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The 3.5 x Salary ideal - ever realistic again?

3under3 · 2008-05-23 09:58:01

I see alot of posts from people waiting for houses to be affordable again before buying referring to the 3.5 x salary mortgage ideal but is this really realistic? I'm referring really to the south east where I live. My parents sold their 3 bed semi (which was their first purchase in the 1960's) for 112k in 1997 at the…

Comments

bryanb Posts: 5,034 Forumite

28 May 2008 at 3:44PM

PasturesNew wrote: »

If my parents die without needing to go into care, then it's still got to be split 3 ways.... so I'd probably get about £50k.

Hardly the 'valuable real estate' you seem to indicate. And my parents have to die for me to get it. Which sucks.

£150000 seems quite a valuable asset to me, not everyone will have to split 3 ways. Death is not a subject we generally acknowledge, but it is inevitable for us all.

This is an open forum, anyone can post and I just did !
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