| Comment | >So they would take home roughly about 4.3k a months and the mortgage would be 1.5k(ish) based on 3.5%
You assuming they don't have a pension? Public sector contributions to pension funds were rocketing up even before this. The policeman and nurse in your scenario are paying 10% of their income for their pension. You assume they don't have a child? You assume they don't have a student loan? You assume they not only don't have a car but also would need no other transport with a cost to get to work? No car payment even for their one car? No insurance? Are they all walking to work? Can they afford to live where that is possible? They also are paying 20% more for their groceries now than they were 12 months ago. Plus more for their phones, their energy, their clothes, etc. That £1000 "cushion" you are banking on might have existed 5 years ago but they might now have like £100-£200 or so tops. One home repair, one redundancy, one car repair, etc.
"Trust me very few people will choose a car or restaurants over their house."
Ohhhhhhhh shit. This statement has me very nervous. Please for the love God don't tell me you are a mortgage broker, a financial analyst, or maybe Kwasi's reddit account. |
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