Mortgages 'n' that.

According to the Abbey mortgage calculator, La and me can borrow 48k with a 5% deposit. I calculated the deposit to be £2400 which leaves an amount of £45,600 (less interest).

That means we pay 47k over 25 years
That means we pay 1900k a year
That means we pay £160 a month...

but we pay £525 a month in rent!

I we were to pay the bank £525 a month however for the next 25 years, that would mean we could borrow £157k!!

ARGH!

Woe for bloody banks!