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A household (not individual) income of £100000 is sufficient to be well inside the top 10% by income. Using the standard ratio of 4.5 times income for a mortgag
by jen20 5y ago
A household (not individual) income of £100000 is sufficient to be well inside the top 10% by income. Using the standard ratio of 4.5 times income for a mortgage means that you are capped at houses costing around 560k, assuming you have 20% to put down.
The following search for 3 bedroom houses [1] provides either flats, maisonettes and a few houses in areas with poor transport links, and many of these are still over budget.
[1]: https://www.rightmove.co.uk/property-for-sale/find.html?searchType=SALE&locationIdentifier=REGION%5E87490&insId=1&radius=0.0&minPrice=&maxPrice=600000&minBedrooms=3&maxBedrooms=&displayPropertyType=&maxDaysSinceAdded=&_includeSSTC=on&sortByPriceDescending=&primaryDisplayPropertyType=&secondaryDisplayPropertyType=&oldDisplayPropertyType=&oldPrimaryDisplayPropertyType=&newHome=&auction=false https://www.rightmove.co.uk/property-for-sale/find.html?sear...
- Balero 5y agoWhat's wrong with a decent flat or maisonette? I agree with your general point that housing is too expensive! I'm just curious.
- gpderetta 5y agoNot as nice as an house, but having lived in one for a 10 years, they are perfectly fine homes. An usual downside is that technically you never own it.
- jen20 5y agoNothing is wrong with purpose-built flats or maisonettes - I personally live in a high rise! Most people I know looking for a place to live with a family etc are looking for a house though.