Life is so unfair!

mumps

cbsexec wrote: »

Also in 1973 it was hard to get a mortgage which took into account both salaries if you were married. It was still assumed you would give up work if you had children and were female. Cant remember exactly the maths but a womens wage counted for less.

I think we got 3 times husbands salary and 1 x my salary. I don't know if that was standard, our building society seemed to have a very paternalistic attitude.

mgdavid

mumps wrote: »

I think we got 3 times husbands salary and 1 x my salary. I don't know if that was standard, our building society seemed to have a very paternalistic attitude.

yes that was common; some gave 3.5 x male and 1 x female salaries. A little later ISTR an option of 2 x joint income was introduced.

Goldiegirl

When I started working at a big lender in 1981 the lending multiple was 3.25 x the higher salary, and 1 x the lower. But the sex of the person earning the higher salary wasn't specified.

A bit later on they started doing 2 x joint income. This reflected the changing times - if a couple earned a similar salary 2x joint was much better than 3.25 x plus 1

Oblivion

Goldiegirl wrote: »

When I started working at a big lender in 1981 the lending multiple was 3.25 x the higher salary, and 1 x the lower. But the sex of the person earning the higher salary wasn't specified.

A bit later on they started doing 2 x joint income. This reflected the changing times - if a couple earned a similar salary 2x joint was much better than 3.25 x plus 1

Are you sure about that? Say they each earned £25,000.
2 x joint = £100,000
3.25 x £25,000 = £81,250 + £25,000 = £106,250.
So they'd be £6,250 better off under the old method.

mumps

Oblivion wrote: »

Are you sure about that? Say they each earned £25,000.
2 x joint = £100,000
3.25 x £25,000 = £81,250 + £25,000 = £106,250.
So they'd be £6,250 better off under the old method.

I think the reality in the 70s when I first bought was that women were generally earning alot less than men and lots of women with families worked part time, obviously there are always winners and losers. For us the calculation was 3 times husband and one times mine.

Intoodeep

McKneff wrote: »

What about us women who paid 'Married Womans Stamp' when it was not explained the long term effect of this on state pension.


I get only 60% state pension,

You pay in less............errrrrr........you get less