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

170 a month, in Surrey.

oh lordy this is depressing.
mortgage - 4 figures
creeping towards half our not enormous take home pay (once nursery has been deducted)

guess we are just unlucky - bought 4 years ago and missed the boom. we couldn't rent a 2bed place much cheaper without adding unrealistic commutes for us both, as well as huge season ticket costs.

wow loads more replies
I meant by emergency envelope that if, God forbid, something happened to dh he could leave me all the detals of what bills he pays etc. I know loads of you know exactly what is going on with ytour finaces but dh has always done ours since I moved in with him (he already owned the house)

ImBarryScott - less than half your take home pay AFTER nursery fees???

you sound in an excellent position!! we are on interest only until nursery fees finish/reduce... and it is still about a third of our take home pay, nursery fees nearly another third. flipping hell

"maybe it's because i'm a SW Londoner"....

amida -

ah, SW london, I remember it fondly.....
we're now in Peckham !

spoke to dh again this morning. He said it is all very doable. Except he's slightly concerned that if he hasn't worked the tax credits out right then things wil be tight for the first year

Just be careful and DON'T rely on tax credits!

I was wondering about this the other day - we are coming to the end of our fixed rate soon and have just had the new figures through.
If you include our total incomings - child benefit etc it's 37% of our income but we really struggle and only just break even every month.

Our council tax is high but even so - am going to do my budget and work it out!

Ours is £380 pcm and is in 3rd dearest area in the country apparently! Rreason it is low is we first bought 12 years ago before the boom. We bought our first house for £53,000, it is now worth about £240,000 - so not really surprising mortgage is so much lower. We could have a big "fancy" house and hence a bigger mortgage but choose to live in a smaller 3 bed semi and therefore smaller mortgage, (this was directed at the likes of WWW who say they are so surprised at the small amounts).

ITs raining - lots to do but hey, we have huge mortgage, debt and about to take our another mortgage to pay for loft conversion so that we can give the boys there own bedrooms.

I suppose I would worry at night if my parents weren't well off and I know would bail us out if it all went pearshaped. Also I could always get a job, which I probably will do as my youngest has just started school

well that's it Kaz isn't it, as long as you know you have options if things get tight then it's not so scary.

i run my own business, earn little but hopefully it will take off one day... but i could always go out and get a job to earn money to tide us over

we could always sell our house and with the equity buy somewhere else just as suitable outright/smaller mortgage if we moved area

we could always take the dcs out of nursery

we could always cancel the gym membership, cleaner, sky TV etc.

there's plenty of ways we could cut down if we needed to. that's what let's me sleep at night, i do however worry about small pension etc!

ImBarryScott - Peckham is the new Putney!

oh yes the mortgage broker did ask what we could cut if we had too - first things to go would be Internet and Sky+.

Ours is £250 a month, but we live in a flat I bought ten years ago. Moving to a house with an extra bedroom and a garden will need us to take out a mortgage of at least £150,000 more like £200,000 - and we're talking about Peckham too

£3100 per month, but we're overpaying.

Ours isn't much at all really, we bought a house in a cheap area before the prices went really nuts. We're now stuck though, in that to move / upgrade we would have to pay a shitload more money.

It's about 12.5% of our total joint income, but with nursery fees/car loan/doing our darndest not to get into debt we are still generally skint

Mumblechum............OMFG at £3100 a month bloody hell, i thought my 1100 was bad enough

ours is bigger than mumblechums
we're not overpaying
weeps

Oh MARVELLOUS, a number with something bigger than a 1 in front of it

i live in an end terrace btw in a northern town

wwww you are watching this thread closely!!!

NotAnOtter......bloody hell hun, how do you manage

Malorytowers.....omg at your mates mortgage and haircuts......how the other half live