Monday, July 13, 2009

More like £30,000 a year

How the average household now pays out £18,000-a-year on bills every year http://www.dailymail.co.uk/news/article-1199369/How-average-household-pays-18-000-year-bills-year.html#ixzz0LAOW9Ljr&D

look at how the mortgage figures are, wonder where they got this info from???

Posted by mark @ 07:47 PM (1150 views)
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12 thoughts on “More like £30,000 a year

  • Mortgage/rent £515.19/month

    Eh? This is based on 1980s prices, surely. It’s a common government statistical trick – use outdated figures whenever talking about the cost of living because it makes everything look peachy.

    Does anyone know anyone who pays that little in rent or mortgage?

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  • montesquieu says:

    The word ‘average’ is completely meaningless jere anyway. Mean or median? Is this an ‘average’ of mortgagepayers, or of an aggregate of mortagepayers and non-mortgagepayers (renters/council house/mortgage paid off).

    Typical Daily Mail pointless non-story.

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  • letthemfall says:

    If these “whopping” figures are correct, that means the average bod is paying just about all their take-home pay on the items listed. Which may be one reason why so many have borrowed so much. Mind you, they could save on the travel insurance. No travel costs for holidays are itemised.

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  • brickormortis says:

    Ok, now for those they forgot about. What about:

    1) Car servicing + MOT + Repair bills (especially as there are lots of two car families about!)
    2) Sending the kids to school/tuition fees bills
    3) I bought mire car with a loan bill
    4) I renew my fixed rate mortgage every two to three years bill (about £1000)
    5) Things that go wrong with my house bills (plumber etc)
    6) Unfair bank charges
    7) THE ACTUAL TYPICAL MORTGAGE REPAYMENT lets say for those who bought there house in the last 3 years!

    Anyone else have any ideas?

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  • brickormortis says:

    What about income tax an commuting fuel bill?

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  • Brickormortis says:

    I used to live in Oxford and the rent for a 3 bed house in a reasonable area was about £1300 a month and when I live in West London more like about £1500.

    Now lets imagine a £200,000 mortgage paying 6% interest p.a. That equates to £1000 a month in intereset alone more like £1300 on a repayment basis I imagine! Oh and have you tried buying a hosue in Oxford with a £200,000 morttgage cause it aint easy. Try £300,000 without bank of mum and dad and even with someetimes!

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  • Brickormortis says:

    I also didn’t see pension contributions or national insurance or maybe for some, medical insurance.

    Oh, sorry I forgot, houses are pensions these days!

    Oh and what about just putting money aside for a rainy day – surely we all do that!?

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  • Credit action stats have average mortgage owed and avg mortgage rate.

    11.1 million outstanding mortgages on households who currently have mortgages avg £110,480,
    avg int rate paid 3.59%

    Is £330 in interest per month (not including repayments) sounds about right to me…but sure it’s only one type of avg

    http://www.creditaction.org.uk/assets/PDF/statistics/2009/july-2009.pdf

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  • Mortgage/rent – £515.19 where is this happening? Hard to find under £ 1000/month

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  • what about the bill for paying your bill by cash instead of Direct Debit ?

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  • Its the Mail. Its a lie

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  • krustyatemyhamster says:

    @Paul
    “Does anyone know anyone who pays that little in rent or mortgage?”

    Erm yeah, I pay two mortgages (came with wife) on two houses and rent on a flat for £840 a month in total (that’s the total we pay between us – well actually we pay just under twice that amount with overpayments). It would be £230 minimum if it wasn’t for the flat (an unfortunate necessity at the moment – well I could always sleep in a tent during the week I suppose, but I’m not quite that parsimonious, but have considered it).

    £515 a month sounds about right to me (when considering the average house/mortgage owner). If you guess that half the houses with a mortgage owing were bought before prices got silly, then weren’t all those houses bought at something like 70k average (at a complete guess)? At todays IRs that could be no more than around £350 a month (average is probably less when you consider those that have made overpayments) – but bear in mind this is half the mortgage holders in the country I’m talking about. Then there’s all the people that have paid off their mortgage (rent/mortgage free) who will bring down the average also. It’s a pig and I totally agree with you about the unfairness before anyone beats me up for being a homeowner.

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