How much is your mortgage per month? What age will you pay it off?

[lenny2011]

We hoped to pay off mortgage when we turn 50 but going to buy new house so will have to extend term.
Currently 1k per mth which is manageable but will increase to 1.5k per mth which hopefully will be ok but need to budget more

[YelloDraw]

£1300, to be paid off by 60. Just under 40% of my net monthly income but at the moment I'm making large pension payments and have reduced salary for additional holiday days which I won't do next year (prob keep the pension payments as they are). Also doesn't take into account my annual bonus which was 40% of my gross salary last year.

[StepAwayFromTheThesaurus]

Ours is about 20% of our net income.

The mortgage payment is only slightly more than we paid in rent on a much smaller (and always freezing) house a few years ago. We earned much less and also had FT nursery to pay for while we were paying that.

While I was a PG student my rent (for DS1 and me) was more than 50% of my income. That was hideous.

[Icklepickle101]

We are paying £795 interest only! The repayments were ridiculous and it's only a 3 bed terrace! Makes me sad we will probably never pay it off

[Buttercupsandaisies]

£550 per month will be paid off in 12 years - I'll be 50

[thisisbloodyridiculous]

Basin our mortgage (700/month) is 35% of our net income of 2k/month

[LunaLovebad]

We moved a few months ago and have two mortgages, one ported and a new one. The ported one is £1100 pcm and the new one is £900 pcm. Ported one will be paid off when we're 55 and the new one when we're 60. Depressing, but I love our new house and it's worth every penny 🙂

[lovelyupnorth]

£112.00 going down on the first of October. Interest only but overpay buy a lot and have a couple of endowments should be clear by 50.

[lovelyupnorth]

Interest rate now 1.35%

[lovelyupnorth]

Including over Payments it's about 13% of income.

[NiceCuppaTeaAndASitDown]

£1198 per month, fixed for another 8 years. Will be paid off when we're 51 if we don't overpay anything but we're hoping to pay it all off sooner but all our savings at the moment are going on our extension next year

[Whatthefoxgoingon]

Percentage of net income isn't much of an indication. I hear people say mortgage should be around 20% of income.

20% of 2000 = £400, £1600 to live on

20% of 15000 = £3000 and £12,000 left to live on

[BasinHaircut]

True fox, but along with the actuals it's relevant. So I guess I want to know both!

[skippy67]

£400 per month. Will be paid off in 2 years. We'll be 51.

[RavioliOnToast]

We pay 237 a month and I'll be 61 when its paid off.

[happyend]

We pay approx £500 pm. will be done when I'm 65. We are 0.2% above base rate which is great.

[bimbobaggins]

Was £350 per month until recently but now paid off. 44.

[Bibs2014]

Our payment is £714 a month but we pay £800. We've always rounded up to the nearest 00.

We have 23.5 years left to pay but with overpayments it will be gone quicker.

I do want to move house though - would love a 3-bed house but don't fancy taking on a big mortgage!

DH and I are both 37.