When was the "us and them" split made?

Garages go for £30 000 plus in Edinburgh

Looks like i got in and out just in time.

Quick succession of rent/buy/rent/buy over a 4 year period in the late 90s. Almost tripled my initial stake money, then skipped the country.

Can’t really see us ever affording to move to the UK again. At least, not where there is any decent work and in the current political climate. Well, the basic political climate over the last 20 years actually…….

RBS would lend £120 000 to a newly qualified nurse with no dependents or debts

The lenders don’t learn a thing do they. Why would they give a £180K mortgage to someone on £30K per year?

Last time we spoke to a mortgage adviser, they offered us (IIRC) a mortgage of £375k. This was based on our then-current income where my OH was earning double my salary on a two year temporary contract down in That London.

She ended up leaving the contract six months early due to ill health and has just started back working part time again after three years. We’d have done well in the interim with a mortgage over ten times my salary, wouldn’t we. It’s no wonder people get into trouble.

The lenders don’t learn a thing do they. Why would they give a £180K mortgage to someone on £30K per year?

Because the chance of default is still low enough to mean that the increased number of mortgages results in more profit, obviously. Banks wouldn’t do it if it didn’t make money *for them*.

Because the chance of default is still low enough

Exactly my point, it isn’t really low. It is only a low chance if you think it will never go bad (yet again).
Makes money for them in the short term but they lose out when it goes wrong (or some of them do!)

but they lose outthe government bails them out when it goes wrong

Nurses on about £40,000? Common for established nurses? You really sure?

I’m quiting teaching to be a nurse!

Issue is we rent and work in central London. I haven’t a clue what to do with the money and coke and hookers gets brought up a lot as an option.

This is a similar boat to me an my missus, we can save over a grand a month between us – but buy a house in London? Can we ****.

So we’re just going to either invest a grand a month in a good stock market fund or buy an investment property to rent out in Sheffield – to piss them northerners off.

If you’ve got 35k sitting around in a cash savings account you’re losing value on it, as your interest rates aren’t going to keep up with inflation/purchasing power – so either buy a property outright as soon as you can, eg some shit 75k terrace in Sheffield that you can rent to students or invest it.

Edinburgh seems pretty reasonable to me. Try working in the NHS/public service etc in Brighton.

Seems ruddy expensive to me. cheapest property around 100 000 and thats for tiny flats or right in train-spotting country. Two bed flat in a halfway decent area will be 200 000+. House in a leafy suburb pushing a million

Two bed flat in a halfway decent area will be 200 000+. House in a leafy suburb pushing a million

I think the point being made is they don’t want the poor or young in those places. Just the ones who have already made their money….