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?!

£1240, 4 bed semi, 25 min drive from Manchester. Bought 2 years ago.

£149 on a 3 bed semi with drive and garage in South Yorkshire. Exactly 1 year left.

£615 a month, 2 bed council flat in London within 7 mins walking distance to a zone 1 tube. I'm in the process of buying it under RTB, before Labour snatches away the opportunity!

You'd be better asking it as a percentage of household income. You'd also be best working it out as this for you too.

A mortgage of £1900 may be pennies to some households. To others totally unaffordable.

Our mortgage is 13 percent of our monthly household income. We also over pay an additional 4 percent of our income each month.

Large 4 bed detached house in the East.

It's all relative to mortgage term and LTV.

I have 16 years left, £592 per month. House value 245000, mortgage 65k.

I need to remortgage to fund some repairs so that will take me to 75k and I'll have to extend the term to make it affordable as my salary is shit. Single parent.

3 bed semi in north Warwickshire

Currently, £695 on a bedsit. It's only temporary and I get to live in a big vibrant city by the sea while I embark on the next chapter of my life.

£1800 for a 4 bed in the London commuter belt in the South East. It's a lot, but I love our home.

Don't most providers only allow you to overpay by 10%? I'd previously figured it wasn't worth it as it won't have a major impact enough to reduce LTV but maybe I'm wrong!

Yes. 10% of the original loan amount each year.

Natwest is 20%

Not that we can afford to but it went up to 20% fairly recently.

Madly going from mortgage almost paid off for a 3 bed detached at 500 pm to a bigger semi at 850pm. Xx

£800, four bed detached with an acre of garden, south west.

£330 pm mortgage

£650 for 4 bed semi in the south east - but god knows what it will be when rate runs out

Just remortgaged at 5.09% now paying £503 (inc 10% overpayment). Was paying £400 with the overpayment before at 2.47%. 2 bed end terrace with big garden in Leeds

Surely your income and other outgoings like childcare and car payments/commuting costs are more relevant than other people's mortgage payments?

Currently £2,100 at 1.92%. Expect to rise to £2,850 in October with the end of our low fixed rate - luckily our nursery fees end next month so, he giveth with one hand and taketh with the other!

£1300 for a smallish three bed semi in south east. That was on 2.7% - it will go up to £1550 next month when current rate ends.

£2200 4 bed semi south east

If it all goes through with our purchase, it’s about to be a very big number. Forever home purchase in an expensive village south of London.

10% of the loan amount not 10% of the monthly amount

£2150 for a 4 bed terrace in the NE. We just moved and secured a 4.3% rate which isn’t too bad but hopefully will reduce in the future. Not overpaying at the moment but plan to as soon as we stop paying nursery fees!

£712 pcm

We bought a modest house because we wanted more disposable cash for holidays etc

£1500 for a 4 bed in the south east. We’ll pay off a large chunk when our fixed rate ends so we shouldn’t get hit by the rate rises.

Hello! What do you mean by protection? Is this some sort of insurance ?