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straw poll - what percentage of your family income do you spend of rent (or mortgage)?

15 replies

Kif · 20/08/2008 22:06

... because I'm slightly alarmed we might need to spend more than half our income to get something genuinely big enough ...

OP posts:
pinkspottywellies · 20/08/2008 22:07

Not far off half

CarGirl · 20/08/2008 22:08

Gross or net?

We spend 15% of our gross (and that is our payments over 30 years!) I don't want to think about how much it is net, probably 40% at a guess.

missingtheaction · 20/08/2008 22:09

lone parent, only borrowing about 20% of the value of the property so only spending about 15% of my income on the mortgage. probably not a very good yardstick for you

Kif · 20/08/2008 22:11

net

OP posts:
blueskythinker · 20/08/2008 22:13

10% of net salary - but we bought smart before the housing market took off.

SingingBear · 20/08/2008 22:14

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TheGreatScootini · 20/08/2008 22:15

40% of our combined wages every month.Interest only at the moment as well.

Kif · 20/08/2008 22:16

I wanted to spend much less - but I've had lots of from agents re: too few bedrooms for number of people .

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CarGirl · 20/08/2008 22:20

How big is your family? We've got the cheapest 3 bed terrace in our area and there are 6 of us. I included child benefit, CTC, child maintenance in my income btw - if it were just on incomes it would be about 55% of net income each month (eek perhaps more)

fiodyl · 20/08/2008 22:22

18.5% of net income spent on renting a council property.

It would be 50% if we rented from a private landlord and 75% if we were paying a mortgage.

sweetgrapes · 20/08/2008 22:27

35% of take-home, interest only.

ranting · 20/08/2008 22:33

About 15 percent of our combined net income on a repayment but we both had the proceeds from two properties (one mine, one his) which we used as deposit and we bought before the market soared.

dilemma456 · 22/08/2008 18:49

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StellaWasADiver · 22/08/2008 18:51

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ByTheSea · 22/08/2008 19:10

About a third of DH's take home pay goes to the mortgage (used to be less but we've refinanced a couple of times now).

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