Deeply personal and slightly cheeky question about your finances

[squeezysparklyballs]

Can I ask what percentage of your household income, your mortgage is? Trying work out what is reasonable

We are FTB so not in yet! But mortgage on it's own is 21% of our joint income.

19% of net income.

25% of joint income

Childcare + mortgage = 26% income

18% but we then overpay so that makes 22%

At the moment it's 13% of our take home but we're in the process of moving so it will then increase to 21%. We don't feel overextended at this level.

I think it is reasonable to understand what % your mortgage is to your net take home pay. It helps to roughly see how much flex you have in your budget and what slice of the pie it takes up. I thought the guideline was no more than 30%?

One income. 25%

@WildWater the OP is currently mortgage free, by my post I was suggesting that maintaining this would be more preferable.

I clearly missed the fucking caveat about who could or couldn't respond.

Ours is about a third of our joint income now we've both cut hours. I actually thought it was relatively affordable 😊

Being mortgage free is lovely. Living in a shit house in a shit area with shit schools is not.

@squeezysparklyballs I agree. And in the interests of sharing, I did some quick sums based on the last property purchase. If we'd taken out a mortgage payments would have been 25% of our joint income.

10-16% of net monthly salary depending on hours worked.

• but now overpaying so 20-32%

10%, but making maximum overpayments so that brings it up to 22%.

I think I’d feel rich if mine was 10%. I’d Have to have a net income of £13000 per month for that to be possible though! Please tell me you’re all up north as I feel like a failure now

33%

I'm on SMP and in the south so it's a lot at the moment.

The national average is about 30% of net household income, which is skewed by London and SE, where it is around 40%. In comparison, average figure in the north is about 20%.

www.thisismoney.co.uk/money/mortgageshome/article-5510061/Mortgage-payments-compared-disposable-income-region.html

Im "up North" in Scotland and my 10% pays for a dilapidated flat so not as great as it might sound

My partner is self employed and his income changes from month to month, but my half of the mortage is about 14% of my take home pay. (£306 out of £2200)

Emma wants attention-ignore, is actually basing the comment on another post!!!
Is Mumsnet aimed at rich families?
As a newcomer!! From what I've read so far
YES
I joined for advice not ridicule and criticism

But surely you realise that not every thread will be relevant to every poster? You don't have to answer every thread just to say it isn't relevant to you. 😂😣

@Emms80

Actually no. I haven't read anything else you've written other than on this thread. Having a mortgage does not make you rich. Anyway, you have a council tenancy which is the next best thing to owning your own home.

Are you after playing a game of four Yorkshire men? I lived in a hole in't road...

About 16% of take home household income