How much would you need to earn for a £510,000 mortgage

chaparral · 12 Jul 2021 at 18:09

Guys how much would you need to earn to be able to get a £510,000 (Average house price) mortgage over 25 years ?

chaparral · 12 Jul 2021 at 18:13

Russinating said:
It's variable and there's other factors to consider but as a general rule mortgages currently go up to 4-5x salary, so assuming a 10% deposit you'd need a salary of £91,800-114,750.

WOW that crazy :eek:

i earn less then half that

chaparral · 12 Jul 2021 at 18:25

-Sorry guys am not buying a house myself as am to old now (51) to be able to get a 25 year mortgage.

I was just wondering what someone would need to earn these days to be able to buy an average price house over here

chaparral · 12 Jul 2021 at 18:34

Over million quid for just a house on an estate

Property | Swoffers - 8 Clos de Bas
£1,075,000

chaparral · 12 Jul 2021 at 19:40

Uther said:
They still wouldn't earn enough.

chaparral · 12 Jul 2021 at 19:41

robfosters said:
But hasn’t the Channel Islands got the highest concentration of millionaires in the UK?

I got no idea