How much is the average monthly mortgage repayment (southeast of England)?

[RivieraLido]

Curious to know how much people are paying for their mortgages every month! Currently mine is ~£1000 a month (3 bed semi) but considering upsizing (detached 4 bed in village with better schools - one of which my child will be attending from September) and that would almost double our repayments. We can afford it but it feels like a lot of money to be forking out every month - so curious to know what is the norm nowadays for a monthly repayment?!

How much other people pay is irrelevant. Key factors imo are - how much is the mortgage as a percentage of income and can you afford it if one of you loses their job?

I don’t think there is a norm, way too many factors to consider.

Ours is just under £2k a month though.

£3000 a month as just increased borrowing amount

There's not going to be a norm-this will depend massively on when people bought their house. We are in the SE and our mortgage was £300 because we bought ages ago. We overpaid to £800 for years and have now paid it off.

People at work are buying houses very similar to ours and paying £2/3000 a month.

The only important thing is what you earn.

Depends more on your income to mortgage ratio really.
I’ve heard your mortgage/rent shouldn’t be more than a third of your salary. Personally, I’ve found 25% more comfortable.
We’re in SE and our mortgage is £2k a month for a 5 bed. But renting the same size would be over £3k a month.

@MidlifeWondering yes I guess the ratio is the more helpful way of looking at it

£2,700. The south east is a big place though with lots of variations.

The norm these days for a new mortgage is around 1/3 to 1/2 of take home pay depending on other outgoings.

£312

What's your combined income? Hard to judge what is the norm / doable without that info

£610 a month. 3 bed terrace, garden, parking. £152k brand new 10 years ago. Norfolk.
lovely jubbly. Cost of living

Even the ratio isn't that helpful because people's incomes, other essential expenses, lifestyle expectations and equity/deposit vary so much.

People quote percentages but paying a £2k mortgage from a £6k income would feel a lot easier than paying £500 pm from a £2k income even though the percentage is lower, because in the former case you have nearly 3 x as much remaining for other expenses.

You need to look at your budget and see what works for you.

3 bed semi - £1600 , bought 5 years ago

It's too variable. For one thing it depends on how much equity you have in the property.

We have a 4 bed detached in Berkshire. Mortgage is £1100 a month. We have less than 50% LTV though.