Thursday, August 31, 2017

Could I only afford a terraced house on £30,000 a year income?

I'm going in the teaching profession and will be on £22,000 at 21 years of age and will be on about £30,000 when I'm about 28, people say that this is a very good wage, but I've also been told that for a mortgage they will lend you 3.5 times your income, which comes to just over £100,000, from the houses I have seen, you can only get a terraced house or a run down semi detached for that price. If this is the case, then how is £30,000 a year a good income?

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