Re: Britons 'spend 40% of wages on their mortgage'


"Heidi Graw" <heidigraw@xxxxxxx> wrote in message
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"MCP" <gf010w5035@xxxxxxxxxxxxxxxx> wrote in message
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http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=393138&in_page_id=1770&ico=Homepage&icl=TabModule&icc=NEWS&ct=5

More than 40 per cent of a homeowner's take-home pay is now being wiped out by
mortgage repayments, Britain's biggest building society revealed yesterday.

What's the average wage of homeowner's? This would make a difference. High income
earners can afford to pay 40% and still have tons left for frills. Minimum wage
earners, however, would not be able to afford to buy groceries to last the month.

In BC, people are also paying 40% for their housing. But, they still have two
vehicles on the road. Their kids are in daycare. The family goes on vacations to
foreign countries. They're buying the latest fashions. They've still got money to
spend on frills. Is it 40% of $120,000 or 40% of $16,000? The former has $72,000
left over, while the latter only $9,600.

Much depends on what income levels are involved.

Heidi


I think the average wage in the UK is round about £24,000 a year after tax,but i'm
not sure so maybe someone else will confirm this,or not!


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