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mortgage repayments as a percentage of take home pay
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I suppose you must either guess at future increases in mortgage interest rates, or plan on taking a (say) five year fix.Free the dunston one next time too.0
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Every person is different and takes risks as they see fit. I've done the whole UCB - self certify mortgage, the interest only with no repayment vehicle and the NRAM borrow whatever you can get away with mortgage - makes me wince when I think back - some were 60+ % of take home pay. I'm not advocating those risks and indeed all have been outlawed now.
Now I'm with Nationwide on a sensible repayment and have maybe £350k equity as a single mum - but it could have been very different.
Do what you feel happy with and forget the " advisors" .... It's you that will be laying awake worrying about paying every monthStuck on the carousel in Disneyland's Fantasyland
I live under a bridge in England
Been a member for ten years.
Retired in 2015 ( ill health ) Actuary for legal services.0 -
Why is this sum so daunting?
Monthly payments can't be more than renting? You have to live somewhere
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