My partner and I earn dissimilar amounts (I earn more than double what she does) so we are borrowing only what can be covered on her wages which is about a third of what the bank will actually lend us (a frankly eye watering amount).
We don't want to be in a situation where I have to earn what I do now forever to cover the mortgage and doing the above would allow me to take a 50% paycut and still comfortably pay all the bills.
The houses we are looking at decent size in a nice area with good sized gardens, what the hell more do we need, there are only 3 of us, a 3 or 4 bed is just fine.
We are effectively borrowing about x2 our household income not the 5.whatever the bank would lend.
My partner and I earn dissimilar amounts (I earn more than double what she does) so we are borrowing only what can be covered on her wages which is about a third of what the bank will actually lend us (a frankly eye watering amount).
We don't want to be in a situation where I have to earn what I do now forever to cover the mortgage and doing the above would allow me to take a 50% paycut and still comfortably pay all the bills.
The houses we are looking at decent size in a nice area with good sized gardens, what the hell more do we need, there are only 3 of us, a 3 or 4 bed is just fine.
We are effectively borrowing about x2 our household income not the 5.whatever the bank would lend.