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New House pt 2
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[quote][i]Originally posted by Ben G[/i] [quote][i]Originally posted by taylorboosh[/i] I know id feel sick paying around half my wages on a huge mortgage [/quote] That's life, unfortunately. I think our current mortgage is only 20% of our net income, so easily manageable. Upping it to £1200 would take it to around 33%, so still very much manageable. The problem down here is people have been priced out of the London boroughs, so are moving further out into the commuter belts. Thurrock is 2nd in the UK for house price increases over the last year I believe. Good for sellers, bad for buyers. Unfortunately I'm both, so I benefit in one way and lose out on another. Either way, I started on the property ladder with a 17k deposit and now it looks like I'll have at least 100k equity in this house. Not a bad investment. [/quote]
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