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Showing results for tags 'income multiples'.
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The Guardian is reporting salaries by profession from ONS data https://www.theguardian.com/money/2016/oct/31/highest-paid-jobs-2016-ons-annual-survey-hours-earnings Take doctors, Median is £75k, 90th percentiles is £132k It is the 8th highest paid profession. The top is for financial traders / brokers - but too few reported to allow proper statistics. They had an average of £132k. The BoE are looking at mortgages multiples of 4.5 times... So median doctor can borrow £337k, top paid 10% of doctors can borrow £594k So how can house prices be where they are? Either mortgages are all much bigger than let on, or most people are committing tax fraud?