Mortgage debt as a % of income

Morning,

Just to motivate me to continue on my journey, I was wondering what your % mortgage debt to income is?

When I took the mortgage out I was earning £21,000 and borrowed £130,300 = 620.5% :eek:

At the moment I earn £26,160 and owe £121,800 = 465.6%

Still high but it's coming down =)
Original Mortgage Debt - £130,330.
Current Mortgage Debt - £116,605.
2010 O/Ps - £5,000. 2011 O/Ps - £1,978.42.
Original Loan Debt - £6,000. Current Loan Debt - £3,500.
Original HP Debt - £1,000. Current HP Debt - £240.
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Replies

  • Two9ATwo9A Forumite
    274 Posts
    Currently £152,245 in hock to the banks (I'll update my sig to reflect the payments today), which is 540% of income.

    Of course, I'm buying another place at the moment, so that pushes it to 790%... I'll find a second job, perhaps? :rotfl:
    Debts (26.3% remaining) - CC/BARC: [strike]2058[/strike] 100.00 @0%; CC/MBNA: [strike]1877.75[/strike] 0.00; Loan/SLC: [strike]10000[/strike] 7901.84 @1.5%; Loan/Per: [strike]1500[/strike] 0.00; Loan/HX: [strike]15000[/strike] 0.00
    Mortgages (94.7% remaining) - NW: [strike]92516.94[/strike] 87565.40 @3.19%; HBOS: [strike]65599.57[/strike] 59106.45 @4%, [strike]69251.57[/strike] 68589.97 @3.49%
    Total amount of fail: Dangerous (223263.66)
  • Two9A wrote: »
    Currently £152,245 in hock to the banks (I'll update my sig to reflect the payments today), which is 540% of income.

    Of course, I'm buying another place at the moment, so that pushes it to 790%... I'll find a second job, perhaps? :rotfl:



    790%!!! Wowsers!! As long as you can afford the repayments I suppose!!! :p
    Original Mortgage Debt - £130,330.
    Current Mortgage Debt - £116,605.
    2010 O/Ps - £5,000. 2011 O/Ps - £1,978.42.
    Original Loan Debt - £6,000. Current Loan Debt - £3,500.
    Original HP Debt - £1,000. Current HP Debt - £240.
  • dave82_2dave82_2 Forumite
    1.3K Posts
    Interested in what % of their income they spend a month on mortgage.

    These figures sound scary but as above as long as you can afford the repayments no real worry!
  • Denzel09ukDenzel09uk Forumite
    161 Posts
    Mine is 152,000 with a percentage to income of 543% :o
    Investments - £1,290.62 (Shares on a DRIP Strategy)
    Mortgage Balance - £189,662.09
    Credit Card Debt - CLEARED

    LOAN - CLEARED
  • 331%.

    Northern Rock at one time offered 7 x income to me!!!
    Please do not confuse me with other gratefulsforhelp. x
  • VixstarVixstar Forumite
    967 Posts
    Part of the Furniture
    Forumite
    Interesting way of looking at it. My mortgage is 163% of my annual income so not as bad as some (until I move!) and my monthly payments are about 17% of my take home pay so fairly comfortable.
  • edited 24 June 2011 at 12:38PM
    dave82_2dave82_2 Forumite
    1.3K Posts
    edited 24 June 2011 at 12:38PM
    Vixstar wrote: »
    Interesting way of looking at it. My mortgage is 163% of my annual income so not as bad as some (until I move!) and my monthly payments are about 17% of my take home pay so fairly comfortable.

    You sound lucky! :-)

    300% of gross per year and 31% of take home per month - house hold.
    500% of gross per year and 54% of take home per month - mine

    P.S. hope people realise that if they give their mortgage value and percentage we can work out your income! Some people might be cool with sharing that anyway!
  • VixstarVixstar Forumite
    967 Posts
    Part of the Furniture
    Forumite
    Didn't realise how lucky I was until I actually wrote it down, helps that I only have a one bed flat that was cheap to start with combined with a very good pay packet.
  • My mortgage repayments including OP's are....50.25% of my take home pay eeeek!!
    Original Mortgage Debt - £130,330.
    Current Mortgage Debt - £116,605.
    2010 O/Ps - £5,000. 2011 O/Ps - £1,978.42.
    Original Loan Debt - £6,000. Current Loan Debt - £3,500.
    Original HP Debt - £1,000. Current HP Debt - £240.
  • dave82_2dave82_2 Forumite
    1.3K Posts
    I guess again its all relative if you are earning 10k a month than 60% on a mortgage wouldnt be that bad!
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