What percentage of your household income is your mortgage?

[celiastjames]

Just that really.

Looking at moving house and upping our mortgage significantly. Was going to ask how much disposable income was enough! But realise that's way too variable, so a mortgage cost as a percentage of monthly take home seems more insightful!

This increase would take us to about 35% of our income, just on our mortgage.

Between 17 and 20% of joint net pay (that's the new percentage from October when our lovely low fixed rate ends). I say between percentages because we overpay if we can.

We have enough left over to afford most things but often end up £100 or so into overdraft.

Ours is 18%, we do overpay though so a higher percentage would still be affordable, iyswim.

16% which is leaving us with around £3700 for everything else. We live pretty modestly (uk holidays, smallish house etc) but like being able to save, have lots of family days out, activities for the kids and so on. I like being able to not have to worry about replacing an appliance for example or being able to buy something without thinking about it too much. I think it really depends on your other outgoings tbh. We will be moving in the next 2/3 years to a bigger home so that percentage will change and we are going to have to tighten our belts as it were.

What you earn is going to make a massive difference here. My mortgage is 50% of my income, but I still have £3k a month left to live on, which is plenty, and it won’t be 50% of my income in ten years’ time (due to inflation).

It’s also going depend on where you live - if you live in the SE you are never going to have a new mortgage that’s only 10% of your earnings (you might if you bought 20 years ago and were coming to the end of it, but not if you bought a new house now).

0%

ours is about 33%. And we feel it! So defo 35% is the max, i think people ideally should go for. the close to 25% the better

Context is important. If someone had a monthly income of £10k and their mortgage is 50%, that's probably fine.

Our mortgage is 19% of £7500 net take home.

12.5%

32%. We moved in Nov to the next step, DH is currently not working and is doing the house up. Looking for him to pick up a job in the new year, and then it will hopefully be more like 22% which is a little more comfortable.

33% which would be very doable if it weren’t for 33% also going on school fees.

Next year it will be 20% on mortgage and 16% on school fees, which is much more comfortable.