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Okay, so at present, the APR on a staff mortgage is 4.6%. That means that a mortgage on a £120k property would cost £475 per month interest-only, or £684 per month paying off interest and capital over 25 years.

Furthermore, the value I can borrow is 4x my own gross salary (which comes out at £105k) plus 1.25x Naomi's salary. So she'd only have to be earning 12k for us to be able to afford a place worth £120k. Which is enough to get a decent two bedroom flat, or a less-than-decent semi detached house that needs a bit of work :o)

Fun fun :o)

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Definitely buy if you can afford it - and not just for financial reasons, it feels really good to own your own place. Just nice to have a place to call your own, even if the bank owns the vast majority of it.

And I'm sure I don't need to tell you that an interest-only mortgage is a really dangerous idea given your spending history ;)

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