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Mortage & percentage of salary

  • 23-03-2011 2:35pm
    #1
    Enigma IE
    Registered Users, Registered Users 2 Posts: 1,158 ✭✭✭


    I'm coming off interest only mortgage in September, a quick calculation based on current rates from my lender, 57% of my NET salary will be paying my mortgage per month from September onwards.

    Just wondering percentage wise, no actual figures, how much people are paying? Thanks.

    What percentage of your total salary do you pay in your mortgage? 32 votes

    0-19%
    0% 0 votes
    20%-39%
    15% 5 votes
    40%-59%
    53% 17 votes
    60%-80%
    25% 8 votes
    80%+
    6% 2 votes


Comments

  • #2
    NIMAN
    Registered Users, Registered Users 2 Posts: 34,681 ✭✭✭✭NIMAN


    Roughly 21-22% (using gross salaries).


  • #3
    Pablo Sanchez
    Closed Accounts Posts: 1,207 ✭✭✭Pablo Sanchez


    I would imagine that using your net salary would be a far more indicitive of the affordability of your mortgage payment.


  • #4
    Enigma IE
    Registered Users, Registered Users 2 Posts: 1,158 ✭✭✭Enigma IE


    Pablo Sanchez wrote: »
    I would imagine that using your net salary would be a far more indicitive of the affordability of your mortgage payment.

    Absolutely. My calculation is based on net salary. I've updated my original post just to clarify anyway.


  • #5
    soundsham
    Registered Users, Registered Users 2 Posts: 3,848 ✭✭✭soundsham


    29% of net wage


  • #6
    Cookie_Monster
    Registered Users, Registered Users 2 Posts: 24,537 ✭✭✭✭Cookie_Monster


    my rent, not mortgage is 23%
    the car costs a fair bit more :D


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  • #7
    NIMAN
    Registered Users, Registered Users 2 Posts: 34,681 ✭✭✭✭NIMAN


    Using net salaries it rises to 30%. That's for 2 properties btw.


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