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Colleague On £100K Trapped In 2 Bed London Flat

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Watercooler conversation.... a colleague who lives in and commutes from london, earns £100k, owns (ok, part owns as has a mortgage) a 2 bed flat in london. has wife and year old daughter. Said he is unable to get anywhere bigger due to house prices.... and feels trapped.

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Watercooler conversation.... a colleague who lives in and commutes from london, earns £100k, owns (ok, part owns as has a mortgage) a 2 bed flat in london. has wife and year old daughter. Said he is unable to get anywhere bigger due to house prices.... and feels trapped.

Of course he owns the lease on the flat...

He also is the proud guarantor on a mortgage for money he borrowed.

Edited by Bloo Loo

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Just shows how cr*p things now are in the UK - 100K and in that situation. Problem is, his situation will not improve if he sells up and goes to the regions as he probably will not earn anywhere near 100K unless he is senior public sector.

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Whingers on £100K do not deserve to earn £100K. Get real. The child will not give a monkeys about it's surroundings for years. They could live in the cheapest place possible and SAVE.

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Whingers on £100K do not deserve to earn £100K. Get real. The child will not give a monkeys about it's surroundings for years. They could live in the cheapest place possible and SAVE.

I don't think you get the point.

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Whingers on £100K do not deserve to earn £100K. Get real. The child will not give a monkeys about it's surroundings for years. They could live in the cheapest place possible and SAVE.

Quite......but you can't have someone earning £100k living in a place where people on less than half that are living.....you are judged on appearances don't you know. ;)

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Not saying that houses aren't hideously over priced, but he could easily move out of London and commute in and get a much bigger house with a reasonably small mortgage relative to his salary.

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I confess, I don't understand these '100k in London' threads.

my reading is:

The job pays 100k because that is what is needed to fill the entry-level post because of the costs of housing and living in the capital city, which, de-facto, will always be higher than elsewhere.

So to say "I have a huge salary - I'm valuable - and yet this is all I can afford, is to misread the situation.

In that sense, I am all for regional pay scales in the public sector.

Edited by LiveinHope

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I don't think you get the point.

Of course I do........it is a disgrace that someone on this salary cannot afford a decent suitable place to live due to the mental UK housing market.......but harder still for the majority who struggle on a fraction of this and must be sick and tired of hearing six figure middle class poverty stories.

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Surely the point the OP is making is that if someone on £100k is stuffed it is more evidence there is no hope for the vast majority of the younger population.

I see it as a long term positive though. If he can't afford to trade up no one can- all those "£million + worth" properties in London - simply aren't.

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Surely the point the OP is making is that if someone on £100k is stuffed it is more evidence there is no hope for the vast majority of the younger population.

I see it as a long term positive though. If he can't afford to trade up no one can- all those "£million + worth" properties in London - simply aren't.

Good point.

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Whingers on £100K do not deserve to earn £100K. Get real. The child will not give a monkeys about it's surroundings for years. They could live in the cheapest place possible and SAVE.

How quaint.

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Surely the point the OP is making is that if someone on £100k is stuffed it is more evidence there is no hope for the vast majority of the younger population.

The vast majority will have different expectations

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Surely the point the OP is making is that if someone on £100k is stuffed it is more evidence there is no hope for the vast majority of the younger population.

I see it as a long term positive though. If he can't afford to trade up no one can- all those "£million + worth" properties in London - simply aren't.

That is why a drastic reduction in rents followed by housing can only be good for the working tax paying population of London, the productive........lots of the rich in London don't work, or even live in London, they are not productive because they don't have to be. ;)

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I confess, I don't understand these '100k in London' threads.

my reading is:

The job pays 100k because that is what is needed to fill the entry-level post because of the costs of housing and living in the capital city, which, de-facto, will always be higher than elsewhere.

So to say "I have a huge salary - I'm valuable - and yet this is all I can afford, is to misread the situation.

In that sense, I am all for regional pay scales in the public sector.

Are you serious? The wage for an entry level job in London is £18,000 - £22,000.* Go and look at the job adverts if you don't believe me.

* When it's not an unpaid / travel + subsistence only post.

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Of course I do........it is a disgrace that someone on this salary cannot afford a decent suitable place to live due to the mental UK housing market.......but harder still for the majority who struggle on a fraction of this and must be sick and tired of hearing six figure middle class poverty stories.

Like I said, you miss the point (or rather you get it but you didn't realise it... or something...). My concern, like yours, isn't for the 100K person, but for the majority. If a ruler of a country was to announce "it's a disgrace - I don't have enough food and sometimes there aren't even any left-overs of the least-popular dish", I would not be particularly concerned about the well-being of the ruler, but I would be very concerned about his subjects... struggling 100K-ers are a big fat canary...

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Are you serious? The wage for an entry level job in London is £18,000 - £22,000.* Go and look at the job adverts if you don't believe me.

* When it's not an unpaid / travel + subsistence only post.

Plus benefits to actual pay to survive, don't know how companies get away with this.

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Are you serious? The wage for an entry level job in London is £18,000 - £22,000.* Go and look at the job adverts if you don't believe me.

* When it's not an unpaid / travel + subsistence only post.

Ok, take your point. Just think people on 100k have a starry-eyed 'number' inflated opinion of their value. Not entry level, but only a few years off. The job wouldn't command 100k outside London.

Most people earn far less and have different lifestyles and expectations, and as other posters have said, there is where you find the reality.

Edited by LiveinHope

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Without knowing where the flat is - it's hard to know whether to feel sympathy or not.

He might be able to sell up and get a bigger place a bit further out.

For some parts of London, being on a salary is not enough to buy something decent as virtually all property is bought by rich overseas investors or bankers.

Those on substantially less than £100K are completely screwed.

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Yes, let me find my tiny violin.

He has (had) a choice - could have rented and saved. Could have commuted....

I lived in London for 5 years and earned on average less than 10,000 a year and had a comfortable life and never felt trapped.

My sister and boyfriend earned around 100k, rented a flat in Brixton for £1200 a month and endlessly moaned. Why?

Now my inlaw banker who earned £160,000 + £40,000 bonus at JP Morgan has jacked it in to live in Devon in a shithole farmhouse with the wife and endlessly moans about his money pit.

No sympathy - they've all made these decisions for themselves.

Facking narcissists.

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Not saying that houses aren't hideously over priced, but he could easily move out of London and commute in and get a much bigger house with a reasonably small mortgage relative to his salary.

The price of commuting is obscene, you are talking 10K+ of your gross salary to get to work + 2 hours commuting.

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Whingers on £100K do not deserve to earn £100K. Get real. The child will not give a monkeys about it's surroundings for years. They could live in the cheapest place possible and SAVE.

Earning a whopping 2% interest and then paying nearly half that back in tax...

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  • 241 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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