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Original poster

How much is your mortgage each month?

180 replies

LucyJones · 23/09/2007 19:03

We currently pay about £400 but are about to move and it will be closer to £850. Just wondered if this is average? tia

OP posts:
Raggydoll · 23/09/2007 19:04

cheeky

Original poster
LucyJones · 23/09/2007 19:11

lol, threads like how often do you have sex will have more answers than this one

dh takes home 1,600 a month and I earn about £500 a month

OP posts:
lulumama · 23/09/2007 19:11

lucyjones.. what is average in , say, the southwest will be totally different to average in the northwest

Original poster
LucyJones · 23/09/2007 19:12

ah yes, good point. We'e in the South East.
Perhaps I have started a completely pointless thread

OP posts:
Gobbledigook · 23/09/2007 19:13

Mine is a lot more than yours if that helps?!

Gobbledigook · 23/09/2007 19:14

North West

Original poster
LucyJones · 23/09/2007 19:16

oh thank God Gdg!! Just after a bit of reassurance that we're not totally mad that's all Thank you so much for answering

OP posts:
Boogalooblue · 23/09/2007 19:17

ours is over 4 times yours

bozza · 23/09/2007 19:17

Mine is inbetween those figures but on a higher income. Do you pay for childcare? Do you have reasonable prospects at work? Yorkshire.

Gobbledigook · 23/09/2007 19:17

The thing is, what you can afford is all down to personal circumstances so you can't really compare it with anyone else. It depends how much income you have, how you spend it, what your priorities are...

DumbledoresGirl · 23/09/2007 19:17

It might be more relevant to ask what percentage of take home pay goes on the mortgage.

Ours is larger than yours but dh earns more so our mortgage repayment would hardly be relevant to you.

Gobbledigook · 23/09/2007 19:19

Just what I was trying to say DG!

Even then, that % can be misleading because it depends what else you spend your money and what you see as priorities. Some people will have a smaller % because they like to spend their money on other things.

WideWebWitch · 23/09/2007 19:19

£400 sounds VERY low to me.

I guess if depends on what percentage of your earnings it is as to whether you're hpapy with increasing it by that. Our rent is a low percentage of earnings.

massivebigpantsface · 23/09/2007 19:19

also, average for what? flat? house? bedrooms?

Twiglett · 23/09/2007 19:19

I was paying £850 for my flat 7 years ago if that helps

DumbledoresGirl · 23/09/2007 19:21

True GDG. And also, how many people there are in your family. Our mortgage would be a lot more manageable without four children!

Tinker · 23/09/2007 19:21

Even percentage of earnings doesn't give a clear picture (just to muddy the waters even more).50% of high earnings still may still = pots of disposable income

WideWebWitch · 23/09/2007 19:22

old thread about percentage of income on mortgage but agree, it depends on what else you have to pay for.

Childcare
dentists
clothes
travel
subscriptions
opticians
school trips
bills
all add up

Original poster
LucyJones · 23/09/2007 19:22

God it's all so complicated.
I guess I should just trust dh knows what he's doing!

OP posts:
Original poster
LucyJones · 23/09/2007 19:23

thanks for that thread www. Dh says it will be about 40%

OP posts:
Tinker · 23/09/2007 19:24

Um no, LJ, I'd make sure I knew what was happening if it were me.

ruddynorah · 23/09/2007 19:25

dear god no don't trust dh to sort it out. know what's what yourself.

Peachy · 23/09/2007 19:29

Well its rent now but its about 1/4 of our income, howe ver in a year it will be about 1/2 our income so dare not upgarde (Am pg and won't get any money on ML as a student atm)

Last house we owned was about 1/2 income as well. But afr too small for us. Taht was a Somerset village, now in South wales

dissle · 23/09/2007 19:29

Good Grief...we are SO lucky, mine isnt even £300 a month!
i dont know how you all afford £800 plus....we would be homeless if we had a mortgage of that much!

cleaninglady · 23/09/2007 19:43

ours is about £1100 a month - north west area - I would agree with the others who say make sure you know all your financial stuff - we have an "emergency" envelope just in case anything happens to DH !