the time

13k a month after tax between us. Mortgage was £1,600 but it’s now paid off

Our combined income is currently roughly £4000 (varies as we do regular overtime which is expected of us) but soon this will halve as I'm on maternity leave and probably not returning to work for a few years.

Mortgage used to be £639 a month but we overpaid loads (with the intention of getting the mortgage down for me to be a SAHM for a few years) so now pay £278. So will be income of £2000 and mortgage of £278 (hoping to pay the whole mortgage of next year but don't know if it's doable!)

The other variable is when the house was bought. Inevitably there will be people with smaller mortgages who bought a long time ago. You’d probably get a better view of affordability posting on the mse forum with some of your main expenditure. For your level of income the mortgage amount feels quite moderate.

Childcare is likely your biggest risk/variable. If it’s £850 a month is that one child and do you have plans for more? I personally underestimated childcare costs for school age children. While much lower than nursery, we’re still paying a good £3k a year in wraparound/holiday clubs.