How much would you be comfortable paying towards a mortgage per month

Looking to up size this year. And I will be looking to keep the mortgage under a weeks take home pay again. So 25% then. Not looking forward to it, as my current mortgage has be only 10% for the last few years with the low interest rate.
 
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I'd be comfortable with a third. When I lived on my own, I had a mortgage of £150,000 which came to roughly £550 a month.

This was in east London.
 
I had a mortgage of 90k over 25 years, was £400 pcm. Was manageable with some cash left over but closer to 30k earnings.

Also worth bearing in mind you might be able to look at renting a room out to help with the bills etc. You can earn up to £4250 tax free each year doing this. https://www.gov.uk/rent-room-in-your-home/the-rent-a-room-scheme

You could do that for a few years whilst you increase earnings/build equity, then you can drop the extra tenant when you are comfortable covering all yourself :)
 
Hmm wife and my combined income, 30% give or take 1% goes on the mortgage payment. Currently unable to over pay, and no holiday this year or next. Various reasons why. Namely car issues, some house problems. Expensive issues.

Our last house worked out 23% of our combined, just under, maybe nearer 22%.

So I wouldn't want to go higher than 35% ever.
 
rossk26 said:
Took out a mortgage last year, I'm on £21k and pay £390 a month.
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North East differs immensely...

£21k round here wouldn't get you a mortgage....

Banks are willing to lend you ~4x your salary on an individual basis. So in your case £84k. Plus your deposit.

Round this way if you had a £100k deposit (which would take 6 years of you saving EVERYTHING on £21k) you would still struggle to afford a 1 bed flat.
 
Around £500 if purely on mortgage. Adding on bills etc will probably add another £150ish and then £100-£150 for food. Could live quite comfortably like that with enough spare to still have a social life, go on hols and save a bit each month.
 
Well on £25k you get £1673 after tax, so as long as you can cover all of your expenses on around £1k you should be OK, with a little cash left over to have some fun with or pay for random things.
 
our mortgage is £797 (10% deposit on £196k flat). Joint but partner goes on maternity leave in August. Thankfully I earn £31k + OT. Going to be a tight squeeze for a while (next 20 years probably haha)
 
Long tiime ago now, but my first mortgage repayments were about 50% of my take home pay. Yes, for the first 5 years it was tough, but inflation and pay rises eventually make it easier.

You should forget having a holiday every year and lots of "toys" if you're serious about getting a house.
 
We bought our first house (2005) on a joint income of £26k with payments around the £580 mark at the time. (Purchase price was £100k) It was OK, tight but OK, make sure you fix though as you really don't want a nasty surprise. This was around 30% of take home.

If you are in a more expensive area, it gets much more complicated mind.
 
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