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Still with that level of income that’s an wholly uncomfortable amount. Makes me glad ours is less than a third (though we don’t live in a 2m house).
Tenderloin-
Still with that level of income that’s an wholly uncomfortable amount.
Sure, but not everything scales with income. If I got paid twice as much and moved house to somewhere with double the mortgage I'd have more money left at the end of the month than I do now. Mortgage costs double but, for example, my monthly supermarket bills doesn't automatically double.
Years ago I got a 10% pay rise that more than quadrupled by disposable income, but that's because I was living quite close to the wire up to that point.
It [a mortgage of a bigger house] is a problem I'm unlikely to ever have though.
Greenbank
Scary for sure.
I did due diligence late last year for work on a specialty mortgage broker focusing on jumbo loans. Lots of London houses bought with 5x joint HH income mortgages to professional couples earning £300k+ between them (two law associates, consultants / bankers etc). Frightening monthly payments.