Utter garbage once again. Eight times your salary?
Yeah right, if that's the case the clowns applying for a loan that size are idiots, and those offering loans to people asking for them are equally as bad. The only difference is that they end up with the house when you default!
The thing to remember here Nik is that you should buy what you can really afford, not what you'd really like to buy surrounded by lots of other monthly obligations that you can't afford. Oh and then blame the interest rate or the Government for your own financial difficulties.