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02 October 2009

How much out of myself and partner's combined salary of Net £3000 per month should go towards paying a Mortgage?

We are fortunate enough to have parents who are willing to remortgage their house for capital gain, to enable us to build our own house. My partner and i have a combined Net salary of £3000 per month. No debt, credit cards or overdraft. We're borrowing £130,000 ona 14 year mortgage at a cost of around £850 to £950 a month, depending on which mortgage we take out. Are we going to be paying too much on our mortgage per month? What is the average percentage people pay on their mortgage per month? Any suggestions would be gratefully appreciated.

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