> £300,000 divided by 30 years = £10,000 per year. So, a third of the 
> highest income available. And that's neglecting the fact that they 
> presumably charge you 80% APR or so on the loan...

Obviously you don't actually have a mortgage at the moment, otherwise you'd 
know roughly what the interest rate was, and that it's nowhere near 80%.

I thought you said you lived near Milton Keynes?

I searched on rightmove.co.uk for *detached* houses within 20 miles of MK, 
priced between 100 and 150 thousand pounds.  There were 178 results.  I 
assume you could find one you like, let's say for 125K.  DO NOT expect to be 
able to suddenly afford the same house your parents can, they have been 
working for several decades longer than you!  I see lots of young people 
falsely believe they somehow deserve the same value house as their parents!

Next I went to nationwide.co.uk to their "quick quote" page on mortgages. 
It seems they want a 20k deposit, followed by 20 years of paying about 700 a 
month.

Now I don't know about you, but saving up a 20K deposit, especially while 
living with your mum, shouldn't be too hard over a few years (that's what, 
300-400 a month).  I know my parents basically never went out or spent any 
money while living with their respective parents for several years before 
they could afford to get their house.

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