Comment on First-time buyers spending 40% of pay on mortgages
wren@feddit.uk 1 month ago
My first thought was that 40% was low… but I suppose I’ve never been a first time buyer, so they probably have higher salaries than I do
Comment on First-time buyers spending 40% of pay on mortgages
wren@feddit.uk 1 month ago
My first thought was that 40% was low… but I suppose I’ve never been a first time buyer, so they probably have higher salaries than I do
1rre@discuss.tchncs.de 1 month ago
Yeah either you live in London so are paying at a minimum 1600/month or 20k/year for a 350k mortgage, or if you live in the north or less desirable parts of the south you’re gonna be paying 750/month or 9000/year for a 175k mortgage, either way if that’s 40%, once you consider bills, heating, food, transport (because no way can you afford to live within walking distance of work as a first time buyer) and whatever else you frankly don’t have a whole load left all in