Number I344

ukcarper · 2 February 2018 at 10:21PM

antrobus wrote: »

It's a misconception based on the fact that for a long time, standard mortgage advances were based on 3 x salary (plus 1 x lower salary, if you were a couple). At lease that's what it was in 1988.

It was standard practice but I managed to borrow more than that in early 70s.

Thrugelmir · 2 February 2018 at 10:59PM

antrobus wrote: »

It's a misconception based on the fact that for a long time, standard mortgage advances were based on 3 x salary (plus 1 x lower salary, if you were a couple). At lease that's what it was in 1988.

In 1984 the most LLoyds were willing to advance was 2.75 times joint income. Only choice was to buy where prices were affordable and commute back.

lookstraightahead · 3 February 2018 at 8:09AM

I remember that. Usually you didn!!!8217;t expect to live close to where you worked. You lived where you could afford and commuted. That could be a few hours each way but you just did it, unless you did, say, manual work. My dad on the other hand walked miles and miles to do his shift down the pit.