% of your take home salary on mortgage payments?

swingjune

We bought the house 6 months ago and our mortgage payment is 28% of hubby's take home pay.

OH just got a good pay rise and bonus (his company achieved record sales in 2008), we could save more for the mortgage redemption :j

baileysbattlebus

ukcarper wrote: »

Another thing to consider is that a lot of people have been living in the same house for over 10 years I have been living in my house for over 20 years and a lot of people who were living in road when I moved in are still here.

We have been living in our house for over 16 years (bought at the bottom of the last crash - sold at the bottom too). Most of the residents in the road have lived here longer than we have. Since we moved in there have been 7 changes of ownership and 3 of those were the same house. There are 19 houses. We live in Berkshire.

I haven't worked it out properly but roughly our mortgage is less than 5% of OH's take home pay. It's a bit more than our car loan.

kunekune

A lot of the people with very small incomes will be either young, unemployed/living on benefits or pensioners. These people often don't have a mortgage. I don't think you can compare the 'average' mortgage with the 'average' income, because the population that average is taken from is not the same. Also, as a number of people have pointed out, the length of time you've had the mortgage is relevant because of inflation: a small mortgage that is recent tells us something different from a small mortgage taken out 20 years ago.

lostinrates

Really2 wrote: »

I am just stating it is unwise to give out personal info. no need to get funny.:(

I agree it is unwise to give out personal information. Thats why I said 'rough location' . I was not 'funny', .

A virtual drink?:beer: Mine is a pousse-cafe

FlowerPower

Mine's 44% - single income. Didn't realise how ludicrously high it was till I read this thread :eek:. Ah well, tied in to my fixed rate till August, but should hopefully be less painful after that - until the rates start to shoot up!

Really2

lostinrates wrote: »

I agree it is unwise to give out personal information. Thats why I said 'rough location' . I was not 'funny', .

A virtual drink?:beer: Mine is a pousse-cafe

Sorry, shame we can't put a tone on the internet
:beer: Builders tea for me.(i presume they are even stronger now as they have more time to make them:))

baileysbattlebus

kunekune wrote: »

A lot of the people with very small incomes will be either young, unemployed/living on benefits or pensioners. These people often don't have a mortgage. I don't think you can compare the 'average' mortgage with the 'average' income, because the population that average is taken from is not the same. Also, as a number of people have pointed out, the length of time you've had the mortgage is relevant because of inflation: a small mortgage that is recent tells us something different from a small mortgage taken out 20 years ago.

Our small mortgage taken out over 16 years ago was for £80k.

lostinrates

Really2 wrote: »

Sorry, shame we can't put a tone on the internet

It is safe to assume I am never heated. almost never. never on the internet, in anycase, as I have said to you before. If I were I would switch off and never come back.

I save the full force of my non homeowners pent up fury for socks balled up in trouser legs and getting into a coloured wash, or the cats walking across the freshly made bed with filthy muddy feet. My very lovely and ridiculously indulgent kingsize linen sheets are a PITA to iron, and the cats are asleep so I can't even strip the bed and rewash immeadiately.

JayScottGreenspan

Life's too short for ironing sheets. If you start ironing pants or hankies it's time to call for help.

Really2

JayScottGreenspan wrote: »

. If you start ironing pants or hankies it's time to call for help.

Especially if you are wearing them at the time.