How much is your mortgage each month?

[LucyJones]

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

www ours is terrible
just huge
shockingly so
think these are all too low tbh

c'mon NAO, post NUMBERS!

what would yours begin with????

What do you mean by too low? Ours was a lot more in percentage terms when we bought 7 years ago, and I was full time then, although have been part time most of the time since. I think it is probably more than 19%, mind you.

more than £850

Ahh, NAO, won't say because I have posted elsewhere what percentage of our income it would be and I don't actually want to reveal that
but it would begin with a number much higher than £850!

mine is more than 10 x one mentioned on this thread
never heard that 19% rule

TBH 19% sounds v. low.

I'm a Londoner, ours is £1100-ish a month. But lordy, when we come off fixed rate next April we may be in for a shocker...

This makes up more than 1/3 of our income (closer to 1/2 I'd say) but we don't have an extravagant lifestyle (I haven't had a night out in 7 months since DS born ) and will eat Tesco Value corn flakes if need be!

£160 per month.

But that is interest only as we are offsetting and making overpayments to lower the outstanding mortgage.
Still paying out for a crappola endowment that will pay off only part of the original amount

omg gingerbear

It depends how long you have been living in your house, as well as where.

4 years ago our mortgage was £400 for a 4 bed house in Norfolk, and if we still lived there, it would still be £400, but the value of our house would have more than tripled in 8 years.

I know loads of people with mortgages around the £850 mark, ours is less than half that tho'

But NAO, we are ancient and have lived in same house for 13 years and bought before the boom in prices.

Ask WendyWeber the same Q - I think hers is paid off!!

(There are some benefits to being grey and wrinkled, me, not you Wendy...I'll get me coat before I offend anyone else.....)

google London & Country mortgages.

Fee free whole of market mortgage brokers - for that person who said their mortgage would be shocking come April...

They sorted EVERYTHING (and rang me up constantly to remind me to send things off ) - and saved us loads.

Can't recommend enough .

Our mortgage is £1,300 (we remortgaged for an extra £80,000 and our repayments are the same thanks to them).

sorry, not London & Country mortgages - they are brokers.

mummymajic - agree with L&C - we got a great offset deal via them.
Very helpful too when trying to work out which type of mortgage is best for your circumstances.

ours is 100 per month but we have paid lump sums off it a lot so not much left to pay now

bet you are not that old gingerbear!

anyone know a website where you can see how mortgages diminih over 25 yers/??????

Oh £1800, though we are overpaying £300 a month to try and bring it a down a bit and yep thats between a third and a half of our income.

YBS have an online calculator

thanks gb but i really wanted one that would show how much i will have repayed in say 10 years

Oh, bugger, they have changed the website - they used to have a nifty graph.

Never heard that 19% rule - also bear in mind that your income usually goes up over the life of the mortgage, so what seems like a huge percentage when you start out may be quite manageable in 5 years.

Ours is about the same as yours - but make sure you have safety nets built in. We have an "emergency envelope" and if something went long-term wrong (like I lost my job) we would switch to interest only.

NAO

First Direct Website - try the 'how much can we borrow' bit on mortgages tab.