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

25% of my net, with (hopefully less than) 13.5 years to go. Plan is to try and lump sum it as much as I can and get it over and done as soon as possible.

25% of my net, with (hopefully less than) 13.5 years to go. Plan is to try and lump sum it as much as I can and get it over and done as soon as possible.

KingCong

tom1ie wrote: »

33% is manageable, as long as there are no bigger outlays such as childcare which is probably the second biggest outlay nowadays.

Also depends on the salary level, a monthly mortgage of 3300 on a net salary of 10000 and a mortgage of 600 on a net salary of 1800 are both 33%, but obviously the latter would be far more of a struggle as there are a certain amount of (relatively similar) fixed costs that everyone has to pay like groceries, electricity/gas, bins, insurance, possibly childcare etc.

Ciaran_B

22% of my after tax wage. 10.5 years left.

I'm thinking of moving somewhere more lifestyle appropriate in a few years. I'd be mid-40s then so I'm not sure what kind of mortgage I'd get.

Ginger83

tom1ie wrote: »

No. I just pay whatever I can afford to pay at the end of the month from my wife’s and my wages. I try and make a min. Payment of 2x, but if I have extra I’ll pay it. Im 6 years into a 30 year mortgage. The plan is to have it paid off in another 10 to 12 years going by the ccpc mortgage calculators.

Thats impressive, i didn't know you could pay a different figure every month.

Ours is 18%, about 90k/27yrs left.

gmisk

I just looked and 23% of my take home goes to mortgage so it isn't too bad really, had house 4 years almost and done a lot of work.
I was on 3.65% but fixed again recently at 3% so that knocked it down a bit. I haven't considered overpaying tbh but might look into it.

Interested Observer

unhappyBB wrote: »

This has always confused me. Surely paying the mortgage should take priority over small loans?
Maths in my simple mind for a €100 over payment:
100 @ 3% * 30yrs = €90 interest saving
100 @ 9% * 5yrs = €45 interest saving

Also, I don't know how he just went into credit on his mortgage. Mine just looks like a massively negative current account balance. When I lodge extra into it the balance reduces. Interest is then added to it every quarter.

Oh ya: singleton, 28% of net, 1 year into a 35 year but I over pay to 40% when possible

After paying off your 9% loan you then overpay on your mortgage, which you haven't accounted for above.

Klonker

About 23% of net of combined wages, that includes 10% overpay on mortgage. 1 year into a 30 year mortgage and a 3 year fixed rate, when the fixed rate is up in 2 years I plan to pay off a lump of at least 25% of total mortgage.

Baby01032012

Minus 9.5% of gross pay