If your salary is c. £50k what’s your mortgage?

[Shytalker]

Just curious how others manage. Mine seems high and I’m fed up of not having enough spare money each month.

I earn £54k, take home £3380 and mortgage is £1250 pm. The rate has gone up from my initial 5 yr rate (1.38% to 4.11% now). Ex also now pays no maintenance so I’m feeling the pinch.

It’s a high proportion of my income isn’t it ☹️

£720

£700

@Shytalker I'm on the same as you pro-rata. Mortgage is £916 but still on 1.29% so fully expect this to go up to over £1300 in 1.5 years.

youre a single income household from the sounds of your OP, you’re doing an amazing job 🤩 is there anywhere else you can cut your variable spending?

I earn slightly less and my half of the mortgage is £1,350. Every month is a struggle. We’re on a tracker, so last month our mortgage payment dropped £50, so not huge but the extra cash was welcomed.

Aw thanks General90 😊 Yes, single parent household here. OK salary wise and feel fortunate in that regard, but the outgoings are so high, it’s hard to save or do nice stuff. It’s the mortgage that’s the killer. But we live in an expensive part of the UK and house prices are high. All feels a bit hamster wheel tbh!
A mortgage of c£700’a month would make a huge difference.

Fantasmic143 and DAndreBarksdale, do you feel you’ve got sufficient disposable income with your mortgage level (if you don’t mind me asking?!)

OP, similar (bit less) salary and also single parent. I'm really really struggling. CC debt is rising and I'm feeling overwhelmed. 2 teenagers is v tough!
My mortgage is just shy of £900. But with CC payments I'm paying same as you on 'debt' every month.

I'm so frustrated that on a good wage I can't actually afford to treat my kids etc. We ate jacket potatoes and beans for a week not too long ago.

Yes, more than enough disposable income. Lucky enough to have DH earning about the same. Mortgage almost paid off but it doesn't feel like a big outgoing really. DD about to buy a house - worth less than ours but monthly payment almost double. It's really tough for some.

Dh's salary is 60k (mine is 12)

Mortgage is £220 pcm on a 350k approx property

We’re in London, so property prices are generally higher, but I’m £50k salary, DH is £65k and our mortgage is £1800.

Part of our mortgage is at 6% thanks to good old Lizzy, so hoping it will come down a bit next year when we need to remortgage.

Things are tough though as we have a little one in nursery, but we manage somehow. Just no nice holidays, less spending on clothes etc.

45k salary though pro rata so would be around 54k full time. £1100 pcm mortgage, house value around 380k.

Salary is just over £48k , take home £2,860 mortgage £800, so not dissimilar disposable income after the mortgage. I'm a single parent and STBEXH pays less than £50 per month so that makes very little difference.

We don't have lots of luxuries but I take the children on days out and we had a UK holiday this year. The children swim and have other sports and clubs. Clothes are generally from Vinted and my car is 10 years old but I know I am in a much stronger financial position than many families I know. Fortunately I have no debt other tham the mortgage and some savings. I will need to remortgage shortly to try to buy my ex out of the house, I've calculated that £1,000 is the most I'm happy to pay for the mortgage. That will be tight but (hopefully) manageable

It's recommended that your mortgage repayment is no more than 33% your net income.

Yours is 37% so it is on the high side.

Surely this is outdated advice now house prices are much more than the average salary nowadays? Especially for those who live in the south of England/London etc?

That does seem high, can you extend the term to get through the parenting years?

Your take home seems quite high for the salary as well, are you paying into your pension? Because I would prioritise pension over a shorter term mortgage if you're able to extend it (age dependent).

Not a single parent family, DH earns about the same as me and our mortgage is £2100. Went up thanks to Liz Truss by £600. Was manageable before.

About 74k. Mortgage went up by 400 quid a month. Now 1800. Bloody useless Conservatives.

Echo @goestheweasel , can you lengthen the term? We did this when dc was little and I wasn’t working. 30 year terms are not unusual now, sadly.

In a very similar position to a couple of pp.
Slightly less salary than you (just less than £50k)
Mortgage is £625 pm but I'm on 1.3% til mid 2026. Wish I'd fixed it for longer.
I have holidays alone (small monthly DD to a friend to save for this) and with the kids (discretionary bonus) but my CC debt is creeping creeping creeping up. Only by reasonably small amounts each month but it's starting to get almost unmanageable.
I feel slightly like I was swimming against the tide for a while but I'm starting to drown.
Had to put food shopping on my CC until the CB came in this week.

Single parent family here too

As a side note (sorry for multiple posts) my monthly take home is significantly less than yours, as I put 11% into pension (plus another 4% from net income)
Can I ask if you're paying a pension? I know it's hard when your mortgage is so high but I stress about my pension almost every day (I'm mid 40s)

We earn roughly 47k and our mortgage is £1008 a month at 5.65%

OP... do you not have any deductions, like pension etc. As I earn a bit more, but have same take home as you!

But to answer your Q, yes its a bit high but not disastrously high. My mortgage is is about 38% Take home pay too. SO yes its a stretch! Almost identical to yours, went from 1.7% to 4.1%.

As someone said anywhere under 33% is ideal. closer to 25% even better.

£50k income, monthly mortgage payment of £566. £17k left outstanding.

But I'm old.

700 at 179% but over pay. About to be 720 at 3.85%