How much are your monthly mortgage payments?
 

Sorry if this sounds like i'm being nosey or personal but how much do you pay each month on your mortgage.

Reason being is we're just about to buy a new house for £240,000. We've been in our first place for 10 months but want something bigger. Our mortgage payments are going to be £1450 a month.:eek:

Its interest and capital and yes we can afford it but is this a lot of money to pay on a mortgage each month?

If your take home pay is £2k a month yes, if its 4k a month maybe, 6k no.

HTH. :thumb:

The fiancee and I take home around 4k a month but obviously want a comfortable life too. Bills Bills Bills!! Cars Cars Cars!!!!

The French use a 33% rule, and IMHO its a good idea. If the payments are more than 33% of your monthly income then you are running into trouble. I guess a lot of people in the UK will be way over the 33%.

1/3 of my monthly income goes on the mortgage payments....

Not inc

NTL, Council Tax, Pensions, Loan, TV license etc

It doesnt half add up. Worked out earlier what I pay in direct debits and almost fainted :eek:

All relative to income really isn't it? :Whatever_

What may seem mad to one may seem affordable to another.

I was paying just over a grand a month a couple of years ago and wouldn't do it again as it stretched things a bit too tight for my liking. Sold up and all is good now though :thumb:

Dave :cool:

26% of joint, 31% of mine alone. Capital Repayment.

£0/month

After a few years of struggling to pay double payments and then getting redundancy in march 2006 we finished the mortgage last summer.

Have been tempted with buying a second property to let out but at the moment we are enjoying building our savings again and the flexability allowed me to but the Scoob that I knew was a now or never decision!!

Cheers
AC;)

I think we'll probably be around the 33% mark. I have no debts. All loans and credits cards are paid but just worry that direct debits are going to build and before I know it i'll be skint

If you still have 66% left then that will easily cover everything else - so long as you dont have a Faberge Egg fetish!

Mmmm now wouldn't some faberge eggs look lovely on my window ledges:wonder:

Suppose it all depends on your lifestyle too. 33% of say £800 adding other bills on top doesnt really give you much playdoh does it. 33% of £8000 gives you a playdoh factory ;)

Or an Impreza....oh.....bugger! ;) :D

Dave :cool:

To the OP, 1450 form 4k is OK, its the fiancee bit that may be a bit alarming. Do you have kids? 5 years from now you might have, and if the wife needs to work to keep up the repayments, also factor in £1k per month per child nursery fees - or finding 1450 from a lot less than 4k if she stays at home

Good point

Then factor in the life savings when she leaves and clears you out.

Rent its cheaper when you split nowadays ;) :D

Especially in these troubling times...a few years ago the money made on the house is usually enough to pay the divorce solicitors etc, but nowadays...;)

We did think about this. We have no kids but are planning on having one in about three years. Fiancee wants to wait until she is 25. I'm on 45k a year but hoping for a few pay rises by then. I'd want her to stay at home. Goop point though. :thumb:

Sounds like a good plan :)

Enjoy DINKYness for as long as her biological clock can cope with :thumb: :D

Until your paying maintenance fees for the sprong aswell as your divorce settlement :D

Still bitter Dave then :D

current mortgage is around 900 a month (including insurance) and is a repayment one

it is a struggle, but when I bought the house I was on considerably more money than I am now after a redundancy nearly 2 years ago

What give you that impression? :wonder: :D

...and when she says having 2 is no more expensive than 1 , she's lying through her teeth :D .


Oh, and have all the good holidays *now* , being constrained to school holidays is a fapping nightmare :rolleyes:

As your mrs only earns £250 a month (12 x 4k Minus your 45k) her loss of income wouldn't be noticed. ;)

When you earn over 3.5k a month, kids don't cost anything really to raise. Just don't go paying a grand a month on child care so the mrs can go back to her £250 a month job!!!

£610 pm for me on my own on a £104k mortgage

The joys of living oop North:)

55k Mortgage 370 ish a month

Nice 3 bed Semi with garage bought 10 years ago

me and my mrs paying my mortgage (gonna get her name on in the new year)...

£404 a month (approx £1900 bring home between us)

thing is though i have maybe another 20k of debt then several store cards etc, so we struggle most months, but i wont sell my car, i sacrifice other things:lol1:

gonna re-mortgage new year and clear most of my/our debt, and have a bigger mortgage. some equity in the house now after 2.5 years of the mortgage, and im only 23, so loads of life to pay one off yet:norty:

Our mortgage is £870 per month between the Mrs and me.

We have an average joint monthly income of about £4500 but seem to blow much of it!

My love of old Mercs that do 10mpg doesn't help:D

required to pay £1650, actually pay £2200. Sunny oxfordshire.