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kayh17 | 13:59 Wed 08th Sep 2004 | Business & Finance
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How much would i have to earn each week to apply for a 60,000.00 mortgage
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�385 a week before tax based on the age old '3 times your salary' guide line.
yeah go off the 3 times ur salary guide. so about �20,000 a year before tax
Think its 3.5 times your salary now
With interest rates on the up again I wouldn`t want to go for more than 3 times my salary. Remember that a jump from 5% to 6% is a TWENTY PERCENT increase [one fifth], not 1 percent.
I applied for a mortgage recently and the Halifax offered me 4.3 x my salary. Totally crazy as the repayments would have left me with little money to spend, but it's a good indication of the multiples that banks work with.
You can buy a house for that little in the UK??????
maybe she already has a reasonable deposit and only needs a �60,000 mortgage but ur right im sure there arent many houses in the uk at that price!
That`s the major problem these days....even a 20K salary won`t get a foot on the property ladder. I think I`ve got problems and my mortgage is only 30K.
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