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How much would you borrow?
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Getmore's approach is right - is a nice holiday/car/frock more important to you?
Slightly concerned that an accountant doesn't want to budget - or face up to what she's really spending perhaps - but the general rule of thumb has always been a third of household income can be allotted to the mortgage.0 -
Getmore's approach is right - is a nice holiday/car/frock more important to you?
Slightly concerned that an accountant doesn't want to budget - or face up to what she's really spending perhaps - but the general rule of thumb has always been a third of household income can be allotted to the mortgage.
1/3 is good when you split it into 1/3rds
Save
House
Spend
Retire early mortgage free.
It is easy to make 1/3 stretch just extend the term.
The rule of thumb was 25 years that got thrown out.0
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