.....thinking of buying a house - worked out that my mortgage payments will be about 40% of my current take home pay. I think this is a lot - however, I don't know if this is normal. Somebody I spoke to at work reckons all of his take home pay goes on paying the mortgage and he and his wife live of her earnings to pay for everything else (food, bills, holidays etc.). That to me sounds a terrible situation to be in, but each to their own.
What ratio do other people pay?
I suppose over time, the ratio will fall, assuming you don't extend your
mortgage and your salary goes up by at least the amount of inflation.
- posted 13 years ago