Jump to content
House Price Crash Forum

How Much Of Your Salry Goes On Rent/mortgage?


Recommended Posts

Mine is a quarter, but I'm making huge overpayments at the moment to take advantage of the low fixed rate I'm on. So I'm paying a third of my salary in at the moment, which is rather crazy when I think about it.

Not crazy at all. We've done the same. 6 yrs to all but clear a 25 yr repayment mortgage.

Link to post
Share on other sites
Not crazy at all. We've done the same. 6 yrs to all but clear a 25 yr repayment mortgage.

I want to remortgage and over pay mine. I owe £17K and have 4 years to pay it back, the sooner the better!!

Maybe I can convince the BS that the £17K is not worth their trouble and that if they want they can write it off!! :) Would suit me sir!

Link to post
Share on other sites
Not crazy at all. We've done the same. 6 yrs to all but clear a 25 yr repayment mortgage.

No wonder the UK is heading for recession. You were meant to be out over-spending for 25 years feeding on the HPI :P

If and when I take on another mortgage it will be a 10-15 year term with no penalties for over-payment and I would aim to keep the scheduled repayments below 33% of our combined household net income. (Gross salary calculations are meaningless.)

JY

Link to post
Share on other sites
If and when I take on another mortgage it will be a 10-15 year term with no penalties for over-payment and I would aim to keep the scheduled repayments below 33% of our combined household net income.  (Gross salary calculations are meaningless.)

JY

Snap - although I use combined household net income less essential spending. "Frivolous income" ie a decent chunk each month to do anything you like with is my eventual gauge.

39 yrs old now, too old to have a mortgage of more than 15 years.

Link to post
Share on other sites
True.  Maybe I should put another poll up to ask how much of people's take home pay goes on their mortgage/rent?  Unless that's what people assumed I meant anyway?

Not exactly a FTB, but I'm not on the property ladder, but if I did buy a 2 bed house (one that isn't that great), I'd be looking at paying around 35-40% of my take home salary per month on the mortgage alone. That to me is unacceptable.

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.

  • 442 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • 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.