Mortgage vs renting: 19pc vs 52pc of wages

[AtW]

"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.

[vetran]

has been the way for a very long time. skewed of course by social rents.

[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

[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?

[PurpleGorilla]

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

[PurpleGorilla]

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

[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]

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.

[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]

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