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Debate House Prices


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% of your take home salary on mortgage payments?

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Comments

  • udydudy
    udydudy Posts: 559 Forumite
    Part of the Furniture Combo Breaker
    KimYeovil wrote: »
    On what planet are people paying £160 per month for rent/mortgage?

    On this planet dear. Our mortgage this month was £163 that too with out the last 2 0.5% rate cust factored in. We have a 83% LTV. waiting for the £55 a month once the 2 cuts are factored in.

    Quite a few people have been on £0 a month since the February cut. and a lot more since the March cut!!. now only if the banks pay all the guys with the -ve interest rates!!!.:beer:
    :beer::beer::beer:
  • Cleaver
    Cleaver Posts: 6,989 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    The total mortage payment for our main property and the place we rent out adds up to 18% of our net take home pay.

    However, we're overpaying so it's more like between 40% and 70% each month at the moment.
  • PinkTwirl
    PinkTwirl Posts: 589 Forumite
    I was paying 35% up until a couple of months ago when I rented it out. Now it's 29%.

    It must have been more when I first bought. I think it was 40%.
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    KimYeovil wrote: »
    On what planet are people paying £160 per month for rent/mortgage?

    I can honestly say if you are on a +.49 BOE BOE traker IO is below that if you have a £175K Mortgage.
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    Really2 wrote: »
    I can honestly say if you are on a +.49 BOE BOE traker IO is below that if you have a £175K Mortgage.
    Which is extraordinary. The danger is that people get used to it. Round the corner lies higher interest rates, higher prices and higher taxes. Be prepared.
  • Martinslovechild
    Martinslovechild Posts: 1,560 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Unfortunately, this is one of the few threads that I can't participate in.

    Does 0% count???

    :j
    Mortgage Feb 2001 - £129,000
    Mortgage July 2007 - £0
    Original Mortgage Termination Date - Nov 2018
    Mortgage Interest saved - £63790.60
    ISA Profit since Jan 1st 2015 - 98.2% (updated 1 Dec 2020)
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I'm going to start a parallel "peasant renters" thread, just to join in ....
  • digipeep
    digipeep Posts: 87 Forumite
    KimYeovil wrote: »
    On what planet are people paying £160 per month for rent/mortgage?

    This planet my friend. My repayment mortgage is £40k at 2.34%, working out at around £180 per month (£250 a month at 5%). When I took out the mortgage my salary was £14k back in 1993, so I was under the 3.5x multiple by 9K.

    Even at todays house prices there is a long long way for them to drop yet.
  • treliac
    treliac Posts: 4,524 Forumite
    PasturesNew wrote: »
    parallel "peasant renters" ...

    Kinda reminds me of plucking pheasants.
  • Extant
    Extant Posts: 2,140 Forumite
    About 41%, but that's with overpayment.
    What would William Shatner do?
This discussion has been closed.
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