How much is your mortgage as a % of earnings or euro

chooey

23% of our joint wages.

Teyla Emmagan

It's about a fifth of my earnings. 9 years and I am mortgage free, yahoo!

Westernyelp

12.5% single mortgage

The_Honeybadger

11% here

mkdon

wait... so only 4 % left?

Geuze

My interest bill is 30 approx pm, 0.5% tracker mortgage.

Repayment is just under 20% of net, where net is Gross less tax, PRSI, USC, pension, PRD, income protection, life cover.

Cows Go µ

16% though I'm saving to do some renovations so put away another 30% on top of that.

SteelyDanJalapeno

Are people using gross or net salary?

Alkers

20% after tax and pension contributions (both maxed) which is manageable

28 years of a 30 year mortgage left, 3% rate

Water John

AFAIK 35% of net income is the considered max desirable by Dept of Finance.

AppleBottle

Will be 16% of net wages based on 35 year term (when we finalise the sale/ start paying the mortgage)

Interested Observer

Looking to buy at the moment, our mortgage will be roughly 25% of net wages. Will probably overpay a bit once we get settled.

ted1

20% of my take home.
No childcare fees, 3 kids and wife is a stay at home mum.
2.8%

An Cigire

25% of take home pay. 32 years left. Just started over pay by 10% as I’m fixed at 3%.

eviltwin

18% of nett, bought the house in 2002.

FaganJr

16% of one salary
Tracker over 35 years
60% paid off with some overpayments

sydthebeat

11% of net.

whomitconcerns

38%... A lot of people on here with very high salaries or very low mortgages

mkdon

agreed i expected circa 30% to be the norm

liquoriceall

Around 19% which is decent enough really doesn't intrude too much on life

cruizer101

whomitconcerns wrote: »

38%... A lot of people on here with very high salaries or very low mortgages

The problem with threads like this are you are more likely to get people who have low amounts posting. People in general like to boast and are less likely to say say if they are higher %, especially after seeing good few with low amounts.

Anonymous poll would be better, but even still people who frequent this forum and are interested in threads like this are probably bit more interested in property market mortgage rates and that and I would reckon likely to be bit more prudent in general with property.

How far into a mortgage is also another factor as in general people gradually earn more and the relative rate goes down.

24% myself, 6 months into mortgage.
In a way could be considered higher as there is some money having to be put into house over time to fix up some things that we wouldn't of had if we spent bit more initially.

RayCun

cruizer101 wrote: »

How far into a mortgage is also another factor as in general people gradually earn more and the relative rate goes down.

Yeah, when we bought, our mortgage was about 20%, but we moved into bare floorboards.
A couple of years later, the house was finished but the first kid arrived and OH stopped working, mortgage was 25-30% of net income.
Now it's back down under 20%, don't even know exactly how much it is...

heroics

23% at the moment. Bought as a couple though

pwurple

21%. 2 kids. 9 years left in it.

It was a much higher percentage a few years ago, we're are not at the beginning of the mortgage on this house. Time passes, we worked hard and got promotions. I won't push it higher than that though. With other bills for the family, that's keeping us on our 50/30/20 ratio. 50% bills, 30% discretionary, 20% savings.

Carlos Orange

whomitconcerns wrote: »

38%... A lot of people on here with very high salaries or very low mortgages

Very few people seem to be mentioning when they got their mortgage. Maybe they have them a while at this stage.

PokeHerKing

12.5% of net pay with LPT taken from gross, 4.5 years into a 30yr mortgage.

As said above I doubt Id be posting if it was 50% of my wage!:D

Bought at the right time in hindsight, pure luck!

Stone Deaf 4evr

17.5% here, 9 years left, both of us working.
house was a self build
however, we're really noticing that stuff is starting to come to the end of its life - washing machine & dryer been replaced this year, dishwasher last year. I'm not looking forward to the fridge, freezer, and oven eventually going t1ts up, plus herself is starting to make rumblings about revamping the kitchen.

Also, we got a lot of furniture that was secondhand - from relatives etc, as we were putting the place together, a lot of that stuff is probably 15 to 20 years old now and really starting to show it too.

sydthebeat

sydthebeat wrote: »

11% of net.

so just to expand, as other posters seem to be doing

definitely dont have anything stupid when it comes to salary.
lucky enough to buy in 2013 when the market was on the floor, a 3 bed semi, and our mortgage is 70% LTV

theteal

SteelyDanJalapeno wrote: »

Are people using gross or net salary?

My quoted amount was from take home pay. Also seeing people are talking about insurance fugures as well, I inadvertently included that in my figure, it gets paid from the same account.

Only 29 years to go!

Edit: as everyone else is expanding on details I’ll give you a UK perspective. House was bought for almost £40k below market rate - I had EAs driven demented talking about the fallout of brexit, it worked! While I wouldn’t call it a fixer, it did and still does need some modernising, we’re chipping away at it. Interest rate is 1.37%, paid ~23% deposit at purchase. It’s a 4 bed semi, 10 minute walk from station, 40 minutes to Liverpool Street - annual ticket £3700. Council tax is just shy of £1800 iirc. So while our mortgage payments are very manageable, we’re certainly not rolling in dough.

Cyrus

Cyrus wrote: »

23 percent for us

to expand its 23% of net, will come down to below 20% when we pay off another chunk in the new year.

24 years left, new build bought in Dec 16