View Poll Results: % Of Salary on Mortgage
Own :- 1-10%
4
3.15%
Own :- 10-25%
21
16.54%
Own :- 25-45%
32
25.20%
Own :- 45%+
4
3.15%
Joint :- 0-10%
4
3.15%
Joint :- 10-25%
29
22.83%
Joint :- 25-45%
13
10.24%
Joint :- 45%+
2
1.57%
No mortgage, i own my house outright
18
14.17%
Voters: 127. You may not vote on this poll
Salary Vs Mortgage Poll....
#1
Salary Vs Mortgage Poll....
In terms of % how much of your take home salary do you fork out in mortgage payments?
Not interested in how much you earn, or how much your house is worth so no ***** waving please Just be interesting too see how much of our salaries are taken up by mortgage payments.
For those mathematically challenged (monthly mortgage £x / monthly take home £x then x100)
I am a fairly new FTB and i pay around 42% of my take home salary towards the mortgage I pay it on my own hence why the 42% figure.
If you have a joint mortgage, obviously work out joint income %.
Thanks
Not interested in how much you earn, or how much your house is worth so no ***** waving please Just be interesting too see how much of our salaries are taken up by mortgage payments.
For those mathematically challenged (monthly mortgage £x / monthly take home £x then x100)
I am a fairly new FTB and i pay around 42% of my take home salary towards the mortgage I pay it on my own hence why the 42% figure.
If you have a joint mortgage, obviously work out joint income %.
Thanks
Last edited by Mitchy260; 13 September 2007 at 11:26 AM.
#3
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Mine is 43.75% of my take home........
But dont forget Bills too. that is 21.87% of my take home too.
So in totall... 65.62% of my take home pay goes on the roof over my head.
Most depressing really.
But dont forget Bills too. that is 21.87% of my take home too.
So in totall... 65.62% of my take home pay goes on the roof over my head.
Most depressing really.
#4
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25% if I include the overpayments we make every month. 21% if not. We got lucky buying before the prices went bezerk.
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For those mathematically challenged (mortgage £x / Take home £x x100)
Example:
Mortgage = £100,000 / 3500000 (35,000*100) = 0.02857%
However I don't think this is the case.
Interestingly if I ditch the wife and move back into my old house I would pay around 8%.
Last edited by orbix; 13 September 2007 at 11:28 AM.
#10
#11
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yes it is payment per month on mortgage £500 / take home pay each month say £1500 x 100 = percentage.
The above is close to mine, i deliberately went for no more than 3 times my salary so i pay a third of it in mortgage payments per month (actually 31%)
5t.
The above is close to mine, i deliberately went for no more than 3 times my salary so i pay a third of it in mortgage payments per month (actually 31%)
5t.
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#15
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38% for me living on my own, was fairly comfortable when it was a joint mortgage but now once the bills have come out etc Ive used about 68% of my wage
#16
The French use the 33% rule, if your payments are over 33% of your income the bank will most often than not reject your application. Where as we use the 3.5 x salary rule - or 4 to 5 times in some cases!
#17
My mortgage is bigger than yours [waves *****]
Mine is about 60% of my net (but that is on a short a term as I can manage while keeping a few pennies for fun money)- her indoors keeps her money to do as she pleases.
#18
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I know its not a mortgage...
I'm renting but it costs me £750pm for a two bedroom house, + bills and basics it comes to about £1,100.. nearly 44% of my take home! *BUT* if I had a mortgage on the same property I would be paying £1,100 alone in mortgage payments, so instead every month I put £350 into a high interest account to save for a decent deposit so I'm in a strong position when house prices inevitably slump
I'm renting but it costs me £750pm for a two bedroom house, + bills and basics it comes to about £1,100.. nearly 44% of my take home! *BUT* if I had a mortgage on the same property I would be paying £1,100 alone in mortgage payments, so instead every month I put £350 into a high interest account to save for a decent deposit so I'm in a strong position when house prices inevitably slump
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Thats ok, my ***** is bigger than yours (waves mortgage statement)
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interesting poll. results are about what one would expect i suppose (although taken with a pinch of salt because you can't always rely on 100% honesty!)
[waves *****]
[waves *****]
#23
£1300 per month x (100/12=8.33 x 1300) = £10829 per month salary or thereabouts Thats a salary of £212k per year
Any particular reason why your on an interest only mortgage when you pay very little of your take home? What do you do with the other £9500 every month
Last edited by Mitchy260; 13 September 2007 at 01:13 PM.
#24
£270k mortgage and only 12% Quick look and a £270k interest only mortgage is around £1300pm (assuming 5.79% and 25yrs)
£1300 per month x (100/12=8.33 x 1300) = £10829 per month salary or thereabouts Thats a salary of £212k per year
Any particular reason why your on an interest only mortgage when you pay very little of your take home? What do you do with the other £9500 every month
£1300 per month x (100/12=8.33 x 1300) = £10829 per month salary or thereabouts Thats a salary of £212k per year
Any particular reason why your on an interest only mortgage when you pay very little of your take home? What do you do with the other £9500 every month
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I have an interest only mortgage as i figure my investments and company value increase by greater than the loan rate (aside from a couple of years that's been the way since i got my first home 12 years ago) I will clear the debt in the future via those savings as plan A, by selling my business as plan B and via inheritance from parents as plan C.
As for surplus income (bit rude?) it gets spent on all sorts...what do you spend yours on??
aslo our interest rate is a bit lower than that (although dont look forward to jan when the 3 yr fix we are on ends )
Last edited by The Snug Rhino; 13 September 2007 at 02:44 PM.
#28
Looks like the usual pathological liars are out in force. These kind of 'how much are you worth' threads always bring them out.
Must be due to some kind of deep seated inadequacies on their part.
Must be due to some kind of deep seated inadequacies on their part.
#29
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Something prob done best via PM and involving the mods to ensure fairness but would be a nice way to see some money go somewhere decent.