percentage of salary that goes towards your mortgage

bossanova_2

Ours is 47.42%, and that is including child maintenance for 2 children and tax credits as income. Wish i'd never re-mortgaged but had to buy out ex-partner/or sell house. Tied in too till feb 09 on a rate of 8.4% unless i can find £7986 redemtion fees before then.....oh joy.

:rolleyes:

:rotfl:

bossanova_2

Also i worked out (god knows why?) in a few yrs when no longer entitled to maintenance and tax credits, due to kids ages, it will be 82.20% !!!!
An income boost needed i think.

mrs_deadline

Ouch :eek: but if it was that or lose your home it sounds like you didn't have a lot of options, bossanova, and it will be a joy when you manage to get shot of that leech, I mean lender!

Ours is 33% of joint take-home pay, with seven years down and seven to go. We were paying less when it struck us that we could afford to clear it faster, so we reduced the term. Fortunate position to be in, definitely.

CopperPlate_2

Probably around 26%, so would like to increase it up to 30% which means increasing the payments, but I figure we can manage the extra £80 or so a month.

Badger_Lady

Mine's 37% and I find that quite comfortable. My last job / flat was 50% and was fine as long as I didn't try to have any fun!

starlet10

Ours is usually 30% of our take home pay, but we have been overpaying for the last 6 months so it's 60%. No other debts and due to be mortgage-free in 4 months time (March 2008) which is 7 years early! :j

lexa34

My rent is about 35% and debt payments of £12k to pay off.

love2save

Ours is 25% of OH take home pay...but we now pay the same again in overpayments so really 50%. Only have a small mortgage of £46,000 though as we bought my council home 6 years ago

reformedEffortMaker_2

Mine is 61%. Thank god I dont have any dependents!

[Deleted User]

20% of our joint income or more like 37% of my income since it comes out of my wages.

Thankfully, we've both had promotions in the last year and that's taken the mortgage down to 3x our joint salaries (our first house, had it a year). Dunno why we're paying interest only though. Might need to think about that