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Debate House Prices
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Mortgage:Salary ratio
Comments
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HAMISH_MCTAVISH wrote: »And I'm fairly sure the possibility of inheriting the Ferrari would be enough incentive to keep us in cups of tea and Xmas invites for life.:rotfl:
It will be your £2bn house they want - that's how much it'll be worth in 40 years right???0 -
3.75x here, only bought last year though (single person).0
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Mine is a ratio of 2.6 It must have been closer to 3.5 4/5 years ago.0
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Pythagorous wrote: »For me I currently have a mortgage of 2.1 times salary (joint with wifey) and I'm considering extending this to 3.5.
We have just changed from about 2 to about 3.5. We made a conscious decision to move to a bigger & nicer house, with the increase mortgage cost being offset by changing the car a lot less frequently and holiday choice.
After all you do spend the majority of your time in the house, so it might as well be a nice one!Today is the first day of the rest of your life0 -
Bean_Counter wrote: »We have just changed from about 2 to about 3.5. We made a conscious decision to move to a bigger & nicer house, with the increase mortgage cost being offset by changing the car a lot less frequently and holiday choice.
After all you do spend the majority of your time in the house, so it might as well be a nice one!
You make a great point BC. Sometimes I think I can be too careful and prudent with my finances when in fact I should be enjoying my money a bit more!0 -
3.75x here, only bought last year though (single person).
It's very interesting that there are many on here reflecting their mortgage is less than 4 x multiplier, even for those who recently bought as a single income.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
0.28x :cool:
1.5x Including the house we rent out :cool:
It started on a single salary at about 2.5x, has been as high as 4.2x on a joint salary.
:cool:
:cool:0 -
It was 4.3x joint when we first bought.
Outstanding balance is now pretty much spot on 2x joint.
Mortgage payment each month is 20% of joint take home.0 -
Currently the mortgage multiple for us is 2.93. However, this is intended to be our first and last mortgage!Self confessed nerd when it comes to anything financial and/or numerical! :cool:0
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IveSeenTheLight wrote: »It's very interesting that there are many on here reflecting their mortgage is less than 4 x multiplier, even for those who recently bought as a single income.
I earn well less than the average wage. My house has three bedrooms.0
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