As a percentage - how much of your total monthly income is your monthly mortage payment

[pollycazalet]

Roughly?

And is there a recommended percentage for affordability?

Will come back and post mine when I have worked it out

Have to agree with Podrick. In percentage terms ours looks a bit frightening ( 52% of dh's net pay, while I'm a SAHM, will go down to 40% of joint net pay when I go back to work) but it's actually fine when you look at it in terms of our budget - we have enough left to live on, and we're overpaying to get the capital amount down. Depends a lot on what your other major outgoings are - cars, childcare etc.

20%. Affordability is anything less than one-third apparently. Not sure I'd agree now I have school fees to pay!

0% - mortgage free luckily as our income is low, would struggle to pay a mortgage/rent!

ours is currently 18% but will be 40% from may as i will be made redundant

Ha, I've got you all beaten: 56%.

But we don't have any other debt, and we're hoping that DW can do some work in a year or two when the DC are a bit bigger!

70% which is why I'm going bankcrupt.

About 10% here. Fixed rate mortgage.

currently, since DH lost his job - around 35%

OMG I missed the whole interest rates hitting 13%?!!! When might that happen? We are fixed for one more year ,

45%.. Holy crap.

Me too Glassofred - we moved from Glos up North because the house prices were so much cheaper!

38% - but we are overpaying...

About 20% (I think) of our combined incomes (both full-time).

We have a 12 yr mortgage so will have paid it off in 8 yrs.

20%

By LargeGlassofRed on Fri 06-Mar-09 07:03:34
70% which is why I'm going bankcrupt.

Really sorry to hear that LargeGlass, it must be really a stressful time for you at the moment. Have you found the Bankruptcy and Living With It board on MSE yet? The guys there are brilliant and very helpful and supportive.

forums.moneysavingexpert.com/forumdisplay.html?f=136

Ours is 47%, but that includes overpayments. Dh retires at 60 and we are keen to reduce the mortgage term. In January we halved dd2's nursery sessions and used the money saved to overpay the mortgage - it is a struggle, but I am becoming quite good at cutting back in other areas.

12.5% of take home pay.

5 years left on mortgage. We were going to pay it off this year but with interest rates so low at the moment we may just keep the cash.

15% of take home normally, we are now paying rent and mortgage so just over 30%

20%. but when we move probably a lot more.

Ours is roughly 25% of our combined salaries but I'm not counting income from tax credits/child benefit. It'll be nearer 1/3 when my maternity pay kicks in next week though

We had to fix at 6.45% in September or we wouldn't have got a deal.

13.5% at moment as overpaying, if we move as planned and by what were looking at it will be 20.56 which gives me the heeby jeebys