Tuesday, July 6, 2010
What about a really expensive shoe box?
There seems to be no mention of mortgage in this arseicle. We must remind ourselves that a Â£150,000 mortgage for 25 years @ 6% costs almost Â£1000 a month. This really ought to be in there somewhere in the article because that is the size of a mortgage on the "average" house - assuming a 10% deposit! You would need a salary of Â£16,000 to pay for this mortgage alone! Add in council tax and basic bills and its about Â£20,000. Remembering nobody has eaten a thing yet this should be a little worrying!