I am 28, my gross salary including bonus is 100k. Im about to sign off on a 500k mortgage. am i crazy?

On a scale of 0-10, I'd say you're 7 out of 10 nuts.a) Property prices aren't increasing like they used to.b) You're locking yourself into golden handcuffs.c) Is your job sufficiently secure to let you sleep at night with a £0.5M mortgage (I'd wager not?)d) Think of the interest you're paying! Why not save up and buy later?

Having said the above, I'm a very risk averse individual.

As our COO says, 'he likes staff with big mortgages' - wonder why he says that...?

Phil, your balls are massive and you are an amazing person. You must be a hell-of-a-guy to be doing so well. If only I could be more like you.Is that what you want to hear because you are clearly not looking for advice.And in reality no, you are not nuts. If you can make the repayments this is likely to be a good long term investment. Property prices ARE in fact rising like they used to, higher than for the past four years in fact.

whats the standard? 3.5 times?

Hmm, well... let's look at the facts again.1. A 5 x (salary+bonus) mortgage. That's big, irrespective of salary.2. 100K at 28? VERY well done, but can you rely on what is, lets be honest, a huge income for your age continuing into the future?3. Is your bonus guaranteed? Will it be as much next year as it was this year?On the other hand:You can always sell if it doesn't work out.

I've got nuts too!! Me too!33, 140k, 315k mortgage. Please look up to me! Even if my nuts are a little smaller than Mr. £0.5m.

where do you guys work? i want a job that pays £100K+ too

Sorry guys, why does everyone make such a big deal about the salary when its perfectly in the norm for my age group?Haivng joined a big 4 at the age of 21, now 8 working years laters, and always promoted on time has made me a senior manager - on 83 plus 17 bonus and bens. How is this trying to show off / measuring balls??This is the average salary in all big 4 - im nothing out of the ordinary. Why all the fuss?

yes, you are nuts. hope you have signed on to a Fixed Rate!

Methinks this guy is trolling now.

Phil,You are doing very well in your career. It's just that, irrespective of whether you were showing off or not, there is a certain lack of maturity apparent in your question. You'll acquire it with age.