We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
What % of your income goes on your rent/mortgage?
Comments
-
Currently 87% of my income in July it will be 0% (paid off - whoop whoop!) I'm 27 OH is 41. Agree with Hawk30 I was a FTB and didnt struggle in the early years although everyone assumes OH has paid the majority he was a penniless divorcee when I met him 6 yrs ago, it's my income that's used for our MSE strategies!0
-
It's supposed to be 18% but with overpayments, we're currently at 31%.
My plan is to get it to 37% by year end."One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
I think there is an assumption that all ftbs (which we were) must stretch themselves to the limit to buy a house. If I had done that I would have a £300k house instead of a 200k house.
I would say that overpayments are a sensible route to take - 2.5 years ago I owned 33% of my home and now I own 50% (assuming static house prices).
Depends on whether you can afford it - you also have to think about pension contributions.0 -
We're renting at just under 19% of our joint income. I reckon when we buy a house in a couple of years we'll be paying maximum of 25% of joint income to start off with.Savings target: £25000/£25000
:beer: :T
0 -
Around 20%Bad luck breeds bad luck.
Damn I'm doomed.0 -
23% of single income (or about 12% of joint but OH self employed and work not guaranteed - I bought the house on my own single income and payments at the start were 27% of income (Income Gone up since!)Weight loss challenge, lose 15lb in 6 weeks before Christmas.0
-
We pay 23%. We are 41 and 36 and we are also going to start making overpayments soon, so this % will go up.Emergency Fund £0/£500
£365 in 365 Days #18 £520/£520
£2.00 Savers Club 2017 #11 £300/£3000 -
About 6% of household income but we are overpaying the mortgage so more than this in reality. This amount is low as we were mortgage free before we moved house.0
-
52%. Me and the OH live in a shared house and I'm paying for all the rent at the moment (utilities included - which is why it's so much!).
No wonder I have no money left each month!!0 -
Our mortgage is 25% at the moment and I am late thirties and he is early forties.
With the £1000 overpayments I have been making the last few months it is more like 66%. No wonder I feel poor.:p0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.6K Work, Benefits & Business
- 600K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards