How much are you prepared to pay towards mortgage?

[NorthWestPerm2Contr]

Not to dissimilar figures to us, I'm guessing your outside of the S.E. bubble from your username so a bit of house price inflation/stability could be a good thing. It will be interesting to see how bringing forward the help2buy scheme is going to impact the none S.E.

The can't see interest rates going up for a long time yet and when they eventually do it would be very gradual. Otherwise the bubble will fully explode.

[eek]

The can't see interest rates going up for a long time yet and when they eventually do it would be very gradual. Otherwise the bubble will fully explode.

You clearly weren't around on Black Wednesday as interest rates went from 10% -> 15% and back to 12% over the day....

[Antman]

I remember that, before that it'd been 10 francs to the pound for donkeys years overnight it went to 8 francs

[SueEllen]

You clearly weren't around on Black Wednesday as interest rates went from 10% -> 15% and back to 12% over the day....

ERM?

[eek]

ERM?

Correct. I remember the day as accountants and partners somewhat panicked

[NorthWestPerm2Contr]

You clearly weren't around on Black Wednesday as interest rates went from 10% -> 15% and back to 12% over the day....

Can you imagine what will happen to the housing market, and more importantly economy, if that happened again?

It's not going to go from 0% to 12% in a few years let alone a few days....

[DirtyDog]

As a proportion of your net monthly income.

Would it be more like 30% or would you risk paying 50% or even more?

As a percentage of net monthly income, somewhere in the region of 60%

As a percentage of net annual income, about 14%

[SantaClaus]

Can you imagine what will happen to the housing market, and more importantly economy, if that happened again?

It's not going to go from 0% to 12% in a few years let alone a few days....

Yep, the politicians will see it doesn't. Too many vested interests.

Just keep cranking up the quantitative easing machine.

[mickey]

As a percentage of net monthly income, somewhere in the region of 60%

60% of net monthly income goes towards servicing your debt, your mortgage? Is your day job running a government of a European country?

[amcdonald]

Correct. I remember the day as accountants and partners somewhat panicked

I was on a campsite on the outskirts of paris, hiding in a tent belonging to a load of irish students....

At the time the ERM wasn't the worry, it was the drunken french farmers wandering round fire off shotguns and burning effigies of Mitterrand

Plus the fact that my holiday spending money was tied up in Travellers cheques (thankfully in dollars), so was largely unaffected at that time

My mortgage was only £300 a month, so wasn't that bothered by the hike in interest rates