(Picture: Getty)
Today in depressing house price news…
So there’s new (terribly grim) research which has revealed just how long you should expect it to take save a deposit for a house if you’re in one of the following ten jobs.
The deposits have been calculated based on a £202,765 property (the average price for first time buyers in the UK) and the mortgage loans are 4.5 times the estimated salaries.
For example, if somebody earned £10,000 a year they could get a £45,000 mortgage loan, so the remainder of the house price would have to be paid in the deposit, which explains why they are dramatically inflated. Yikes.
Dental nurse. (Shown above)
Estimated annual salary: £14,788
Maximum mortgage loan of 4.5 times earnings: £66,546
Deposit required for average first-time buyer property: £136,219
Annual saving (around 10 percent of annual wage): £1,314.30
Years taken: 103.6
Fitness Instructor.
Today in depressing house price news…
So there’s new (terribly grim) research which has revealed just how long you should expect it to take save a deposit for a house if you’re in one of the following ten jobs.
The deposits have been calculated based on a £202,765 property (the average price for first time buyers in the UK) and the mortgage loans are 4.5 times the estimated salaries.
For example, if somebody earned £10,000 a year they could get a £45,000 mortgage loan, so the remainder of the house price would have to be paid in the deposit, which explains why they are dramatically inflated. Yikes.
Dental nurse. (Shown above)
Estimated annual salary: £14,788
Maximum mortgage loan of 4.5 times earnings: £66,546
Deposit required for average first-time buyer property: £136,219
Annual saving (around 10 percent of annual wage): £1,314.30
Years taken: 103.6
Fitness Instructor.
(Picture: Getty)Estimated annual salary: £10,540
Maximum mortgage loan of 4.5 times earnings: £47,430
Deposit required for average first-time buyer property: £155,335
Annual saving (around 10 percent of annual wage): £1,024.20
Years taken: 151.7
Hairdresser.
(Picture: Getty)
Estimated annual salary: £10,019
Maximum mortgage loan of 4.5 times earnings: £45,085.50
Deposit required for average first-time buyer property: £157,680
Annual saving (around 10 percent of annual wage): £978.40
Years taken: 161.2
Retail cashier.
Estimated annual salary: £10,019
Maximum mortgage loan of 4.5 times earnings: £45,085.50
Deposit required for average first-time buyer property: £157,680
Annual saving (around 10 percent of annual wage): £978.40
Years taken: 161.2
Retail cashier.
(Picture: Getty)
Estimated annual salary: £9,160
Maximum mortgage loan of 4.5 times earnings: £441,220
Deposit required for average first-time buyer property: £161,545
Annual saving (around 10 percent of annual wage): £902.80
Years taken: 178.9
Kitchen assistant.
Estimated annual salary: £9,160
Maximum mortgage loan of 4.5 times earnings: £441,220
Deposit required for average first-time buyer property: £161,545
Annual saving (around 10 percent of annual wage): £902.80
Years taken: 178.9
Kitchen assistant.
(Picture: Getty)
Estimated annual salary: £8,975
Maximum mortgage loan of 4.5 times earnings: £40,387.50
Deposit required for average first-time buyer property: £162,378
Annual saving (around 10 percent of annual wage): £886.50
Years taken: 183.2
Cleaner.
Estimated annual salary: £8,975
Maximum mortgage loan of 4.5 times earnings: £40,387.50
Deposit required for average first-time buyer property: £162,378
Annual saving (around 10 percent of annual wage): £886.50
Years taken: 183.2
Cleaner.
(Picture: Getty)
Estimated annual salary: £7,919
Maximum mortgage loan of 4.5 times earnings: £35,635.50
Deposit required for average first-time buyer property: £167,130
Annual saving (around 10 percent of annual wage): £791.90
Years taken: 221
Waiter/Waitress.
Estimated annual salary: £7,919
Maximum mortgage loan of 4.5 times earnings: £35,635.50
Deposit required for average first-time buyer property: £167,130
Annual saving (around 10 percent of annual wage): £791.90
Years taken: 221
Waiter/Waitress.
(Picture: Getty)
Estimated annual salary: £7,554
Maximum mortgage loan of 4.5 times earnings: £33,993
Deposit required for average first-time buyer property: £168,772
Annual saving (around 10 percent of annual wage): £755.40
Years taken: 223.4
Bar staff.
Estimated annual salary: £7,554
Maximum mortgage loan of 4.5 times earnings: £33,993
Deposit required for average first-time buyer property: £168,772
Annual saving (around 10 percent of annual wage): £755.40
Years taken: 223.4
Bar staff.
(Picture: Getty)
Estimated annual salary: £7,404
Maximum mortgage loan of 4.5 times earnings: £33,318
Deposit required for average first-time buyer property: £169,447
Annual saving (around 10 percent of annual wage): £740.40
Years taken: 228.9
Taxi Driver.
Estimated annual salary: £7,404
Maximum mortgage loan of 4.5 times earnings: £33,318
Deposit required for average first-time buyer property: £169,447
Annual saving (around 10 percent of annual wage): £740.40
Years taken: 228.9
Taxi Driver.
(Picture: Getty)
Estimated annual salary: £15,216
Maximum mortgage loan of 4.5 times earnings: £68,472
Deposit required for average first-time buyer property: £134,293
Annual saving (around 10 percent of annual wage): £1,343.40
Years taken: 100
Care escort.
Estimated annual salary: £15,216
Maximum mortgage loan of 4.5 times earnings: £68,472
Deposit required for average first-time buyer property: £134,293
Annual saving (around 10 percent of annual wage): £1,343.40
Years taken: 100
Care escort.
(Picture: Getty)
Estimated annual salary: £7,244
Maximum mortgage loan of 4.5 times earnings: £32,598
Deposit required for average first-time buyer property: £170,167
Annual saving (around 10 percent of annual wage): £724.40
Years taken: 234.9
Props to HouseSimple.com for the figures.
Estimated annual salary: £7,244
Maximum mortgage loan of 4.5 times earnings: £32,598
Deposit required for average first-time buyer property: £170,167
Annual saving (around 10 percent of annual wage): £724.40
Years taken: 234.9
Props to HouseSimple.com for the figures.
Metro UK
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