£92,000 joint income. No mortgages!

PasturesNew

£2300 and £3200 per month coming in. £5500. Every month.
Bills etc £2k.

That's £3,500 being spunked up the wall somewhere ..... £100 every day! EVERY day!

Take £500/month each for "spends", leaving £2,500 to go into savings. One year = £30k.

poppy10_2

Rothschild wrote: »

Most people who posted replies in this thread are simply thickos who just don't have a clue how much it actually costs to live here in London!

When you go out clubbing or to a bar you pay £50+ entry cost, then £6-£10 per bottle of beer/alcopop, £60-£100 per person for a meal in a decent restaraunt, if you have a speed boat the mooring alone on the thames costs us £250+ per month, you wont even be able to get a fcking subway sandwhich/macdonalds for lunch for under £5 !!!!!!!!

You can go for a year without clubbing, buying £10/drink alcopops, or going for £100 reastaurant meals if it is important enough to you. It's a question of prioritization. If you'd rather go clubbing and riding your speedboat (:huh:) then that's your choice, you can't have everything you want in life.

McDonalds/Subway cost the same in London as they do oop North, you know.

diable

Rothschild wrote: »

Hi mate i understand what your going through.

I only earn 54k per year, .

I live in Kensington (great value parking permit for your social life) and pay £380 pm for my flat so you are being ripped off, drinks may be expensive but its the quality social interaction you pay for an the great sex. It seems to me you are are an outsider and don't know the ins and outs and £100 meals means you must be skimping on nights out or not drinking when dining.

If you need any advice on going out in Kensington then give me a shout.

property.advert

£37k = 27.5k net
£55k plus 8k net bonus = 13.5k gross = £68.5k = 46.7k net

http://listentotaxman.com/index.php

Net income = 46.7k+27.5k=74.2k. Expenses = 24k

So if you are being honest, you can save £50,000 a year with no hardship. In 18 months you have 75k which is 25% of 300k which gives you almost every good mortgage rate available.

Where is the problem ?

opinions4u

Rothschild wrote: »

I only earn 54k per year, and even though due to my job im able to offset and avoid paying a huge % of my tax,
and paying rent of £1,650 per month for a 1bedroom flat in London (so not especially expensive),
id also struggle to saveup 1/3 of my year salary!


Most people who posted replies in this thread are simply thickos who just don't have a clue how much it actually costs to live here in London! (I live in Kensington so know exactly what im talking about with the cost of living here)

When you go out clubbing or to a bar you pay £50+ entry cost, then £6-£10 per bottle of beer/alcopop, £60-£100 per person for a meal in a decent restaraunt, if you have a speed boat the mooring alone on the thames costs us £250+ per month, you wont even be able to get a fcking subway sandwhich/macdonalds for lunch for under £5 !!!!!!!!


So being able to save up nearly 1/2 of your after-tax income, while still having to pay all standard living costs is a huge challenge!



Id suggest you just using mortage comparison sites to find a mortage, instead of face-to-face highstreet banks.

There are dozens of lenders who will lend £250-300k at 95% mortage on there, although the best rate you will be able to get will be a fixed-term rate of roughly 4.5-6% apr.

Well done Mr Troll.

Possibly one of the best trolling efforts this week.

Doom_and_Gloom

You and your partner earn an amount a lot of us can only dream of (London pay or not!). My partner doesn't earn 1/10 of what you two do gross per year! However even we are going to be saving money out of what we get (his wage and my DLA) - not a lot but saving.

You two could easily save 20k a year without it even impacting your lifestyle :eek:. This means you could save 40k in two years which is over a 10% deposit on a 300K place. As it is why don't you let it impact your lifestyle so you can save more and faster so you can get out of renting faster and get to owning your own house faster? You could save a 10% deposit in 1 year easily if you make a few changes or 20% in 2 years (remember the more deposit you save the better)! I can bet you waste a lot of money on food that you don't eat and so bin - a lot of house holds bin 1/3 of their food shopping. By not letting this happen you can save quite a bit of money.

It just seems that you and your partner are not thinking maturely with regards to money. You can keep living the way you do and moan about banks not giving you the option of a small deposit when you earn a lot. However you could grow up and realise that with the amount you earn a small deposit isn't what you should be aiming for!

beecher2

If this week's £26,000 payrise is real, and not a fiction, then saving this amount of money over the next year won't even impact on the OP's lifestyle.

g_attrill

Firstly your rent is only £1,300, and rent/mortgage is the main expensive point about living in London, the rest is optional luxuries that people are able to do more of in the area (eg. eating out, bars, entertainment etc).

As mentioned the best thing is to work out an SOA (statement of affairs) to figure out where your money is going, then as suggested say "we are going to save (say) half our take-home pay and adjust our lifestyle to live on the rest". I suspect you are blowing a lot of money on things that most of us here would think are luxuries that could easily be cut out for a few years.

If you can't bear to make a few sacrifices on luxuries to save for a year or two then I think you will have lifelong money problems, no matter how much you earn.

_Andy_

Some awesome trolling going on!

ItMightBeUsefulOneDay

Take the 26k bonus down to the bookies and shove it on the nags. When they romp home you'll be able to buy several houses outright. Pick the long shots right and you'll have enough left over to buy the Enzo you truly deserve rather than just a porche that you took on tick.

Or get daddy to gift you a nice £30k tax deductible birthday present and use that to get your dream £300k flat. That way house buying doesn't have to impede on your lifestyle.