How do you pay for your mortgage or rent each month??

[WitchyWay]

Sorry - how much do you pay

Every now and then I get a streak of fear about our new mortgage commitments. I'm hoping seeing what people are paying will make me feel better about it 😂😬

I'll start, new mortgage will be £1900 per month. Will go up on 2 years when our partial low interest rate runs out.

What are you paying?!

Welsh mountains very quiet little town - we pay £420 PCM for rent. 2bed modern mid-terrance town house.
Would never be able to afford Mortgage so rent is fine for us.

£495 for a 3 bed with a big garden.

£730 for a 4 bed detached on a 1.5 rate, so expect this to go up a bit when it runs out in 2025

Don't forget you will remortgage in 2 years so you won't go on to SVR (not saying the rate definitely wont go up, but all being well it certainly shouldn't be much different).

Its all relative OP, mine is much less but my earnings are low and i am old.

Critical is to look at your protection needs, to protect the mortgage payments should your circumstances take an unexpected turn for the worst. If i couldnt afford the protection, then i couldn't afford the mortgage, was our rule of thumb.

2 miles out of a capital city and our mortgage is £950 for a small 2 bed terrace. We pay £1250 though at the moment while our salaries are good.

Can't imagine only paying £450! Although I love our location so wouldn't want to change that!

Currently about £1,500. Have to remortgage soon and probably looking at around £1,900.

We were so lucky and got a ten year fixed rate in 2022 at start of year before rates rose a lot. We’re £750 on 4 bed detached house.

1300 per month mortgage

it suck’s but doable - about 25% of our take home pay

when we moved in it was super low interest rates so about £1k per month I hadn’t really considered it would go up so much!

Half of our mortgage is still at just over 1%. This runs out in two years. Our other half is at 4.5% for 5 years. In two years our cheaper mortgage will go up whilst the other stays the same. The only way it won't is if we pay to come out early to secure a lower interest rate which I doubt would be worth it.

Just hoping interest rates come down in the next two years!

Our house is in a very expensive area and a good size though so worst case scenario we could move to reduce our mortgage.

£292 👀 3 bed house

I rent. It's 114 a week for a 3 bed semi in a peak district village.

Ah yes didn't realise you had done a PT was just thinking you had taken out a whole new mortgage. Yeah you probably wont get 1% again. Still relative though, and dependent on your incomes. Plenty of people pay more than you will be doing (some a LOT more).

Ours is just over £800 on 10 years fixed at 3% for main mortgage and 2.24% for extra borrowing. We were lucky as we did this just before interest rates went up in 2022.

Well I started a new build

First few weeks when all systems go mortgage turned down for no good reason

I managed to pay the builder 200k
I have 20k left to pay

I have Loans totalling 3800 per month for the next four years

It is scary but I am taking on a few new jobs to try and manage it !!!

£385 plus £190 service charges
Am single and on min wage though so no money for a big mortgage!

£2100 rent for a small 3 bed terraced house in London.

Ours has gone up from 480pm to 650pm, interest rate is now 4.75%. 3 bed semi with large garden and drive in the NE.

Equivalent of £2600 a month for a 3 bed house in Western Australia

I'm the same as you OP! Mortgage is £2,100 for a three-bed in London. It is what it is - obviously I'd like it to be left and with me being pregnant now, there's decades of tight years to come but we'll manage.

Yikes. Ours is £560 which is plenty.

Around this way, £560 a month may pay for a garage hire ☹️

£470 - 4 bed house social housing

Now paid off (nearly 60) but last year was just under £1000 a month. Extended 3-4 bed semi in South Manchester. That included adding to the mortgage for the extension.

On a 1.34% luckily fixed till November 2026 is
£440 but paying £640 a month. A 4 bed semi.

Over £2500. Which is a 30% mortgage on a house on the outskirts of London.