Re: Advice on moving to London?
I want some input on this from guppies living in London.
Would you advise anybody to move down to London for a job that pays around £25,000 PA? Would one be able to survive on this pay (*taking into account mortgage payments/rent, bills, council tax, travel etc *).
What about property wise can a decent sized property (2-3 bedrooms) be bought on this salary? What areas of London would you advise someone to move to?
you got to be kidding! average house price in London now is £330K and theer is no way that you can buy that in this salary. even a studio flat in a decent area is above £200k range (well you can find one bedroom flat in some really nasty areas within 200K mark)
You will take home around £1500/m after tax and NI contribution... if you have a mortgage , lets say about 180K, then only the interest payment would be about £1000 (a rough figure of course coz it depends on what rate you are offered by your lender) now you do the maths that how you will travel, pay bills, EAT and pay council tax with £500 in ur hands.