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Once in a lifetime

How Much Mortgage?

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Shouldn't this be an earning multiple, as if you don't know a posters salary then the amount of money is fairly irrelevant??

I'd go with up to £130K ish... depending what I was buying.

For me that is around 3x income multiple (of my main job) ignoring bonus and other earnings.

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Shouldn't this be an earning multiple, as if you don't know a posters salary then the amount of money is fairly irrelevant??

I'd go with up to £130K ish... depending what I was buying.

For me that is around 3x income multiple (of my main job) ignoring bonus and other earnings.

Depends, it might be related to earnings for some.

I wanted to see (being nosy) if the high house prices has desensitised people to debt.

And what amount of debt people here are prepared to swallow.

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Depends, it might be related to earnings for some.

I wanted to see (being nosy) if the high house prices has desensitised people to debt.

And what amount of debt people here are prepared to swallow.

I think it has definitely desensitised people.

How many people pay big money for a new car because the numbers look insignificant against the value of their 'housing wealth'??

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Shouldn't this be an earning multiple, as if you don't know a posters salary then the amount of money is fairly irrelevant??

I'd go with up to £130K ish... depending what I was buying.

For me that is around 3x income multiple (of my main job) ignoring bonus and other earnings.

If you would prefer a slightly different poll, then why don't you post one? I'd vote in both.

Billy Shears

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If you would prefer a slightly different poll, then why don't you post one? I'd vote in both.

Billy Shears

Because all that is relevant is what I'd borrow.

I've lost interest in what other people will borrow.

Clearly some people are absolutely bonkers and will borrow anything that someone is willing to lend them (present company partly excluded).

I'd stick to borrowing what is well within my means to repay while maintaining (hopefully) the quality of life I have become accustomed to (courtesy of those lovely BTL folks who subsidise my living costs :P )

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Shouldn't this be an earning multiple, as if you don't know a posters salary then the amount of money is fairly irrelevant??

I'd go with up to £130K ish... depending what I was buying.

For me that is around 3x income multiple (of my main job) ignoring bonus and other earnings.

I agree but it's not always about income multipliers - I have friends whose gross family earnings are higher than mine but they spend most of it on childcare for example (I work from home so don't pay any childcare). It depends on what your priorities are and what you spend on other things aswell. Some people would happily sacrifice other things for the property of their dreams, while others would rather a more modest home but the luxuries along with it.

My vote was quite high btw but I'm not stupid enough to borrow anything I can't pay back comfortably. I'm certainly not bonkers - I live a more than comfortable lifestyle on top of my mortgage.

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Shouldn't this be an earning multiple, as if you don't know a posters salary then the amount of money is fairly irrelevant??

I'd go with up to £130K ish... depending what I was buying.

For me that is around 3x income multiple (of my main job) ignoring bonus and other earnings.

I agree but it's not always about income multipliers - I have friends whose gross family earnings are higher than mine but they spend most of it on childcare for example (I work from home so don't pay any childcare). It depends on what your priorities are and what you spend on other things aswell. Some people would happily sacrifice other things for the property of their dreams, while others would rather a more modest home but the luxuries along with it.

My vote was quite high btw but I'm not stupid enough to borrow anything I can't pay back comfortably. I'm certainly not bonkers - I live a more than comfortable lifestyle on top of my mortgage.

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Guest The_Oldie

This has altered my expectations; I had no idea so much debt is willing to be taken on? :o

Hmmmm...

But you may well find that not all of those willing to take on high levels of debt would be prepared to do so at this point in the market cycle ;).

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Hmmmm...

But you may well find that not all of those willing to take on high levels of debt would be prepared to do so at this point in the market cycle ;).

Yes, I said I would go to £120,000, but only to buy something that is genuinely worth £120,000.

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This has altered my expectations; I had no idea so much debt is willing to be taken on? :o

I dont know, maybe you have been burnt before?

I would be more concerned about affordability of repayments, and non-mortgage debts than actual mortgage debt.

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I dont know, maybe you have been burnt before?

I would be more concerned about affordability of repayments, and non-mortgage debts than actual mortgage debt.

3.5 x income doesn't say what they can afford, saying I'd borrow £150,000 means there

must be a few on here almost ready or about to jump in?

Incomes change. so do interest rates. but debt is real.

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3.5 x income doesn't say what they can afford, saying I'd borrow £150,000 means there

must be a few on here almost ready or about to jump in?

Incomes change. so do interest rates. but debt is real.

If you rent for the next 40 years you will probably spend far more than £150,000 on accomodation because

You need somewhere to live,

As incomes rise, so does rent inflation.

You won't own your property in retirement, and will still have to pay rent.

This is why banks lend on houses, but I cant get £150k off them to play roulette or the stock exchange

Mortgage debt is not that bad per se because it is secured on a normally appreciating asset.

Buying an overpriced asset however is bad, I think we will both agree :D

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I honestly thought the average would be lower, is anyone else surprised?

To me this indicates a desensitised outlook on debt!

A definitive reason why house prices are defying gravity.

A lot of people here, are prepare to dig a big hole.

There’s life in the housing market yet!

michaelfish1mi.png

"A person phoned the BBC today to say a recession is on it's way, Ha..Ha..Ha... don't worry...it isn't"

I wonder if this Poll was redone next year would the stats change?

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I honestly thought the average would be lower, is anyone else surprised?

To me this indicates a desensitised outlook on debt!

A definitive reason why house prices are defying gravity.

A lot of people here, are prepare to dig a big hole.

I wonder if this Poll was redone next year would the stats change?

people on this forum might not be a representative sample of the UK population , ie we might be a bunch of high earning low net worth individuals, unwilling to compromise on our aspirations and a touch bitter we missed the boom! :D:D:unsure:

edit: oops double post

Edited by Sisyphus

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people on this forum might not be a representative sample of the UK population , ie we might be a bunch of high earning low net worth individuals, unwilling to compromise on our aspirations and a touch bitter we missed the boom! :D:D:unsure:

edit: oops double post

That's surely the point, absolute mortgage size is irrelevant, if I earn £25K a year £75K is going to hurt if I have a family etc. - if I earn £200K a year, then half million is a relative breeze.... - yet the multiple is much less and any prudent £200K a year earner is going to take his money and pay down £60K a year off it and be debt free in 6-7 years (given a 'normal' lifestyle). It does not really matter about the job security, it's often more secure in the high paying ones (banking excepted) than the lower ones and another job is relatively easy to secure on decent money in the professions (in almost all markets) - so if the worst happens in two years you have whacked it down to £380 and are going to go interest only on £50K a year and still have £1500 a month to live on - that's near enough rent on most family places (in the SE at least)..... - that way the mortgage does not suck that much - especially if you had a half million of equity pre-HPC anyway.....

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  • 301 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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