Fish-Finger-er Posted September 4, 2011 Report Share Posted September 4, 2011 Right, as a few of you know, im lookin at getting my own house. hopefully fairly soon(gotta go in and beg for a mortgage) just curious as to what everyone is paying household bills wise? im hopefully (providing the legal pack doesnt throw up any suprises, and the mortgage applicaion goes through and the offer gets accepted) moving into a 3 bed end of terrace house. will have a brand new central heating system and boiler. just curious as to how much im likely to be paying for electric, gas and water. wont have a gas fire. just rough guidelines really. Quote Link to comment Share on other sites More sharing options...
Pashley26 Posted September 4, 2011 Report Share Posted September 4, 2011 (edited) Our bills suck. Mortgage is £480 Water bill works out at £20 a month +/- Electric works out at £30 a month +/- (we have a boiler, gas hob and A rater windows) Gas bill is £20 a month Council tax varies but ours is £102 a month Obvious TV license @ £25 a month Then you've got general upkeep of the house, for instance we spend probably £40 a month more than we would on household cleaning stuff as well as generally buying the shit you want for your house. Internet varies but ours is £25 Sky, you know you can't live without it. £20 However, it's cheaper than renting and it's all worth it because you're buying it for you not paying somebody elses bloody mortgage! If you can afford the deposit then do it, I can suggest nothing more. Obviously circumstances change but we are with Clydesdale bank and they are brilliant for first time buyers. Edited September 4, 2011 by Pashley26 Quote Link to comment Share on other sites More sharing options...
Fish-Finger-er Posted September 4, 2011 Author Report Share Posted September 4, 2011 Our bills suck. Mortgage is £480 Water bill works out at £20 a month +/- Electric works out at £30 a month +/- (we have a boiler, gas hob and A rater windows) Gas bill is £20 a month Council tax varies but ours is £102 a month Obvious TV license @ £25 a month Then you've got general upkeep of the house, for instance we spend probably £40 a month more than we would on household cleaning stuff as well as generally buying the shit you want for your house. Internet varies but ours is £25 Sky, you know you can't live without it. £20 However, it's cheaper than renting and it's all worth it because you're buying it for you not paying somebody elses bloody mortgage! If you can afford the deposit then do it, I can suggest nothing more. Obviously circumstances change but we are with Clydesdale bank and they are brilliant for first time buyers. yea, ive looked into council tax and the like, but water/gas/electricity, was hoping to get figures on people like me(i.e you), who are young,and dont require heating on the regular. get phone internet and tv free through work, but ive currently got it set up goin to my mums house, and i may feel like a tw*t knicking it off her. Id basically budgeted mortgage + £2500 a year for bills, and was hoping thatd come out about right (so far seems to) Quote Link to comment Share on other sites More sharing options...
JD™ Posted September 4, 2011 Report Share Posted September 4, 2011 For simplicities sake, because I'm on my phone, Jardo is pretty much spot on for a total figure. Mine work out differently individually, and the mortgage is a lot more, but on the whole it sounds about right Quote Link to comment Share on other sites More sharing options...
Scott Gibbs Posted September 4, 2011 Report Share Posted September 4, 2011 Our bills are nuts!! Mortgage £514 Ground rent/ buildings insurance £70 Life insurance £120 (both of us) (will be needed for a mortgage) Council tax £109 Gas £83 (per quarter) Electric £92 (per quarter) Water £109 (6 months) Sky £67 (all channels, broadband & phone) Boiler care £20 Contents insurance £7 All is per month unless stated. I think thats about all obviously you have food shopping but thats all down to budget. Quote Link to comment Share on other sites More sharing options...
Ali C Posted September 4, 2011 Report Share Posted September 4, 2011 these numbers make me happy I rent! Quote Link to comment Share on other sites More sharing options...
Matt Vandart Posted September 4, 2011 Report Share Posted September 4, 2011 My gas is £920 a year, that's heating and hot water. My house is a very old farm house with thick stone walls that are rubbish for insulation and my windows are dog shit, so yours will at least be cheaper than that. Quote Link to comment Share on other sites More sharing options...
Fish-Finger-er Posted September 4, 2011 Author Report Share Posted September 4, 2011 not meaning to be cheeky but how much are all you lot getting mortgages for, im guessing your borrowing around the 100k mark?? also im getting buildings and contents (£30k, havent specified bikes or laptops at this time) for £15 a month. so far ive got as monthly outgoings council tax £64 insurance £15 tv license £12.50 water £25 gas £25 electric £30 which is coming to £175, im then adding £25 eventualities to that. add me mortgage onto that, and its not looking the best, but its doable, currently reckon i have £600 disposable income whilst working a flat month at work. taking that with my mortgage (£285), I should be hovering around the £500 mark. saying the amount I pay in keep at the moment should cover me food bills (£200 a month) can drop my contribution into shares by £80 a month, got a 5% pay rise in october, and a further 3% in january,can knock my gym membership on the head if I need to. ideally ill get a lodger in with me (ill end up with a hike of £60-80 a month in bills, but should be much better off) but just making sure things arent going to hit the pan if i cant. Quote Link to comment Share on other sites More sharing options...
wozz Posted September 4, 2011 Report Share Posted September 4, 2011 (edited) my gas and electric has cost me £65 for the past quarter but thats split between four of us sharing a 5 bed house so its a decent size but we try to use jumpers instead of the heating(means more beer =p)our water is 440 a year. contesnts insurance is 15 a month and so is tv license And rent in total for the house is £795 a month Edited September 4, 2011 by wozz Quote Link to comment Share on other sites More sharing options...
Pashley26 Posted September 4, 2011 Report Share Posted September 4, 2011 (edited) not meaning to be cheeky but how much are all you lot getting mortgages for, im guessing your borrowing around the 100k mark?? You've all read this now so it can be removed. Edited September 5, 2011 by Pashley26 Quote Link to comment Share on other sites More sharing options...
Fish-Finger-er Posted September 4, 2011 Author Report Share Posted September 4, 2011 yea, im putting 30k down, but only borrowing £55000. over 25 years, id be paying £280 at 3.69% fixed for 5 years. im kind of messed up with regards what to do, because in all honesty i could have the thing paid off at the end of them 5 years. I currently own 16000 shares in bt via employee incentive plans. part of me says go with the fixed,because i know, from now till im 28(in reality itll most likely be 29, buy the time this lot is all signed and sealed) i know how much ill be paying per month. but then a tracker mortgage is rather appealing at the moment, what with the low rates, but then if the economy picks up, the interest rate goes up. of course the flip side of this is, if the economy picks up, my shares should do the same, and im never going to end up owing more than i do now, and 16000 x 3 = 48000, which is only 7k short of what im borrowing. Quote Link to comment Share on other sites More sharing options...
monkeyseemonkeydo Posted September 4, 2011 Report Share Posted September 4, 2011 Mortgage about £1150 a month, but actually paying £1300 to overpay a bit. (We kinda missed the 'first rung of the ladder' and went straight for a fairly big 3 bed semi with garage, gardens and stuff). Gas and Electric just increased to £65 a month (Gas central heating and hobs, electric oven). Was £45 a month which seemed like not enough so we'll see how things pan out over winter Council tax £164 a month (for 10 months... is that right?) Water about £13 a month, sewage about £20 a month I think Phone and internet about £25 a month. Quote Link to comment Share on other sites More sharing options...
JD™ Posted September 4, 2011 Report Share Posted September 4, 2011 I can't even remember my percentage rate and such, but my flat was worth about £170k when I bought 4 years ago just pre-crash, bought on fixed and pay £600~ a month, that was with a 10% deposit. As far as I've always been concerned, you choose what you want on what you have an just make the rest work. Every time I've needed to earn more, I just did. I know that doesn't work for most though, who actually want a plan. When I got this place I knew f**k all about the costs involved, just winged it. Quote Link to comment Share on other sites More sharing options...
inzane_2 Posted September 11, 2011 Report Share Posted September 11, 2011 yea, im putting 30k down, but only borrowing £55000. over 25 years, id be paying £280 at 3.69% fixed for 5 years. im kind of messed up with regards what to do, because in all honesty i could have the thing paid off at the end of them 5 years. I currently own 16000 shares in bt via employee incentive plans. part of me says go with the fixed,because i know, from now till im 28(in reality itll most likely be 29, buy the time this lot is all signed and sealed) i know how much ill be paying per month. but then a tracker mortgage is rather appealing at the moment, what with the low rates, but then if the economy picks up, the interest rate goes up. of course the flip side of this is, if the economy picks up, my shares should do the same, and im never going to end up owing more than i do now, and 16000 x 3 = 48000, which is only 7k short of what im borrowing. If I was you I would cut the term down, do a 15 year, you would make less interest payments and when you look to expand your house in a couple of years you will have lots more options because you will own more equity in the house. Mortgage is 423 council tax is 120 elec is 68 gas is 60 water is 32 TV licence is 12 quid or so, but when you get it first they make you pay double for the first 6 months!!!! Everywhere is different though! BT shares paid my deposit too, I was in the sharesave scheme but then the price dropped and just took all the money out of them. Quote Link to comment Share on other sites More sharing options...
Fish-Finger-er Posted September 11, 2011 Author Report Share Posted September 11, 2011 If I was you I would cut the term down, do a 15 year, you would make less interest payments and when you look to expand your house in a couple of years you will have lots more options because you will own more equity in the house. have already looked into this, along with other options, and ive figured 25 or possibly 40 (since i have now started looking at 3/4 bed places, i.e places i wont need to move from) is a more sensible term for the mortgage. as it gives me way more flexibility with my life. Im looking at mortgages, which let you make overpayments of £500 per month. so i can always pay off more if i can afford it, (if work is good, and i have a lodger in, I can make overpayments way past this, but i can just stick that lot in a savings account, which will be paying near enough the same as the apr on my mortgage) but it means if i dont get a lodger, or work goes crap(or even i lost my job) I could still afford to pay the mortgage and bills by going labouring/packing or whatever.(not to mention, the current one ive looked at, if you make overpayments, you are then allowed to make underpayments to the same amount till it balances out if needed). Also means if i have a big unexpected bill come up or the like, I can just stop overpaying for a month or 2. My deposit is already in place too, my shares are staying in share plans atm, just saying that hopefully at the end of the fixed term, whatever is outstanding, will be paid off by whatever i own in shares. Quote Link to comment Share on other sites More sharing options...
Matt Vandart Posted September 11, 2011 Report Share Posted September 11, 2011 You don't have to pay your tv licence, I do personally because I like stuff on the BBC. Quote Link to comment Share on other sites More sharing options...
inzane_2 Posted September 12, 2011 Report Share Posted September 12, 2011 have already looked into this, along with other options, and ive figured 25 or possibly 40 (since i have now started looking at 3/4 bed places, i.e places i wont need to move from) is a more sensible term for the mortgage. as it gives me way more flexibility with my life. Im looking at mortgages, which let you make overpayments of £500 per month. so i can always pay off more if i can afford it, (if work is good, and i have a lodger in, I can make overpayments way past this, but i can just stick that lot in a savings account, which will be paying near enough the same as the apr on my mortgage) but it means if i dont get a lodger, or work goes crap(or even i lost my job) I could still afford to pay the mortgage and bills by going labouring/packing or whatever.(not to mention, the current one ive looked at, if you make overpayments, you are then allowed to make underpayments to the same amount till it balances out if needed). Also means if i have a big unexpected bill come up or the like, I can just stop overpaying for a month or 2. My deposit is already in place too, my shares are staying in share plans atm, just saying that hopefully at the end of the fixed term, whatever is outstanding, will be paid off by whatever i own in shares. If your going to over pay anyway you may as well take it over a shorter time. Then at least you have the option to over pay more. I have also found its not easy to set up overpayments, lol - not that I have tried hard and if I over pay more than 10% my interest rate changes... With bills and mortgage I planned in to start off with about £100ish a month, I found that this was too small for buffer and often found myself with nothing left. Also worth remembering any car payments, once a big bill comes at once its a real blow to the old bank! You have obviously brought the right share plan... they wanted me to buy shares that cost £1.73 for £3 something... what do you do for BT Quote Link to comment Share on other sites More sharing options...
Fish-Finger-er Posted September 12, 2011 Author Report Share Posted September 12, 2011 If your going to over pay anyway you may as well take it over a shorter time. Then at least you have the option to over pay more. I have also found its not easy to set up overpayments, lol - not that I have tried hard and if I over pay more than 10% my interest rate changes... With bills and mortgage I planned in to start off with about £100ish a month, I found that this was too small for buffer and often found myself with nothing left. Also worth remembering any car payments, once a big bill comes at once its a real blow to the old bank! You have obviously brought the right share plan... they wanted me to buy shares that cost £1.73 for £3 something... what do you do for BT mechanic on the fleet side, which hopefully takes the sting out of car issues. I fully intend to overpay, but my main issues is, I cant guarantee that i can afford to overpay,after all bills, id have £700 of basic pay left, which should sort me out fuel, food and another £450 for general living, but im all to aware I will be wanting to do stuff to this house, and itd be all to easy to end up with sod all each month for like 3 months if i wanted a new tv, and a bathroom suite. if i upped my mortgage payments to £500 for a 15 year term, id only have £250, which means something like a new combi boiler could skint me for 6 months!!! Quote Link to comment Share on other sites More sharing options...
inzane_2 Posted September 13, 2011 Report Share Posted September 13, 2011 mechanic on the fleet side, which hopefully takes the sting out of car issues. I fully intend to overpay, but my main issues is, I cant guarantee that i can afford to overpay,after all bills, id have £700 of basic pay left, which should sort me out fuel, food and another £450 for general living, but im all to aware I will be wanting to do stuff to this house, and itd be all to easy to end up with sod all each month for like 3 months if i wanted a new tv, and a bathroom suite. if i upped my mortgage payments to £500 for a 15 year term, id only have £250, which means something like a new combi boiler could skint me for 6 months!!! My mortgage gives me the options for holidays where I can take a break on the mortgage if things go wrong, or need improving. Either way sounds like you'll be fine. Just do a comparison and watch the interest levels you pay in difference, it may give you a good idea which will work best for you! Gd luck, its not easy being a house owner! I spent ages running around fixing leaks when I first moved in to mine!! Quote Link to comment Share on other sites More sharing options...
Matt Vandart Posted September 14, 2011 Report Share Posted September 14, 2011 On the point above about overpayment, I had to pay a early redemption fee on one house I paid off early. It was quite a sum o cash, I think about 6k. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.