FISO News   Admin's Spanish Holiday Apartment Rental Offer     FISO News   Rooney, Balotelli, Torres, RVP   


Post new topic Reply to topic  [ 35 posts ]  Go to page 1, 2  Next
Author Message
 Post subject: What percentage of your dosh goes on your mortgage?
PostPosted: 13 Dec 2011, 22:26 
Offline
FISO Jedi Knight
User avatar

Joined: Thu Oct 13 2005
Posts: 26246
Location: Cherishing the Ox!
Household income for take home pay

Mine is about 10%

Is that about average? I think it's pretty low?


Top
 Profile  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 13 Dec 2011, 22:35 
Offline
Fiso Knight Templar
User avatar

Joined: Thu Oct 13 2005
Posts: 11948
Location: Bonnie Galloway
FS Record: Too many to mention now :-)
I have a remaining mortgage of £1 :D


Top
 Profile WWW FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 13 Dec 2011, 22:36 
Offline
FISO Jedi Knight
User avatar

Joined: Thu Oct 13 2005
Posts: 26246
Location: Cherishing the Ox!
Smart arses aside :wink:


Top
 Profile  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 13 Dec 2011, 22:37 
Offline
FISO Fish
User avatar

Joined: Sun Jul 23 2006
Posts: 13369
Location: West Midlands.
FS Record: Under Ordinary
pa102aw wrote:

I have a remaining mortgage of £1 :D



You just wait until the interest rates go up again.


Top
 Profile FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 13 Dec 2011, 22:40 
Offline
Dunkledore
User avatar

Joined: Thu Jul 26 2007
Posts: 6943
Location: South West England.
FS Record: Pick Quick Winner 2010-11..........£420 total in winnings from mini cash leagues over the years
Ours is probably 20-25% off the top of my head.


Top
 Profile FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 13 Dec 2011, 22:42 
Offline
Grumpy Old Man
User avatar

Joined: Sat Aug 02 2008
Posts: 3386
Location: Yorkshire
FS Record: FPL 9 Ball Champ, Incidental and murfs Knockout Cups Winner
Has this thread been set up so that you can tell everyone that you have plenty of money and don't have to worry about your mortgage?

Classy.


Top
 Profile FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 13 Dec 2011, 22:44 
Offline
FISO Jedi Knight
User avatar

Joined: Thu Oct 13 2005
Posts: 26246
Location: Cherishing the Ox!
Richt wrote:
Ours is probably 20-25% off the top of my head.


That's what I thought would be average.

Googled it and one source said it's now about 10% while others differ - I always thought a quarter to a third was usual......


Top
 Profile  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 13 Dec 2011, 22:48 
Offline
FISO Comedy Knight
User avatar

Joined: Thu Oct 13 2005
Posts: 14256
Location: Living strong
FS Record: FISODAS Champion Season 11 & 16; OFL Golf 4th 09; TFG OFL Overall, Majors, F1oG Winner 09
Mine's c.25% currently (on a capital & interest basis, and not including the benefit from offset). Several years ago when first on the ladder it was significantly higher.

I sincerely doubt it is 10% on average.


Top
 Profile FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 13 Dec 2011, 22:48 
Offline
FISO Baron
User avatar

Joined: Thu Oct 13 2005
Posts: 61622
Location: Chilling in a Fantasy Football free world
Blog: View Blog (9)
FS Record: Good at something
I'm paying about a third but I haven't decreased it for low interest rates. Could pay less than 10%.


Top
 Profile WWW FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 13 Dec 2011, 23:14 
Offline
FISO Knight
User avatar

Joined: Thu Oct 13 2005
Posts: 13414
Location: Location! Location!
Blog: View Blog (2)
FS Record: TFFOSM MotW in 2008 and MotM in 2003. 78th overall in TFFO for 2002/3 and 2003/4
About 20%


Top
 Profile FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 13 Dec 2011, 23:18 
Online
FISO Knight
User avatar

Joined: Thu Oct 13 2005
Posts: 11569
Richt wrote:
Ours is probably 20-25% off the top of my head.


Similar, overpaying by £200+ a month for the last 2 years


Top
 Profile WWW  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 13 Dec 2011, 23:19 
Offline
Fiso Knight Templar
User avatar

Joined: Thu Oct 13 2005
Posts: 11948
Location: Bonnie Galloway
FS Record: Too many to mention now :-)
Groomyd wrote:
Smart arses aside :wink:

The benefit of being a Baby Boomer :D

I bought my first house in 1972 for £1800. (I was earning about £28 a week then) :|


Last edited by pa102aw on 13 Dec 2011, 23:40, edited 2 times in total.

Top
 Profile WWW FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 13 Dec 2011, 23:22 
Online
Dumbledore
User avatar

Joined: Mon Dec 05 2005
Posts: 6483
Location: MTA (Mid Table Anonymity)
FS Record: Ultra ultra consistent (see above)
It will differ widely and it will be almost impossible to draw any useful info from it.

If you bought your house 20 years ago on a 25 year mortgage the size of the mortgage will be small due to the housing market in 1990 and wage inflation will mean salaries have moved on massively.

If you bought your house last year as a first time buyer then you are probably looking at 33-40%.

Besides if you are paying 50% of your net salary away and take home £125k a year - things are not too close to the bone - whereas someone earning £20k paying away 40% is going to be counting every penny.

I would say 10% of take home pay is very low.


Top
 Profile FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 13 Dec 2011, 23:23 
Offline
FISO Knight
User avatar

Joined: Mon Jul 21 2008
Posts: 10440
Location: Stroud
FS Record: SDT including weekly, monthly and seasonal prizes. Fantasy Darts daily winner and TFFO mini league winner.
Mine is 34.6%.


Top
 Profile WWW FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 14 Dec 2011, 09:12 
Offline
FISO Jedi Knight
User avatar

Joined: Thu Oct 13 2005
Posts: 26246
Location: Cherishing the Ox!
Knulpuk wrote:
It will differ widely and it will be almost impossible to draw any useful info from it.

.


It's a very common financial and social comparator.

The variation being more instructive than the mean. Athough it is often used to compare countries too as averages.


Last edited by Groomyd on 14 Dec 2011, 09:20, edited 1 time in total.

Top
 Profile  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 14 Dec 2011, 09:18 
Offline
Grumpy Old Man

Joined: Sun Apr 03 2011
Posts: 2549
Groomyd wrote:
Household income for take home pay

Mine is about 10%

Is that about average? I think it's pretty low?

Image



Image


Top
 Profile  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 14 Dec 2011, 10:07 
Online
Dumbledore
User avatar

Joined: Mon Dec 05 2005
Posts: 6483
Location: MTA (Mid Table Anonymity)
FS Record: Ultra ultra consistent (see above)
Groomyd wrote:
Knulpuk wrote:
It will differ widely and it will be almost impossible to draw any useful info from it.

.


It's a very common financial and social comparator.

The variation being more instructive than the mean. Athough it is often used to compare countries too as averages.


Well if you are getting something from it good for you - but comparing countries will not tell you much - in France / Netherlands / Germany home ownership % are quite different to the UK.


Top
 Profile FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 14 Dec 2011, 13:48 
Offline
Dumbledore
User avatar

Joined: Thu Oct 13 2005
Posts: 7594
Location: Surrey
pa102aw wrote:
I have a remaining mortgage of £1 :D


Same here

Although I can admit that my first monthly payment on the Mortgage was at a rate of

15.4 % :!: :!: :!:


Top
 Profile  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 14 Dec 2011, 13:57 
Offline
FISO Jedi Knight
User avatar

Joined: Thu Oct 13 2005
Posts: 26246
Location: Cherishing the Ox!
Knulpuk wrote:
Well if you are getting something from it good for you - but comparing countries will not tell you much - in France / Netherlands / Germany home ownership % are quite different to the UK.


Oh contraire. It tells us much.

One would compare expenditure on accommodation be it rental or home ownership. Of course there will be ourtliers but as with any distribution a mean and clustering aroudn the mean is instructive for a number of reasons. As i say its a common financial and social comparitor.

Themean gives an indicator of the cost of living in any society and the degree of disposable income. The spread gives an indicator of social hierarchy.

On a message board its just for a bit of chat an' ting :wink:

Why do you guys with £1 outstanding have that? Is it for tax purposes or someting like that?


Top
 Profile  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 14 Dec 2011, 14:15 
Online
Dumbledore
User avatar

Joined: Mon Dec 05 2005
Posts: 6483
Location: MTA (Mid Table Anonymity)
FS Record: Ultra ultra consistent (see above)
It's to avoid paying fees for keeping your deeds etc safe at a solicitors or the like and or the avoidance of what can be quite steep early admin (£200-£300) redemption fees.

re deeds you could just keep them in the draw - that's we we do - we figured if the house burned down that would be the least of our concerns.

That reads like we have no mortgage - but we do - for some reason they sent us the deeds!


Last edited by Knulpuk on 14 Dec 2011, 15:39, edited 1 time in total.

Top
 Profile FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 14 Dec 2011, 14:27 
Offline
FISO Jedi Knight
User avatar

Joined: Thu Oct 13 2005
Posts: 26246
Location: Cherishing the Ox!
Who has the deeds now? The bank? :?

How do you avoid paying off that last quid?


Top
 Profile  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 14 Dec 2011, 14:30 
Online
Dumbledore
User avatar

Joined: Mon Dec 05 2005
Posts: 6483
Location: MTA (Mid Table Anonymity)
FS Record: Ultra ultra consistent (see above)
Groomyd wrote:
Who has the deeds now? The bank? :?

How do you avoid paying off that last quid?


Whoever has the charge has the deeds - 99% of the mortgage co. You will get them back when they release their charge.


Top
 Profile FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 14 Dec 2011, 14:41 
Offline
Grumpy Old Man
User avatar

Joined: Thu Oct 13 2005
Posts: 2672
0%. but I still have to pay owners tax, habitation tax and worst of all maintenance costs. Housing costs last forever, unfortunately. :lol:


Top
 Profile  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 14 Dec 2011, 14:55 
Offline
FISO Jedi Knight
User avatar

Joined: Thu Oct 13 2005
Posts: 26246
Location: Cherishing the Ox!
What is owners and habitation tax? :?

Should i know these things? :shock:


Top
 Profile  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 14 Dec 2011, 14:55 
Offline
FISO Baron
User avatar

Joined: Thu Oct 13 2005
Posts: 61622
Location: Chilling in a Fantasy Football free world
Blog: View Blog (9)
FS Record: Good at something
Groomyd wrote:
What is owners and habitation tax? :?

Should i know these things? :shock:


Non monsieur


Top
 Profile WWW FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 14 Dec 2011, 15:22 
Offline
Grumpy Old Man
User avatar

Joined: Wed Sep 01 2010
Posts: 2816
Location: Amsterdam
Groomyd wrote:
What is owners and habitation tax? :?

Should i know these things? :shock:


As has already been mentioned, which you decided to reject
Quote:
but comparing countries will not tell you much


Top
 Profile FPL Team Page  
 
 Post subject: Outgoings
PostPosted: 14 Dec 2011, 15:47 
Offline
The Old Man
User avatar

Joined: Thu Oct 13 2005
Posts: 6353
Location: Pine Cottage
This seems a simplistic question. Surely accommodation costs should include other outgoings?

For example, even though the house mortgage was paid off soon after I retired in 2002, council tax has increased to more than £250 each month. That's a good chunk of the pension (for readers who aren't familiar with UK system this is the local regional or community rate). And some of those who rent privately don't pay council tax because the landlord does.


Top
 Profile  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 14 Dec 2011, 15:55 
Offline
FISO Knight
User avatar

Joined: Thu Oct 13 2005
Posts: 13414
Location: Location! Location!
Blog: View Blog (2)
FS Record: TFFOSM MotW in 2008 and MotM in 2003. 78th overall in TFFO for 2002/3 and 2003/4
Groomyd wrote:
What is owners and habitation tax? :?

Should i know these things? :shock:



We have those in Netherlands too. They claim tax from you as the owner and then tax you again for living there.


Top
 Profile FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 14 Dec 2011, 16:02 
Offline
Grumpy Old Man
User avatar

Joined: Wed Sep 01 2010
Posts: 2816
Location: Amsterdam
Surprised wrote:
Groomyd wrote:
What is owners and habitation tax? :?

Should i know these things? :shock:



We have those in Netherlands too. They claim tax from you as the owner and then tax you again for living there.


But it's also compulsory for every person living in the Netherlands to do a self assessment tax return. This tax is offset against earnings.


Top
 Profile FPL Team Page  
 
 Post subject: Re: What percentage of your dosh goes on your mortgage?
PostPosted: 14 Dec 2011, 16:03 
Offline
Fiso Knight Templar
User avatar

Joined: Thu Oct 13 2005
Posts: 11948
Location: Bonnie Galloway
FS Record: Too many to mention now :-)
A wise old man once told me that 33% of your salary should go on housing costs and utility bills, and he got it about right.


Top
 Profile WWW FPL Team Page  
 
Display posts from previous:  Sort by  
Bookmark and Share
Post new topic Reply to topic  [ 35 posts ]  Go to page 1, 2  Next

All times are UTC [ DST ]


Who is online

Users browsing this forum: No registered users and 0 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to: