WELL done to Martin Jones for being in a privileged position through hard work (CP online, 11-07-22).

There is perhaps though a need to be more circumspect as to his house purchase(s) achievement.

For the overwhelming majority of aspirant home-buyers it is no longer possible even if working, for example, 60 hours a week, 52 weeks a year, at a generous £15 per hour (£46,800 per annum).

The average British house price as at April 2022 exceeded £350,000 and on the Isle of Wight it currently averages £245,549 (source Rightmove).

For first-time buyers, according to The Halifax, average British house costs are £264,140.

Probably the mortgage Mr Jones initially received was strictly limited to an absolute maximum of three times his salary, plus one times that of his wife.

Financial Services Act legislation introduced by Mrs Thatcher’s government in 1983 eroded these fiscal controls.

There was also an essential requisite to be able to pay off the mortgage within 25 years.

Disgracefully, now 50-year mortgages are under government consideration.

No wonder there is such despondency among so many people and total lack of enthusiasm to work merely to survive, because of having to pay exorbitant rent, council tax, electricity, gas, water and travel costs with nothing after essential day-to-day expenditure, to show for their work efforts.

Mr Jones’s comments may not offend but they do appear to completely lack any understanding of the financial reality, predicament and despair for so many less privileged persons.

Read more letters sent to the County Press here. Do you have a view on this or any other subject? Send us a letter – under 350 words if possible - to editor@iwcp.co.uk