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Mortgage help will release a surge of pent up demand.....
Comments
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A quick look at some online calculators....affordability.
Its just been posted that multiples are outdated....so I've had a look at £25k a year on here without any pension deductions.
It comes out at £1600 a month...
http://www.uktaxcalculators.co.uk/
Lets say you can get 30% of £1600 so that £480 a month.
On here £100,000 at 4% is £528 a month....doesnt seem much different from 3.5 x wage of 25k
We haven't factored in higher interest rates above 4%..
http://www.moneysavingexpert.com/mortgages/mortgage-rate-calculator0 -
A quick look at some online calculators....affordability.
Its just been posted that multiples are outdated....so I've had a look at £25k a year on here without any pension deductions.
It comes out at £1600 a month...
http://www.uktaxcalculators.co.uk/
Lets say you can get 30% of £1600 so that £480 a month.
On here £100,000 at 4% is £528 a month....doesnt seem much different from 3.5 x wage of 25k
We haven't factored in higher interest rates above 4%..
http://www.moneysavingexpert.com/mortgages/mortgage-rate-calculator
Only the top 70% of earners buy houses though - apparently.;)"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »Only the top 70% of earners buy houses though - apparently.;)
and of course would someone on 25K want to buy a house for 100 grand...;)0 -
ONS 2111 shows 70% of people earn more than £14.6 I would have thought in most parts of the country it would be hard to buy on less than £14.6k.
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A friend of mine asked me about this today. He wants to buy but £800pm rent is stopping him saving a deposit. I think he'll be using this scheme when it becomes available.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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ONS 2111 shows 70% of people earn more than £14.6 I would have thought in most parts of the country it would be hard to buy on less than £14.6k.
Full time or part time? Second incomes?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
ONS 2111 shows 70% of people earn more than £14.6 I would have thought in most parts of the country it would be hard to buy on less than £14.6k.
a couple x 2 on that could buy in the North...providing they had a deposit or it went back to say 5%...just a starter.
most of my elderly relatives didnt earn much but did a similar thing...but its hard these days.0 -
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A friend of mine asked me about this today. He wants to buy but £800pm rent is stopping him saving a deposit. I think he'll be using this scheme when it becomes available.
Find somewhere cheaper to rent?
Get rid of/refinance/reduce personal debt, stop taking holidays etc. etc."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Graham_Devon wrote: »Why don't I believe you?
It's available right now...
Why is it such an unbelievable concept that a friend of mine is paying £800 a month rent? Particularly in the south east.
I thought this was the one that was only available in 2014?This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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