Where you can afford to buy without breaking the 30pc rule
“This is a problem that’s been many years in the making. That makes it a very big ship to turn around.”
Lucy Dean and Les Hewitt
T
here’s a loose rule that dictates whether a mortgage is affordable: if you’re spending more than 30 per cent of your income covering it, there’s a good chance you’re flirting with mortgage stress.
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Lucy DeanWealth reporterLucy Dean writes about wealth management, personal finance, lifestyle and leisure, based in The Australian Financial Review's Sydney newsroom. Connect with Lucy on Twitter. Email Lucy at l.dean@afr.com
Les HewittSenior interactive graphics designerLes Hewitt is senior interactive graphics designer for The Australian Financial Review. Email Les at lhewitt@nine.com.au
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