Average FTB debt is apparently 121,000

w00519772

I read the following article today: http://www.thisismoney.co.uk/money/mortgageshome/article-2562885/Typical-time-buyer-spends-seven-years-renting-cost-42k.html.

It says the average first time buyer has a 121,000 mortgage with a 30,000 deposit (meaning the house is worth 150K). What it doesn't say is whether this is:

1) Mortgage per borrower or household. A household could have two people with a join mortgage.
2) Whether this is London/outside London or both

I am interested to hear peoples thoughts on this.

kingstreet

I don't want to seem unkind, but what are you doing with this data?

You have started 75 new threads on M&E and HBR&S since the beginning of the year and much of it seems more like research for non-house purchase reasons.

If you are undertaking an academic work, or something similar, that's fine but you often post questions then take no further part in the thread.

Thrugelmir

w00519772 wrote: »

I am interested to hear peoples thoughts on this.

It's an average. So what.

w00519772

kingstreet wrote: »

I don't want to seem unkind, but what are you doing with this data?

You have started 75 new threads on M&E and HBR&S since the beginning of the year and much of it seems more like research for non-house purchase reasons.

If you are undertaking an academic work, or something similar, that's fine but you often post questions then take no further part in the thread.

i am a first time buyer and i am buying a house. I have lived with my parents for a while now paying 150 per month for board and lodge. Therefore i am a bit naieve and want to make sure that i am not taking on too much and hence a lot of questions. I had an offer accepted earlier in the year but the vendor pulled out because his seller pulled out. I am now four weeks into my second purchase.

i have to say that i have been monitoring the forum for a few years and there were a lot of people like me who asked a lot of questions.

i am a big contributor to a computer science forum. I plan to also contribute more to this forum in future helping others.

i am not doing any research.

Funny_old_game

w00519772 wrote: »

i am a first time buyer and i am buying a house. I have lived with my parents for a while now paying 150 per month for board and lodge. Therefore i am a bit naieve and want to make sure that i am not taking on too much and hence a lot of questions. I had an offer accepted earlier in the year but the vendor pulled out because his seller pulled out. I am now four weeks into my second purchase.

i have to say that i have been monitoring the forum for a few years and there were a lot of people like me who asked a lot of questions.

i am a big contributor to a computer science forum. I plan to also contribute more to this forum in future helping others.

i am not doing any research.

Did Cambridge Utd or Gateshead win the play-off?

ReformedShopper

I'm afraid £121K FTB mortgage debt in London is a laughable idea, unless you're looking on the outskirts, or have a massive deposit, or are using one of the government help to buy/ shared ownership schemes. London prices have seriously spiralled out of control!

Thrugelmir

w00519772 wrote: »

Therefore i am a bit naieve and want to make sure that i am not taking on too much and hence a lot of questions.

75 threads though. You won't get answers by statements.