:shock: holy f**k, now that is substantial!!!!
i was thinking of substantial as something like £30k in savings & investments.
though i suppose its whatever the individual thinks is substantial to them, and their cost of living.
not necessarily.
debt free with £5k savings - could mean just about surviving on each months income, and having to scrimp & cut-back to stay debt free...
whereas £300k mortgage can mean that you've got enough income coming in to comfortably pay the monthly payments, and you've still got enough to spend freely, and add to your £60k savings if you wish.
i'd rather be in the second scenario, even though as an accounting exercise it might sounds worse.