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


"MCP" <gf010w5035@xxxxxxxxxxxxxxxx> wrote in message
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"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.

Heidi wrote:
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



MCP wrote:
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!

So, if it's a two-income family, you may have hubby earning 24,000 pounds
and the wife 20,000. That would come to 44,000 pounds per year. That would
leave that family with 26,400 pounds to spend on other things. Is that
enough?

What's the minimum wage over in the UK?

Heidi



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