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 ☹️

I'm solo, earn slightly more but my pension contributions are ginormous. Mortgage is £1050.

I'd say that is high, our joint income is £100k, and mortgage £1,600. Could you look at extending the term so it reduces the monthly payment? We took the longest term we could, up to my DH retirement age. Would rather have some spare money to enjoy ourselves.

£68k. £600 and overpay. 1.88 and will go up next year

I hear you. My mortgage is about same as yours, but I have probably £200 more a month in take home but that is all eaten up by the dog (yes I know, a ‘luxury’!). No maintenance here either even though it’s due.

It’s a complete struggle and I’m now in debt for the first time in 20 years as I had the temerity to take a holiday last year (cheap one).

It really does feel like a grind.

ibe thought about jacking it in and living on a boat but then the mooring fees would be high and indefinite, and it’s not a good option for elderly people. Plus the kids would hate it.

Joint income of £45k, mortgage payment £185 fixed for rest of term. £15k left to pay, house valuation £280k.

£48k gross (PT in a £60k job) no mortgage, house value only £150k ish, we chose to live somewhere where houses are cheap and not to over stretch ourselves. No kids, live with partner but keep mostly seperate finances except the house/ joint costs.

My income is around £44k pa with a mortgage of £1,100 which I am worried about going up when our deal ends in Sept. We were a two income household but only one earner now. Two kids. Its really difficult and we end up going into savings each month. We need to run two cars to due to where we live. it would be affordable without this.

Single parent here too. Mortgage is £450 but I live in a house most people on my salary would think is crap. I like knowing that I'm not totally stretched to my max. But even with doing that I'm worried I'm going to struggle when kids go to uni and I need to find money towards that.

Single parent here - my mortgage is much lower but I have over 20 years left on it. Once DC have done uni/are less dependent I hope to pay more and reduce the mortgage term. I do feel your pain! It’s hard.

That's our combined income and we pay £428 a month.

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?

The fact that houses are now more doesn't mean people can afford to spend more of their income on repayments, if anything the opposite is true and rising utility & food costs leave less for housing.

500 a month. Might seem low, but we had almost paid off the mortgage, then my husband left me and I had to raise another mortgage to buy him out. So this mortgage is only for half the houses value, less the deposit I was able to put down.

So a low mortgage, but it's the second one I've had to pay on this house. I've been paying now for 30 years

50k mortgage is £350 a month. I live alone so not many expenses and no other debt.

OP can you speak to your bank about taking a mortgage holiday? If you have been with them long enough they may let you got a month or two. Might help a little?