3 ms·

A software development salary in London will absolutely not support a mortgage on a £1M flat.

• ibmthrowaway218 10y ago
  Depends, for a first time buying couple it's a 10% deposit (plus £45k for stamp duty) and then a combined salary of £225k (assuming 4x multiplier on combined income). Sure ~£110k/year is firmly in the top quartile of dev salaries, but not out of the question. More than likely a couple who are already earning ~£70k/year each probably already have some equity in a current home, so a £1m home might not be much of a step up for them.
  • rogy 10y ago
    Thats like the 0.1% of people.
    • tcbawo 10y ago
      It seems like quite a stretch considering people tend to accumulate financial responsibilities over time (kids, aging parents, etc.).