How much is your mortgage?

[Birchwoods]

How much is your total amount owed and what are your monthly payments?

I know the answers will vary hugely but I’m curious as to what other people pay.

Our outstanding amount is £275k and we pay around £1600 per month.

Our outstanding is £187k ish and we pay £1500 a month though our mandatory payment is £1350. We had £295k on our mortgage when we first took it out and overpay with ad-hoc payments too. Our fixed rate ends next year so our mandatory payment will come down. Just under 22 years of a 25 year mortgage left!

£425k. £1.8k per month repayments plus another £200 pcm in voluntary overpayments. On a nice low pre-Liz Truss rate until 2027. Only 26 years more to go 😬

Owe around 78k and paying £475 a month for the mortgage, but we also overpay by £300 a month.

£63k and £891. over paying so can get mortgage free asap

Exactly the same as you OP, weirdly enough.

Simple answer: yes

Complicated ranty answer:
Only £2.87 because we'd be charged £3000 if we paid it off in full during our 5 year fix period. This is the lowest we're allowed to go without charges.

We always overpaid our mortgage since taking it out in 2016 as first time buyers as we wanted to make the most of low interest rates before they returned to historic norms.

I know some people advocate investing instead if you have spare money but we like the security of owning our home and knowing it can't be taken away. We're saving about £7500 in interest alone this year that we don't need to pay in mortgage costs, which will hopefully more than pay for a year's uni fees for our 8 year old 10 years from now if we invest it.

I think we'll only have paid £23,000 in interest in total for our house (8.8% of money borrowed). People taking out a mortgage today pay 66% of the price they borrowed in interest by the time they pay it off 25 years later if they don't overpay. 82% in interest if they take out a 30 year term. I don't think people consider the total cost (or don't have the luxury if they have no option other than to stretch themselves to buy a house - I do appreciate that we had the option of not stretching).

It is in banks' interest to have us all paying as much as possible for as long as possible. It's what our economy is based on. Stop the banks overlending, house prices fall, people don't have to work until they're on death's door, and we finally realise how much our dysfunctional economy relies on money extraction through rent from the young to the old (who buy up more than their fair share of houses) and selling each other houses for far more than they're worth. It's a means to get all us all to work harder for longer and we've decided to opt out.

£384k, pay just over £2,000 a month. 30 years left on the term. We're 34 and 37, moved in Jan 2024 so rates were not brilliant. By the time we remortgage in three years we should be out of the nursery fee years so hoping to drop the term and start overpaying (and hopefully rates will be a little better too - even being where they are now would be good!)

Zero and £0.
Mortgage crashed and burned years ago 😭
Am now a HA tenant 🤗

48K
£567 a month

I have about 230k left on my mortgage - I will have probably paid double what I purchased it for by the time I need to pay it off in a few years time. Had points in my life where I’ve been interest only. My mortgage is just over 1300 a month - I’m on a rubbish rate. I’ve not been sensible in over paying, I preferred holidays unfortunately.

£795,000. Approx £4k a month

ours is similar but LTV is 50:50. Should go down next year as interest rates going down at last!!

£260k left, £1350 a month!

600k and £3k pcm approx

170k, 30ish years left, monthly repayment is £828 but we round up a bit and pay £900. I'm currently a sahm with 3 kids, so wanting to keep monthly costs low atm, but when our toddler turns 3 and gets some funded childcare hopefully we'll be able to pay it down a bit quicker. Early thirties.

£39k £360pm we overpay by £600 plus any premium bond winnings. Im 50 dh 46

No blomming clue! This OP forced me to look it up. Bought the flat for about 290,000; 27% deposit; about 2.5% interest; pay about £550 a month + £550 service charge.

Live in scandinavia. It is expected that we will never repay the capital. Realistically it would take us 50 - 70 years to pay back. Totally different view to the uk.

I did a further calculation: mortgage is 11% of mine and dh's income; mortgage + service charge is 22%.

PS: free underground parking, considerably cheaper electricity and broadband, no gas or water bills.

House worth £380k, mortgage left is £110k with 7 years to go.

Looking to overpay to pay off in 4 years.

We’re both 53

Do all banks not offer free banking?

£175000 at £1050/month.

£24k
£800 pm
2.5 years remaining

£110k, £750 per month. Age 40 & 41.

Will be whacked up to £350k-ish and £2k per month payments in a couple of years time when we move house so enjoying the lower payments while I can.

About 180k, £1050 a month. Only 24 years left 😒

45 yrs old, £90k and repaying £475 interest only.. long story and a bit trapped in it, but 4.5 years left and throwing £2250 a month at it to clear it. Love threads like this… make me feel less crap!

£160k with payments of £925.

We're about to (hopefully!) borrow some extra for an extension.

So we will have a mortgage of £285k and payments of £1,300ish (we will need to extend the term).

House currently valued at £600k and should rise to £725k ish, so breaking even on the extension. But we're here for the long haul and the extension will future proof the house in terms of my ill health.