Reply to: Mortgage vs renting: 19pc vs 52pc of wages

[MicrosoftBob]

MF has got extensive DFS sofa portfolio in Luton.

FTFY

[AtW]

Or neither happens and you land up working for Suity and renting his spare room.

He's got like 8 kids, what kind of mansion he lives in to have spare rooms?

[MarillionFan]

Nope.

Tactically waiting until house prices crash to more sensible levels (50% off) or I become filthy rich, whichever comes first I win...

Or neither happens and you land up working for Suity and renting his spare room.

[MicrosoftBob]

When you say just bought, do you mean 1998? Or is it in 'the valleys' or up on 'tut-moor'?

What £110k gets round here:

Whitfield Close, Warminster
2 bedroom mobile home for sale in Whitfield Close, Warminster, BA12

To be fair mobile homes can be expensive in sea side areas, where I live they're a lot dearer than the cheap housing locally as mobile homes are bought or let as holiday homes not a US style trailer trash home

[AtW]

When you say just bought, do you mean 1998? Or is it in 'the valleys' or up on 'tut-moor'?

MF has got extensive BTL portfolio in Luton.

[AtW]

Have you bought yet AtW?

Nope.

Tactically waiting until house prices crash to more sensible levels (50% off) or I become filthy rich, whichever comes first I win...

[AtW]

£704 being 52% of gross income vs £612 being 19% of salary.

They're clearly comparing apples with apricots as the numbers don't add up. It's vastly sexed up for the article.

My eldest son is in the middle of buying his first house with his wife and the amount they're going to pay on mortgage isn't much different from their current rent. Mind you the deposit is a little different from the rental one

Dad, is that you?

[PurpleGorilla]

Mortgage vs renting: 19pc vs 52pc of wages

Mugs.

My long-term tenant has just bought a house in an auction. She's paid me 600 quid every month for the last 3 and a half years & for 30k down and 75k mortgage picked up a 2 bedroomed house. She's going to be paying 200 quid now instead.

It's a no brainer. Have you bought yet AtW?

When you say just bought, do you mean 1998? Or is it in 'the valleys' or up on 'tut-moor'?

What £110k gets round here:

Whitfield Close, Warminster
http://www.rightmove.co.uk/property-...-50474878.html

[MarillionFan]

"Private tenants are shelling out half of their take-home pay on rent, an authoritative report has revealed.

Figures in the government’s latest English Housing Survey show tenants paid 52pc of their gross income in rent last year, handing over £704 a month on average.

In contrast mortgage holders, who tend to have higher incomes, typically pay £612 a month. This works out at just 19pc of their salary, as the chart below shows. "

Mortgage vs renting: 19pc vs 52pc of wages - Telegraph

FFS, this is bonkers.

Mugs.

My long-term tenant has just bought a house in an auction. She's paid me 600 quid every month for the last 3 and a half years & for 30k down and 75k mortgage picked up a 2 bedroomed house. She's going to be paying 200 quid now instead.

It's a no brainer. Have you bought yet AtW?

[PurpleGorilla]

If that means am I funding the deposit? The answer is yes, it would take them years to build a deposit even though they're both science graduates with decent incomes.

That's very decent of you. Most people I know have had this gifted start. Does make it a challenge for the those that don't, but I can understand it, and it's good you appreciate the difficulty and happy to help. I know the government has HTB, but I like houses made out of bricks rather than straw or sticks that Wimpy et al favour. Never know when the big bad wolf comes a knocking.

[TykeMerc]

BOMAD deposit?

If that means am I funding the deposit? The answer is yes, it would take them years to build a deposit even though they're both science graduates with decent incomes.

[PurpleGorilla]

http://ochousingnews.com/blog/wp-con...ordability.jpg

[PurpleGorilla]

http://i.imgur.com/2EbWCb7.jpg

[PurpleGorilla]

£704 being 52% of gross income vs £612 being 19% of salary.

They're clearly comparing apples with apricots as the numbers don't add up. It's vastly sexed up for the article.

My eldest son is in the middle of buying his first house with his wife and the amount they're going to pay on mortgage isn't much different from their current rent. Mind you the deposit is a little different from the rental one

BOMAD deposit?

[TykeMerc]

"Private tenants are shelling out half of their take-home pay on rent, an authoritative report has revealed.

Figures in the government’s latest English Housing Survey show tenants paid 52pc of their gross income in rent last year, handing over £704 a month on average.

In contrast mortgage holders, who tend to have higher incomes, typically pay £612 a month. This works out at just 19pc of their salary, as the chart below shows. "

Mortgage vs renting: 19pc vs 52pc of wages - Telegraph

FFS, this is bonkers.

£704 being 52% of gross income vs £612 being 19% of salary.

They're clearly comparing apples with apricots as the numbers don't add up. It's vastly sexed up for the article.

My eldest son is in the middle of buying his first house with his wife and the amount they're going to pay on mortgage isn't much different from their current rent. Mind you the deposit is a little different from the rental one