Mortgage payments

[Hairydogmummy]

Hi all. Been looking for houses for a while and come to the conclusion we need to up our budget and put more of our money in to bricks and mortar. Our joint income is £6000 net a month. We have about 500 a month to pay on various loans and 300 in child maintenance. Other than that it's just the normal bills that everyone has. At the moment we're only paying 900 a month mortgage and are planning to increase to 1600 as we feel we're frittering it away and could be living somewhere much nicer and being more sensible on our salaries. Do you think this is reasonable?

We bring in £5000 net per month and our mortgage is £1380 and it works fine for us. We have no loans to pay but do have a car on HP of £215 per month.

That's fine it's 27% of your income.

is it just the two of you or do you also have kids? DC seem to drain money away. Also how old are you? Age really does make a difference....would you plan to play that much till you're 70 or are you hoping to pay it off at say 60

Thanks everyone. That's reassuring. We are mid 40s. No wouldn't stay there paying that much forever. DH is hoping for promotion soon and so am I and the big loan will be gone in 3 years. We do have one DC living with us, my son who's 17 and will be going to uni. That does concern me in terms of how much I'll be able to afford to help him out. His dad can be quite unreliable. He doesn't pay much now and will stop when my son is 18. No idea if he plans to support him at uni.