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Debate House Prices


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Mortgage:Salary ratio

12346

Comments

  • sjaypink
    sjaypink Posts: 6,740 Forumite
    Cleaver wrote: »
    Oh, and it's gorgonzola and reverse cowgirl for anyone who's interested. Preferably at the same time.
    Can I resist replying to this? :o
    We cannot change anything unless we accept it. Condemnation does not liberate, it oppresses. Carl Jung

  • sjaypink
    sjaypink Posts: 6,740 Forumite
    No. I can't. I really disagree with the gorgonzola :D
    We cannot change anything unless we accept it. Condemnation does not liberate, it oppresses. Carl Jung

  • Ralph4
    Ralph4 Posts: 70 Forumite
    Man on top is best. None of this women in control nonsense...

    I have seen fatal attraction!!! :D
  • sjaypink
    sjaypink Posts: 6,740 Forumite
    Ralph4 wrote: »
    Man on top is best. None of this women in control nonsense...

    I have seen fatal attraction!!! :D
    I haven't....

    ...I think this is an arms post though Ralph :p
    We cannot change anything unless we accept it. Condemnation does not liberate, it oppresses. Carl Jung

  • Ralph4
    Ralph4 Posts: 70 Forumite
    edited 31 January 2010 at 12:51AM
    sjaypink wrote: »
    I haven't....

    ...I think this is an arms post though Ralph :p

    I have posted it over there now. :) However I may be getting my movies confused.
    Perhaps I'm thinking of basic instinct. :cool:
  • Blacksheep1979
    Blacksheep1979 Posts: 4,224 Forumite
    1,000 Posts Combo Breaker
    mitchaa wrote: »
    The thought of pegging out in your 80's and lying undiscovered for months rotting away in your arm chair is the alternative ;)

    Really doesn't bother me - at least you know it's not your kids making the grim discovery...
  • nollag2006
    nollag2006 Posts: 2,638 Forumite
    On our last move, Mrs nollag and I went to 3.25, but paid some of it off and have had a few meagre pay rises since then so are now down to a smidge below 3.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    so after seeing lot's of people's mortgage/salary ratiso we still haven't seen any of those mythical 10 times salary mortgages that were apparently wide spread...
  • Harry_Powell
    Harry_Powell Posts: 2,089 Forumite
    I don't understand the hang up on here about salary multiples. You can have a 1x salary multiple but if you run massive credit card and loan debts you could more at risk of reposession than someone with a 5x salary multiple.

    It's all about affordabilty and lifestyle choice. Some people are 'home birds' who spend a lot of time in their houses and so are happy to invest more of their money to get a larger home/garden. Other people want a more active life with travelling, skiing, nights out. It's entirely upto them whether they choose to spend half their income soley on a mortgage or 25% of their income on a mortgage and 25% travelling/socialising.

    I think salary multiples is a very blunt tool to determine the affordability of a property. A check on someone's long-term disposible income gives a far more accurate picture.
    "I can hear you whisperin', children, so I know you're down there. I can feel myself gettin' awful mad. I'm out of patience, children. I'm coming to find you now." - Harry Powell, Night of the Hunter, 1955.
  • System
    System Posts: 178,371 Community Admin
    10,000 Posts Photogenic Name Dropper
    chucky wrote: »
    so after seeing lot's of people's mortgage/salary ratiso we still haven't seen any of those mythical 10 times salary mortgages that were apparently wide spread...

    It's also interesting people stating how much the multiple has changed after a few years, something that's often overlooked. A high multiple doesn't stay high for long.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
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