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benjamin

Mortgage To Gross Income

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Old news - anything over 30 mins. seems to be these days - but how long did this 34% peak last back in 1990?  Is it VI spin?

http://www.newsnow.co.uk/cgi/NGoto/104766875?-11530

Let's look at the 20% of income they are stating now for new borrowers.

That is an equivalent of 5% mortage on a house at 4x income, i.e. 5% of 400% of salary.

Of course that is the interest only, over 25 years that 400% mortgage will take 16% of income to pay down each year (on current salary).

Does not compute, also factor in unlike in the past there is no mortgage tax relief - how did they forget to mention that in their one-liner comparison?

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Let's look at the 20% of income they are stating now for new borrowers.

also factor in unlike in the past there is no mortgage tax relief - how did they forget to mention that in their one-liner comparison?

Yes and what about all them tax rises we have had since then

Time to kick all them MP's out i thinks as services are not gettting better but MP's are getting richer,

Labour and the Cons are united and playing games with us all

Edited by Justice

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  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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