myallo

Hi, I am a new member and have joined as I am looking for information and opinions from those who know better than I! I do not believe that banks will ever again lend more than 3.5 times combined salary. Consequently, I feel that house prices have a hell of a lot further to fall. The reason: I believe I am in a fairly average situation - combined income with my wife (we have 2 kids and she works part-time) of £45k which at 3.5 times gives us a possible mortgage borrowing of £157,500. Given that the current average is around £225k i calculate that we have a further 40% to drop - am I miles away from reality?

Hi, I am a new member and have joined as I am looking for information and opinions from those who know better than I! I do not believe that banks will ever again lend more than 3.5 times combined salary. Consequently, I feel that house prices have a hell of a lot further to fall. The reason: I believe I am in a fairly average situation - combined income with my wife (we have 2 kids and she works part-time) of £45k which at 3.5 times gives us a possible mortgage borrowing of £157,500. Given that the current average is around £225k i calculate that we have a further 40% to drop - am I miles away from reality?

Hi, first time poster and looking forward to airing some opinions and beliefs. I'm a home owner looking to move up the property ladder in the next 18-24 months - timing is everything of course!!