Carl
Member
Registered: 9th May 04
Location: Jimmy Bennett's la la land.
User status: Offline
|
Out of interest what were you or more likely you and your partner bringing in? Obviously everyone has different amounts of deposits and different sized mortgages, but just want to get a feel really.
|
RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
|
I was on £25,000 the missus was on £22,000 - our mortgage was £110,000 so just under 2.5x our annual salary. However, we're now on a combined £75,000 so have been overpaying every month - hopefully come renewal time next June, we should be in the position for a good deal, interest rates dependant
[Edited on 12-10-2009 by LiVe LeE]
|
Carl
Member
Registered: 9th May 04
Location: Jimmy Bennett's la la land.
User status: Offline
|
How did you go at first? we are on 36k at present but houses are a lot cheaper up here so it would work out about 2.5x.
|
RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
|
not bad, remember that invariably the first month's payment will be larger than normal as they'll work it from the exchange date with a standard payment date so you could end up paying almost double in the first month.
We didn't get on to bad but then we weren't living there as we were renovating it. We also had a 12month Council tax break as the house was classed as uninhabitable as it had no bathroom or kitchen. Still had Gas/Electric bills to pay and set up a direct debit of £30 for each per month, but we were using nowhere near that - in the end they gave it all back but I had been trying to build up credit so that when we did move in we had a buffer for any big bills - Its definately worth considering; direct debit the same amount through the year, build up a credit in the summer to help keep the payments down in the winter
|
RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
|
our mortgage stands us at £719 per month; I can' remember the rate but all in all we spend about £1000-£1200 each month on mortgage + bills excluding TV License (not got one yet as no aerial on the house) or Food/drink etc
|
Colin
Member
Registered: 4th Apr 02
User status: Offline
|
I was on around 13k when I bought my 1st place. 1 bed flat....offers over 28k it was 
|
Carl
Member
Registered: 9th May 04
Location: Jimmy Bennett's la la land.
User status: Offline
|
Nice one, cheers. It's good to know and get an idea. I just need to wein my girlfriend off holidays, it's what she lives for though.
We are both moving up the career ladder but at the same time we aren't near to starting getting a deposit. I'm also trying to get he to pass her driving test first so its out of the way!
Serious chat time I think soon!
|
Colin
Member
Registered: 4th Apr 02
User status: Offline
|
Our new place the (currently getting built) mortgage is 120k, payments are 650-ish a month (30yr mort). Were on 45k-ish between us rising to 75k-ish within 12 months.
We'll be paying £500 each a month into the joint account to start with & see how far it goes.
|
Kano
Member
Registered: 29th Aug 04
Location: Fife
User status: Offline
|
We are on roughly 35-37.5k and we got a 70k mortgage earlier this year, had a 15k deposit though so got a decent deal.
|
C2RL R
Member
Registered: 28th Mar 02
Location: Redcliffe, QLD
User status: Offline
|
we were on around 35k and bought a 72k house with a 100% mortgage. then 8 months later we split up and i kept the house on my own. it was a bit of a struggle at first but it's fine now.
|
Half Pint
Member
Registered: 25th Mar 02
User status: Offline
|
joint income just shy of £60k house was £185,500 with 10% deposit so amount borrowed was around £166k
monthly repayments on 25yr mortgage = £600
we pay a total of £2000 into a joint account every month to cover all bills / shopping and have some left over for saving
|
Half Pint
Member
Registered: 25th Mar 02
User status: Offline
|
quote:
Originally posted by LiVe LeE
our mortgage stands us at £719 per month; I can' remember the rate but all in all we spend about £1000-£1200 each month on mortgage + bills excluding TV License (not got one yet as no aerial on the house) or Food/drink etc
have you got a TV or Radio in the house to recieve signals as even with a satellite dish you need a tv license as it is still a reciever, and radio is obvious....
|
M2RTY
Member
Registered: 25th May 01
User status: Offline
|
dont need a tv licence for a radio
|
a_j_mair
Member
Registered: 23rd Jan 04
Location: Scotland
User status: Offline
|
first house
on approx £18k ish
was 100% mortgage on £89k property
rented out for £6k per anum
2nd property
approx £25k + £6500 partner
£102k house 70% LTV
|
RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
|
quote:
Originally posted by Half Pint
quote:
Originally posted by LiVe LeE
our mortgage stands us at £719 per month; I can' remember the rate but all in all we spend about £1000-£1200 each month on mortgage + bills excluding TV License (not got one yet as no aerial on the house) or Food/drink etc
have you got a TV or Radio in the house to recieve signals as even with a satellite dish you need a tv license as it is still a reciever, and radio is obvious....
no, no radio and the TV has no receiving capabilities - built in DVD player so only use it for that at the moment; I've actually cut the old cable from the shitty old aerial outside of the hous and its hanging down. The new aerial is in the shed unfitted.
We have a stereo but its CD only with no radio receiver.
We don't live there, we're still renovating but the upstairs is compelted, as we stop a couple of nights a week maximum; I put the TV/DVD combo up there so I don't have to talk to the missus and can watch a film instead
|
Colin
Member
Registered: 4th Apr 02
User status: Offline
|
quote:
Originally posted by Half Pint
amount borrowed was around £166k
monthly repayments on 25yr mortgage = £600
Sounds on its head that, are they paying you interest?? 
|
Half Pint
Member
Registered: 25th Mar 02
User status: Offline
|
no i work for them.... variable rate set at BOE base rate (currently .5%)
but i have to pay more tax through beneficial loans which will kick in next year... but that is no where near the amount i'd be paying for an open market mortgage.
[Edited on 12-10-2009 by Half Pint]
|
Half Pint
Member
Registered: 25th Mar 02
User status: Offline
|
quote:
Originally posted by M2RTY
dont need a tv licence for a radio
edit my bad thought it used to be for radio too 
[Edited on 12-10-2009 by Half Pint]
|
Cavey
Member
Registered: 11th Nov 02
Location: Derby
User status: Offline
|
I'm on 18k, missus is currently on 12k or so, we're getting a 123k mortgage, over 35yrs, fixed at 4.69% (i think, might be 4.49) for 2 years. Payments of £581 a month.
This is while we settle down job wise, the missus is getting a pay rise every few months, moving up etc, at the moment, so we'll be better off in a year or two when the fixed rate ends.
We were paying £500 in rent, so it's not a massive rise to be owning our own place 
|
MarkM
Member
Registered: 11th Apr 01
Location: Liverpool
User status: Offline
|
Cavey what deposit did you put down?
|
Cavey
Member
Registered: 11th Nov 02
Location: Derby
User status: Offline
|
We've got £10k from parents/relatives.
It's on this homebuy direct scheme, so £123k mortgage, £10k deposit, government/miller pay £57k, £190k house value.
|
Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
|
19k was my salary, on a 70k mortgage.
14 months ago! North FTW!
Lotus Elise 111R
Impreza WRX STi
|
Carl
Member
Registered: 9th May 04
Location: Jimmy Bennett's la la land.
User status: Offline
|
quote:
Originally posted by Kyle T
19k was my salary, on a 70k mortgage.
14 months ago! North FTW!
Was you towing each month? Never thought it would actually be possible to move out on that amount?
|
whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
|
quote:
Originally posted by Colin
Our new place the (currently getting built) mortgage is 120k, payments are 650-ish a month (30yr mort). Were on 45k-ish between us rising to 75k-ish within 12 months.
We'll be paying £500 each a month into the joint account to start with & see how far it goes.
not very far if your mortgage is 650 alone
|
Demo
Member
Registered: 27th Sep 01
Location: south wales Drives: astra sri ecoflex
User status: Offline
|
house is £123k mortgage is £508 over 40 years. gonna remortgage after our 2 year tracker is up and go over a shorter term. 40 years was just to get us started
my income is £24k and hers is £19k so £43k combined
we are putting £500 each into a joint account which should be ample for bills and food etc
|
