What % of your take home pay do you spend on your mortgage?

[F3RNY7]

As per title, I'm interested to know what % of people's take home pay they spend on their mortgage (or rent)

If you overpay, please disregard this and just take the normal payment as a percentage of your net pay.

It you are in a couple and pay your mortgage jointly please use joint pay and state that it's taken over two incomes and not one.

For us our mortgage is 30% of our combined take home pay. No idea if this is high, low or indifferent.

[F3RNY7]

I should have added that we are paying through the nose as we only had a 5% deposit. In a couple of years when we're up for remortgage, I'm hoping to get onto a 90% LTV product which will hopefully drop our ratio to ~25%

[F3RNY7]

pimpchez said:

I am in the same boat , after graduating i did the 5% thing instead putting the cash into a evo.Now 4 years into the 40 years , you realize fk all has been paid off but interest. Just overpay it as it is , re mortgaging could cost you another £1000 in fees

Yeah I think we'll have paid off something like 5k in two years. So I've calculated that if the property rises in value by 7k in two years we should be able to remortgage at 90%LTV without putting any additional cash in.