Quote:
Originally Posted by entwisi
Spug, National av wage is ~£25K/pa so you can conservatively afford £100K if there is 2 of you
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This is the oft quoted figure, that takes into account the soaring salaries of city fat cats and their million pound bonuses etc.
I've been trying to find out the average wage in Hyndburn. From the jobs I've seen advertised they aren't anywhere near as much twenty five grand a year. Many pay the minimum wage, or are heavily commission weighted salaries, which doesn't really help you raise a hundred grand mortgage.
Happily, through shrewdish moves and some luck, I was mortgage free eleven years after buying my first property. It still doesn't stop me feeling sorry for people trying to get onto the property ladder, or struggling with massive mortgages.