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
First-time buyers spending 40% of pay on mortgages
Submitted 3 months ago by GreatAlbatross@feddit.uk to unitedkingdom@feddit.uk
https://www.bbc.co.uk/news/articles/cxe2842xr62o
Comments
wren@feddit.uk 3 months ago
1rre@discuss.tchncs.de 3 months 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
Vaginal_blood_fart@feddit.uk 3 months ago
Brit in the USA here. We are at 42% (Los Angeles, ca). Shits wild
moistclump@lemmy.world 3 months ago
In Canada we’re supposed to be limited to 42% going to housing costs and that’s how they determine how much mortgage they’ll approve. I think most people are hitting that mark if not finding ways of going over.
feedum_sneedson@lemmy.world 3 months ago
Shall I just kill myself, then?
Emperor@feddit.uk 3 months ago
No, kill everyone between you and the Throne.
Isoprenoid@programming.dev 3 months ago
The only winning move is to not play. /s
10_0@lemmy.ml 3 months ago
.
breadsmasher@lemmy.world 3 months ago
Yes. house prices are insane.
glimse@lemmy.world 3 months ago
Pay went up by 5%? Awesome, prices and rent going up by 25%
Omgpwnies@lemmy.world 3 months ago
Pay went down? Rent still go up