Why do so many people here say that 30k-40k is a bad salary ?

If you live in London for, say, 10 years then you'll pay £240k towards your mortgage. That's a hell of a lot of equity that you can potentially downsize if you so wish.

Whereas, if you live in Sunderland for example and pay £370 pcm towards your £67k property then the same 10 year period you'd have paid £45k. Do you think they could move as easily as the Londoner?

More options for people who pay 2k a month on a mortgage, even if in the short term they have less disposable income. And I'm sure that plenty of people in the country don't simply wait for 30 years/retirement to consider moves like this, although that's obviously another benefit.

/r/AskUK Thread Parent