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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:
dissle · 23/09/2007 19:59

im the north west as well....jeeez, £1100!!!!!
that is extortionate!!!

ebenezer · 23/09/2007 20:00

I dream of a mortgage of only £400 a month! Ours is almost £1000.... for a very ordinary 3 bed house. Most of my friends I think pay similar amounts (not that we sit around discussing but from what i've picked up!)

amidaiwish · 23/09/2007 20:28

£1360
interest only

Original poster
LucyJones · 23/09/2007 20:35

at interest only!!!

I am currently on at dh to mae an emergency envelope. Sounds like a fab idea. I hate the way I don't know about our finaces. It'sbecause I moved in with him but previsouly rented my own place and managed just fine then

OP posts:
granarybeck · 23/09/2007 20:38

Ours is more than that. Is just under 40 percent of our income. Sometimes you do have to push yourself to get house you want, then hopefully your wages etc go up and with time mortgage payments seem smaller. That was our theory but at the moment ours still seem pretty big!

Your figures seem affordable but as others say you then do need to check everyhing else that needs to go off, including things that aren't bills but still regular outgoings (like travel/parking for work, meals out, swimming lessons etc) and its the figure you're left with that's most important as whether you think that is enough disposable income.

Tutter · 23/09/2007 20:39

nowt (renting)

but normally, much much more than the maximum for those "win your mortgage paid for a year" competitions

ninja · 23/09/2007 20:39

£950, slightly higher income. It's just abou manageable but Dh does like his skiing hols so would be fine otherwise!

granarybeck · 23/09/2007 20:42

Ours was a very high number compared to our previous payment, I decided I had to just not think of the number as dh's wage was going up (that's why we were moving areas). SO just focused on what we would have to spend, otherwise you can latch on to it seeming too scary (or silly) a number of pounds to commit to every month.

You definitely need to sit down with dh and talk about what goes out every month and what you spend - as his idea of what is an acceptable disposable income and yours may be different!!

NotAnOtter · 23/09/2007 20:42

mine is 65% income

Tigger13 · 23/09/2007 20:46

Mine is £800 and we earn about £600 a more a month, its ok, but we have to be very careful paying for holidays and don't really eat out much, we do however have to run 2 cars for our jobs and spend about £350 a month on fuel so jsut depends on.

Looking to downsize a bit as trying for no3 and would like to be able to have more holidays!!

But it is just down to YOUR lifestyle.

and yes I would also like to know figures but i'm a control freak!!

NDPIsProbablyGoingToHell · 23/09/2007 20:48

Ours is ummmm, about 1/3 of our monthly income

NotAnOtter · 23/09/2007 20:49

we live in yorkshire and ours v v expensive on those 'check out your neighbourhood' things its loke londn - home counties - sim to altricham cheshire. i think there are expensive bits in north and south. it feels such a rip off paying what we pay for houses but it is nice

Hulababy · 23/09/2007 20:50

Ours is a lot more than OP.

WideWebWitch · 23/09/2007 20:52

I'm shocked at all these low mortgage figures, I really am.

LaDiDaDi · 23/09/2007 20:56

About £850 per month in Newcastle.

chipo · 23/09/2007 20:56

We pay £950 at the moment but have just remortgaged and will be going down to £850 and my dh earns the same as you and your dh do. I would love to have a mortgage of £400.

NotAnOtter · 23/09/2007 20:56

ours is nasty www

whispers.....whats yours??

LittleMinx · 23/09/2007 21:02

our mortgage on our 1 bed flat was £350 a month, then last year we bought a 3 bed house and now pay just under £1100 a month but that includes building, content and insurance to cover for sickness/redundancy. Also we only took out a 12yr mortgage, and hope to have it paid off when the 10yr fixed rate is up in april 2016.... woooo hoooo

The mortgage is about 1/4 of our salary, but it varies month by month as both mine and my husbands monthly wages varie due to bonus's.

what is in your emergency envelopes by the way.

inamuckingfuddle · 23/09/2007 21:08

£1276 for now, 27% of our take home pay, but when our fixed rate expires in a year or so...

lizziemun · 23/09/2007 21:10

Ours is around £900, which is about a 1/3 of dh salary.

But we were luckly we bought our house before prices rose to the levels they are now, for example our previous house was in the paper this week for £6000 more then what we paid for this one 5 years ago .

noddyholder · 23/09/2007 21:20

Apparently more than 19% is considered unsustainable in the long term although with house prices as they are what choice is there?We are renting having just sold where our mortgage was 25% of our total monthly income

WideWebWitch · 23/09/2007 21:41

NAO, we are renting so the rent is cheap at £850 a month but if we buy our mortgage will be a LOT more than that - I am considering renting as a cheap medium term option. No-one has even come close to the figure our mortgage will be yet, but it would be more than 19% of net income, where's that fig from Northerner?

But there aren't many London mumsnetters on this thread, suspect some of them may have higher numbers but be unwilling to post them.

WideWebWitch · 23/09/2007 21:41

Sorry noddyholder, not northerner.

oliveoil · 23/09/2007 21:43

£324 [smirk]

hazypops · 23/09/2007 21:44

Im in midlands, luckily renting at mo 200 per month, thank goodnes i dont have a mortgage of 850, B-hell