How much is your mortgage a month for a three bedroom house?

[Loulandix]

Interested to see differences.

We pay around £1700 for a three bedroom detached new build a month with garage and small driveway. Not very big & small bedrooms. We live in Essex. It was £1400 until a few years ago when interest rates went up.

What does everyone else pay?

NE. 3 bed 1920s semi with rear extension in rural area
£800 per month. 6 years left on mortgage as have previously overpaid so paying off 8 years early

Between £800-£1000 - it varies on whether we make overpayments that month or not.

3 bedroom townhouse in Scotland, £569 pcm for mortgage which was £168k. We have £100k left to pay.

What is also clear is that mortgages don't include maintenance and repairs

£2000 ish

Not sure what that tells you though really! Other than my mortgage is massive.

£1400 on a £293K mortgage, fixed rate of 1.99% that ends in July... Payments will obvs go up after that. Just into Surrey, edge of a London borough.

It would be the opposite for us. We'd be paying so much more in mortgage than we pay in rent for an equivalent house, that we are choosing to rent even though we have a very substantial deposit and could easily afford to buy.

Three bed 1970s semi, but converted by previous owners so no garage but extra downstairs room, 4 bed-one large, one medium, two small.
Mortgage is 525 pm due to a large deposit from inheritance and fixing at a low rate.
It's a bit of a pointless question though, due to location, when you bought it, rates at the time etc

Not forgetting buildings insurance

Paid now but it was £369. Next door is only 2 bed but being rented for £900 and the same as mine across the road £1200.

396 and we overpay 50 per month. Bought our house (1st home) in 2010. Thanks to inheritances, we only owe 22k on a house worth 340k and will be mortgage free in less than 5 years. Combined, my husband and I earn less than national average.

Although not sure what to do when our fix ends next year as unable to get another without paying a hefty arrangement fee or moving banks due to the low amount. I like knowing the set amount each month.

The madness is you can pass an affordability check to pay £1k a month rent but not mortgage.

The mortgage payments themselves are dependent on many factors, so not a direct relation to how much the property is worth.

A good question to ask is what % of your family income does the mortgage cost.

£800 interest only but our 3 bed is £1m thatch? So I can't see how people can compare?

We will need to find £420k in 15 years. Or move.

How much would those 2 houses cost to buy now?

That's always been broadly the case. We bought in 1996 and our mortgage was £180 pm. There were similar houses for rent on the same street for £350.

But unless you're going to control for interest rate, location, LTV, income multiple and when the property was bought, you're comparing a set of random numbers that doesn't tell you anything as people will be paying anything between nothing and thousands of pounds a month.

£160,000 for the 3 bed, the two bed sold for about £120,000

It's not really as straightforward as 'how much pm' because some people will have a 10 year mortgage and some people will have a 35 year mortgage, and house prices vary hugely.
Mine is £1400 but there's 18 years left. Friends in the same position think my mortgage is huge because they're paying £700 but for another 30 years.
I choose to pay as high as I can, but go without other things for example, holidays etc, others choose to pay less so they have more cash now. So many different circumstances at play.

I wish I lived somewhere like that! I pay £1200 monthly for mine - but it would cost me 430k to buy it!

I pay £680 a month for a 3 bed terrace with kitchen extension, South East seaside town.

10 years left on the mortgage. Will start overpaying from this month.

So likely that at least one of the following applies.

You had a big deposit/previous equity
Prices have risen since you bought this property
You're locked into a long term low interest rate product

No-one starting out today will be able to pay £680 pm to buy a '3 bed terrace with kitchen extension, South East seaside town'.

Rent. Only because I've never been able to save a deposit. Because I rent.
£900 fir a 3 bed.
Saving up a deposit as at 62 I earn better than ever. If I can't get a mortgage my son is going to get a BTL to give me and my disabled DD security of tenancy.

3 bed semi, dire need of renovation as stuck in 1960s, north Essex £1500pcm

£800 a month on a £130k mortgage. The house is worth about £800k and is quite small with a big garden. I’ve totally gutted it and rebuilt it so increased in value. Cost a bloody fortune to renovate though.

£631 a month for our 3-bed semi in Northamptonshire. Consistently over-pay an extra £100-£150 a month though.