We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. 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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Bills as % of Pay
83dons2
Posts: 50 Forumite
I am looking to purchase a bigger house and was wondering what the accepted % split of gross or net pay to mortgage and to total bills is? I realise there will be a conservative and less conservative end to this % figure. Just wanted to make sure I don't go for too big a property that will leave me short each month. I am immediately constrained by the lender Santander to 4.5 times my gross salary for a maximum borrowing figure which is good but I was wanting to look at the bigger picture of what is acceptable when looking over all outgoings compared to net wage in.
0
Comments
-
50% of £10,000 a month pay leaves a lot more disposable income than 25% of £1500 a month. in other words, everyones situation is different
Sit down and write everything down and see where you are comfortable. You can always overpay if you get it wrong but will find the lender wont appreciate if you try to underpay.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards