£380 a month roughly including bills but then I share with a friend, so that's my half of it.
however we are going to try negotiating rent as our landlord and letting agents are rubbish and refuse to carry out repairs.e.g. there is nothing left to fix the kitchen too any more.
there is no way I could get a mortgage.
£670 a month. Was £1000 a few years ago when it was at a fixed rate. Can cope with some interest rates rises but will have to knock takeaways on the head!
When interest rates dropped, I threw every penny I could at the mortgage - and I mean every single penny. I like my current account to have a x.00 balance so if it was x.01 - I'd do a faster payment straight into my mortgage account for 1p to return it to a tidy x.00.
Then they were extremely stupid when they took out the mortgage.! Mortgage rates have always gone up and down (my first mortgage was 13%), and, when deciding what is affordable, they should have considered what would happen to their finances if the rate was to rise by 2 or 3%. Simple.
Not necessarily, people's circumstances change for the worse sometimes. They may have been able to manage the amount quite comfortably when they took the mortgage out.
The rush to blame people for being in difficult situations on here amazes me sometimes.
Then they were extremely stupid when they took out the mortgage.! Mortgage rates have always gone up and down (my first mortgage was 13%), and, when deciding what is affordable, they should have considered what would happen to their finances if the rate was to rise by 2 or 3%. Simple.
Why only 2% or 3%? Almost anything can happen to interest rates. If people took account of everything that could possibly happen, then no-one would ever take out a mortgage.
(Mine was 12% at one time too, at about the time that Mr Lamont increased base rates to 15% then 20% on the same day! I'd just become self-employed at the time and even the 12% was 90% of the little income I had. Fortunately those rises were cancelled.)
(Edit: checking the details, it seems the actual base rate rises were from 10% to 12%, then further to 15%. The rise to 20% might have been just media speculation. But I'd already ceased to care...)
The first time I rented, I paid about 50% of my wages for a shared room in a hostel (meals provided). Next time was about 25% of gross wages, for a small bedsit in a long-stay hotel. My first mortgage I think was 45% of gross pay, reducing to 30% after a pay rise. That was for a small studio flat.
Last time I rented, it cost around 30% of my income, for a 2-bedroom semi. The maximum I've paid was maybe 90% as I mentioned before, but that was due to my income plunging.
So perhaps a third of gross income is a reasonable amount to pay to rent, or for a new mortgage.
Bloody Nora, £400 a month for just a room, where you live, Buck House ?
Painful
£254 rent per month for a Housing Assoc. one bed flat.
What about this then, Private landlord to pay more than £41,500 for illegal HMO
10 October 2014 | By Laurna Roberts
An Acton landlord has been ordered to pay £41,557 for unlawfully converting a single-family home to accommodate up to 14 people.
Ealing Council enforcement officers discovered that Mr Muhammad Sohaib Anwar of Noel Road, Acton had changed his property to a house of multiple occupation (HMO) without seeking planning permission. The council found he had split the first floor of the family home into sections and changed the layout to create a nine bedroom house.
Tenants were asked to pay up to £400 per month in rent for each room and shared kitchen and bathroom facilities.
Mr Sohaib Anwar was served an enforcement notice to stop using the property as an HMO, remove one of the kitchens and return the property to a single-family home, however he appeared before Ealing Magistrates court where he pleaded guilty to a charge of failing to comply with the enforcement notice for breaching planning permission .
On 29 September, at Isleworth Crown Court, he was given a confiscation order of £31,969 from the benefit of his criminal conduct and sentenced to pay a £2,500 fine and £7,088.95 in costs – bringing the total to £41,557.95.
Julian Bell, council leader, said: ‘Mr Sahaib Anwar was given several chances to comply with planning laws, but instead chose to line his own pockets.’
£365 rent per month, flat sharing with 1 person, that includes my share of the council tax, TV licence and I think broadband also. Electric and gas are on top but we don't use much. This is in Dundee. So how much do people normally earn before they can get their own home? I'm on £18,500 starter salary, that may go up by 3 grand in the near future I hope...I'm told that's still pretty low though. I don't want to buy a place in a horrible area, just somewhere half decent....
Very comforting to read all these people who have paid off their mortgage!
Currently we pay interest only which is about 250 a month but we're shortly moving onto repayments which will be around 700 a month. We'll see how it goes!
Comments
I is free five!:D:D
however we are going to try negotiating rent as our landlord and letting agents are rubbish and refuse to carry out repairs.e.g. there is nothing left to fix the kitchen too any more.
there is no way I could get a mortgage.
Then I sold up and got a bigger (3 bed) detached house and a new mortgage and started all over again. I now pay £800 per month.
When interest rates dropped, I threw every penny I could at the mortgage - and I mean every single penny. I like my current account to have a x.00 balance so if it was x.01 - I'd do a faster payment straight into my mortgage account for 1p to return it to a tidy x.00.
Not necessarily, people's circumstances change for the worse sometimes. They may have been able to manage the amount quite comfortably when they took the mortgage out.
The rush to blame people for being in difficult situations on here amazes me sometimes.
Why only 2% or 3%? Almost anything can happen to interest rates. If people took account of everything that could possibly happen, then no-one would ever take out a mortgage.
(Mine was 12% at one time too, at about the time that Mr Lamont increased base rates to 15% then 20% on the same day! I'd just become self-employed at the time and even the 12% was 90% of the little income I had. Fortunately those rises were cancelled.)
(Edit: checking the details, it seems the actual base rate rises were from 10% to 12%, then further to 15%. The rise to 20% might have been just media speculation. But I'd already ceased to care...)
Bloody Nora, £400 a month for just a room, where you live, Buck House ?
Painful
£254 rent per month for a Housing Assoc. one bed flat.
Ha, unfortunately not
£50 bills on top, but I escape council tax for now being a student
Admittedly £400pcm for a room isn't cheap round here, but the cheapest room I've ever seen is £285 per month but it was a box room in a total dump.
My rent at least beats the £450pcm I was paying for a studio flat last year ;-)
Last time I rented, it cost around 30% of my income, for a 2-bedroom semi. The maximum I've paid was maybe 90% as I mentioned before, but that was due to my income plunging.
So perhaps a third of gross income is a reasonable amount to pay to rent, or for a new mortgage.
What about this then, Private landlord to pay more than £41,500 for illegal HMO
10 October 2014 | By Laurna Roberts
An Acton landlord has been ordered to pay £41,557 for unlawfully converting a single-family home to accommodate up to 14 people.
Ealing Council enforcement officers discovered that Mr Muhammad Sohaib Anwar of Noel Road, Acton had changed his property to a house of multiple occupation (HMO) without seeking planning permission. The council found he had split the first floor of the family home into sections and changed the layout to create a nine bedroom house.
Tenants were asked to pay up to £400 per month in rent for each room and shared kitchen and bathroom facilities.
Mr Sohaib Anwar was served an enforcement notice to stop using the property as an HMO, remove one of the kitchens and return the property to a single-family home, however he appeared before Ealing Magistrates court where he pleaded guilty to a charge of failing to comply with the enforcement notice for breaching planning permission .
On 29 September, at Isleworth Crown Court, he was given a confiscation order of £31,969 from the benefit of his criminal conduct and sentenced to pay a £2,500 fine and £7,088.95 in costs – bringing the total to £41,557.95.
Julian Bell, council leader, said: ‘Mr Sahaib Anwar was given several chances to comply with planning laws, but instead chose to line his own pockets.’
Real wages have gone down for years and a lot of people changed jobs in the recession.
Currently we pay interest only which is about 250 a month but we're shortly moving onto repayments which will be around 700 a month. We'll see how it goes!