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|'''Deposit''' || This assumes a 5% deposit</br></br>
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| '''Mortgage Year''' || Typical mortgage repayments on the base mortgage rate. For those living in leasehold properties such as apartments, there will be a £2000 to £3000 annual fee on top of this.</br></br>
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|'''Percentage of Wage''' || The percentage of wage that is consumed in mortgage repayments. This is calculated on a single mortgage payer, whereas in many cases a property will be bought by a couple. However it is based on gross income before stoppages, so even with two people buying a property a very large percentage of their income would be spent on the mortgage. The level of mortgage repayment leaves no leeway for change of circumstances such as one party of a couple losing employment or their hours being reduced. Our work place environment is highly unstable at the moment, imposing a large risk on lenders.
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