£1500 for the mortgage, plus bills, council tax, land rent, home insurance, repairs, etc... that is around £2000 per month not counting food, travel, clothes and entertainment.
So realistically you need to earn £3000 after tax to be able to afford it, which translates to a pre-tax salary of £50k.
We are lucky to earn more than that but the vast majority of people I know would not be able to do it.
We barely feel middle class here, I don't even own a car.
That is correct, however when you apply for a mortgage the bank doesn't really add both incomes equally and the only reason we were able to borrow £300k is because I earn more than £50k.
Also, interest rates are extremely low at the moment and we will be paying only around 4%.
I prefer not to think what will happen if the BOE needs to raise interest rates.
Additionally if we want to have kids, that's another £12k per year per kid for a nursery if my gf wants to keep her job.
I never earned this much in my life and I never felt to financially insecure at the same time.
So realistically you need to earn £3000 after tax to be able to afford it, which translates to a pre-tax salary of £50k.
We are lucky to earn more than that but the vast majority of people I know would not be able to do it.
We barely feel middle class here, I don't even own a car.