A bit noisy but wondered what amount people pay on their mortgage

Amitoocautious

Thanks for all the replies. I would love to be able to have a mortgage of around 500 a month but here in the South East you couldnt even buy a one bed flat for that. I know we could just about manage on one salary but that would only work as long as there were no unexpected costs such as cars breaking etc and that would also be clearing all our savings and i would hate to get back into credit card debt!

mrsc_4

Our mortgage is for 187K and is currently £1200 a month this includes ALL insurances though (part of the mortgage is on our old fixed rate of 5.5 and part is on a tracker rate we've budgeted for increases), our combined salarys are 55k a year. I find these figures a little scary as we have in theory double our mortgage when we brought our house, but in 2 years my Hubby has also doubled his salary.

Poppy9

Well I pay £150 per month on my mortgage with just 3 years left to run.:T OH works full time, I work p-time.

When buying you need to include all the extra costs to see if it's affordable. There is council tax, buildings and contents insurance, water rates, maintenance etc. When owning your own home you do need a rainy day fund in case you have an emergency. Also depending on where you buy will your travel costs increase.

gingerdad

We pay £350.00 per month on our mortgage earning aroung 44k between us

regards

GD

sportbeth

We win! We Win!! £1816 a month in a commuter town in the south east. Oh no..... we lose.

£285k mortgage on a 3 bed house. Nice!

roswell

£135 a month do I win ?

dougk_2

My definition of affordable (with plenty of change left!) is about 30-35% of your monthly income as long as you earn abov £25K... So on 80kpa thats circa £1500 per month

maryjane01

mortgage £232,500, repayments approx £1450, combined income £70,000. This was a 100% mortgage and we have a lodger (he was our flatmate in a rented place before we bought) in our box room that pays £300 a month, all of that goes on overpayments. We are London if you hadn't already guessed. It is a tiny 2 bed terrace house, we are pleased we could buy something with a small garden.

kforshaw

£47k mortgage taken over 20 years, 16 years 9 months remaining. We pay £333pcm now as we had a discounted trackery type mortgage (I'm well up on the terms dontcha know!) which was £240pcm when we started.
We have about £40k remaining on the term and are able to remortgage in September 2007! Wahoo!
Our total income before tax is £31k pa for the two of us - no young sprites yet to take the rest of our money.

tomstickland

£76K mortgage on 1 bed flat in South West. £420 per month on 25 year repayment basis.