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GreatAlbatross@feddit.ukM to United Kingdom@feddit.ukEnglish · 1 year ago

First-time buyers spending 40% of pay on mortgages

www.bbc.co.uk

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First-time buyers spending 40% of pay on mortgages

www.bbc.co.uk

GreatAlbatross@feddit.ukM to United Kingdom@feddit.ukEnglish · 1 year ago
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The Nationwide says first-time buyers are spending more take-home pay on mortgage repayments.
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  • breadsmasher@lemmy.world
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    1 year ago

    Yes. house prices are insane.

    Banks and landlords: “Pay went up? Awesome, prices and rent going up”

    • glimse@lemmy.world
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      1 year ago

      Pay went up by 5%? Awesome, prices and rent going up by 25%

      • Omgpwnies@lemmy.world
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        1 year ago

        Pay went down? Rent still go up

    • fishpen0@lemmy.world
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      1 year ago

      deleted by creator

  • wren@feddit.uk
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    1 year 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
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      1 year 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 tax, 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
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    1 year ago

    Brit in the USA here. We are at 42% (Los Angeles, ca). Shits wild

  • moistclump@lemmy.world
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    1 year 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.

  • 10_0@lemmy.ml
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    9 months ago

    deleted by creator

  • Baggins [he/him]@lemmy.ca
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    1 year ago

    deleted by creator

  • feedum_sneedson@lemmy.world
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    1 year ago

    Shall I just kill myself, then?

    • ᴇᴍᴘᴇʀᴏʀ 帝@feddit.uk
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      1 year ago

      No, kill everyone between you and the Throne.

    • Isoprenoid@programming.dev
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      1 year ago

      The only winning move is to not play. /s

  • tal@lemmy.today
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    1 year ago

    deleted by creator

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