Londoners - dare I ask what your monthly repayments are?

[Ilovesnacks]

Not trying to be intrusive. DH and I are doing some life planning and part of that is budgeting whether we can afford to move and renovate. I've lost the plot of what is 'normal' in terms of monthly repayments, possible because we've been lucky to be on a low rate for so long. We are paying £1500 a month for a 3 bed victorian cottage in zone 3/4. Its getting a bit small but to renovate and move, in a few years that monthly amount will be more like £3,500.

I'd be curious to know what your repayments are (or at least, a percentage of your income) and how many kids you have.
Asking with Londoners in mind rather than anyone as obviously this city warps things!

Our mortgage is £1699 for a 3-bed Edwardian cottage in zone 4, and we overpay to £1850 each month - we took out a slightly longer term for flexibility if we ever need it, while intending to pay the standard term amount anyway. Our fixed rate is up in 2026 - ideally we’d have upsized then but we are considering staying out for another 2 years depending on what the housing market is up to then!

Our household income is about £150k - it was about £120k when we took out our mortgage in 2021, but we’ve had a moneypit baby since then too.

About £770 a month on a 2-bed maisonette in zone 3/4. We have two more years to go on our 5 year fixed rate. Household income around £150,000, one preschooler DC. Looking to upsize as soon as we can sell our flat (have had plenty of interest and accepted two offers, both fell through...😬) Really thinking long and hard about how much we want to financially stretch ourselves on our next purchase what with everything that's going on in the world....

£3k for a three bed “project” in zone 3 - just had to remortgage. Take home around £6k p.a. It’s doable, but a struggle to find the money to actually renovate the house.

Just under £2200 for a 20th century 3 bed terrace in Zone 5. We are FTB this year. It's a lot!

About to go up to £2400 for a two bedroom Edwardian maisonette in SW. Our take home is about 150k combined. I don't know where our money goes as we are thinking we won't be able to stretch to the new rate and have to move somewhere cheaper. Babies really are moneypits 😩

4 bed 1930s semi-d, zone 4, paying £1450 pm but we are about to come out of five year fix so that will go up somewhat. We are also planning to add £50k to the mortgage to fund badly needed renovations to the kitchen and bathroom, and replacing steps/path at the front of the house. We want to get the house into a saleable condition in case we decide to move once both DC are in secondary school. Gross salaries total c. £100k. We've got 16 years left on the mortgage and are not going to increase that as we want to have it paid off in time to retire at 65 ish if we can, we will try to overpay monthly if we can. Another factor for us to consider is that our DC will probably need help with living expenses if they decide to go to uni, we will need to begin saving for that at some point in the not too distant future.

We’re in SW zone 5 in a 1930s 3 bed terrace, which is completely fine/liveable but will need slowly renovated over time. Mortgage is £2600 pm, up from £2250 before June, but I now feel incredibly lucky that we got a sub 4% rate and locked in for 5 years. Joint income just over £150k. 2 kids, 5 and 3. Childcare costs still around £1k per month, even with ‘free hours’; looking forward to this time next year (at least financially!) when they are both at school.

£1750 3 bed -1960s project. Zone 3. Mortgage is ok on joint salary of £130k ish but we have two kids. So childcare on top is killing us. No money to actually do the work. Not bothering until dc2 is out of nursery

Think there are some digits missing here 😁

Just gone up to £3,500. It’s slightly horrifying

We pay £1800 per month for a 5 bed semi in zone 4. We are on a very low mortgage rate though, and we overpay fairly significantly.

We earn £140k between us and there are 4 years left on the mortgage.

5 bed semi in zone 4. Fixed rate for the next several years of just above £1500, we're overpaying at £2k/month. Two DC. We're in a very fortunate position.

We've paid off recently, but were paying about £1330 for a 4-bed, 3 reception terrace, zone 4, we have two kids. We had a fairly large deposit (8 years ago), though, as we sold two places to buy this one, so I think most people would be paying more.

£1400 for a 4-bed in outer London burbs. We have about 2 years left on a fixed deal but only 8 years left overall. Can't wait to get rid of the sodding thing.

The mortgage I mean. Not the house.

2k a month, was lower but we increased our borrowing to do a loft conversion, so it’s now a 4 bed house. Zone 5. 165k salary between us. 3 pre school aged dc.

£2300 on a two bed garden flat on the zone 2/3 border

£3400. Was £3190 but....rates

6 beds and garage in west London.

I sometimes wonder- we'd paid off our previous 4 bed terrace in a nice but not quite as nice bit of the same area so this occasionally seems mad. We could be thinking of retiring early. Costs are high as we were both quite old so couldn't get a full mortgage term.

However we both WFH and can have an office each and if the kids need to come home after Uni we will have the space.

School fee hikes and COL increases mean we are feeling less well off but still doing ok. I earn £160k DH about £120k.

Quite a lot higher for us, which this thread makes me embarrassed about. It’s £5.2k a month. We bought a 7 figure large 4 bed, 3 bath, 3 living room house in zone 5 earlier this year, so interest rates weren’t in our favour either.

We both have really decent salaries so we can afford it. But this thread has made me question myself and our choices!

Was £2100/month for a 5 bed semi. Remortgaged to borrow for building works and so it’s now £3100/month in total. The two mortgage are on different rates

Zone 3/4

I’m one of the less advantaged folk on this thread although it is all relative. I thank my lucky stars every day I’m not renting.

mortgage of £200, 000, about same again as equity. I’m “lucky” in escaping an anusivr relationship and getting my capital out.

monthly payments £1000 on a take home of z£ 360

So sorry, that got hopelessly garbledZ p

4 bed semi in z5. We're paying £1400 a month but we're in year three of a five year fix at 1.49(ish)% so it's going to go up dramatically at the end of it. We're intending to chuck as much as possible at the debt in the interim to reduce the amount outstanding and are hoping to remortgage for significantly less in 18mo time which will offset the increased interest rate. Our gross household income is around £200k so realistically we can make a serious dent in it before it comes up for renewal (mortgage terms allowing).

We’re on interest-only and mortgage is £8,000 per month.