Jump to content
House Price Crash Forum
Guest Yeahbutnocrash

How Much Of Your Salary Do You Spend On Your Mortgage Or Rent?

Recommended Posts

Guest Yeahbutnocrash

Roll up roll up! :D

Lets see the impact of IR rises & how it compares for renters

Edited by Yeahbutnocrash

Share this post


Link to post
Share on other sites

You need to clarify net or gross salary and you also need some smaller % bands from 1 to 5% I think...

Scratch that. I was thinking of my monthly rent versus my annual salary.

Edited by AvidFan

Share this post


Link to post
Share on other sites
Guest Yeahbutnocrash
You need to clarify net or gross salary and you also need some smaller % bands from 1 to 5% I think...

Let's go for NET salary

In terms of % enter what's closest

Share this post


Link to post
Share on other sites

18% of net towards my mortgate but that is because I overpay. Otherwise it would be 3% for interest and probably 5% to get it paid off in time. Interest rates affect the 3% and 5% figures only, I always pay the same amount each month. Voted for 15% because I did it in my head first.. :rolleyes:

Edited by HOwner

Share this post


Link to post
Share on other sites

I work it out as 33% . Wow! To buy the property I live in would make it 53% on a repayment

I am getting screwed either way, front and behind! :lol:

LONDON btw

Edited by me me me

Share this post


Link to post
Share on other sites

Is this just net monthly take home exluding bonuses, pension, health cover etc or overall net remuneration? And this is interest only presumably? What about service charge & council tax & other living costs etc?

Edited by Benedict

Share this post


Link to post
Share on other sites
22 don't have a mortgage and 10 don't pay rent? WTF. :o

That's right surely? 32 votes, some pay mortgage but no rent, some pay rent but no mortgage.

Share this post


Link to post
Share on other sites

For me 18% i.e. our rent halved and split between the gf and I. Someone like my brother (currently single) pays a whopping 28% :blink:

Couldn't actually vote though: kept getting an error message.

Share this post


Link to post
Share on other sites
That's right surely? 32 votes, some pay mortgage but no rent, some pay rent but no mortgage.

Ah, I misunderstood it, I read it as 22 do not have a mortgage ( paid it off) and 10 don't pay rent ( live at home)

TFFT :lol:

Share this post


Link to post
Share on other sites

31.5% here on rent.

If I were to have a 100% mortgage on the same property it would be over 50%.

Luckily I earn a reasonable amount and have plenty left to play with each month.

Share this post


Link to post
Share on other sites

29% of net, 32% if you throw in the insurance + mortgage protection. Easily manageable at present, and fixed till April 2009 - the month after I make my my final student loan repayment (the repayments are roughly equivalent to 1% IR rise on my mortgage, so that gives me a bit of a cushion against the inevitable further rises).

Was paying 20% when I rented, but that was for a smaller property with one less bedroom and a galley kitchen.

Share this post


Link to post
Share on other sites

10% of net income goes on rent, renting a room up north with utilities/tv/bband etc inc

slightly less than my car loan

also slightly less than my monthly petrol

Share this post


Link to post
Share on other sites

i pay 40% of my salary into my mortgage as a requirement. i have a fairly high salary so i overpay by a few hundred quid a month too and still have enough left over for socialising , holidays, savings, etc. paying a high proportion of your income is a bit misleading because higher earners can pay higher proportions and still have plenty over for a "nice life".

Share this post


Link to post
Share on other sites
I overpaid as much as possible, got rid of mortgage after 12 years, wonderful feeling when it's over.

Better than sex

Regards

Rob

Poor old you :P

Share this post


Link to post
Share on other sites
Guest d23

so 66% of renters here pay less than 20% of their net salary in rent?

wonder how that reflects with the 'real world', seems very low to me

Share this post


Link to post
Share on other sites
Guest Yeahbutnocrash
Maybe could have included a space for those that neither pay rent or mortgage. I.e. own out right

Yep - Could do an improved version in a few months maybe after the next IR increase(s)!

25% of my salary goes on my repayment mortgage

Share this post


Link to post
Share on other sites
so 66% of renters here pay less than 20% of their net salary in rent?

wonder how that reflects with the 'real world', seems very low to me

Maybe people are living in shared accomodation - as I am.

If I was to rent on my own my monthly payments would more than double and so be over the 20% mark.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 355 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.