UK Cost of Living

[TRADERguy]

I'm applying for a trading position in a UK bank. Can anyone give me an idea of the cost of living so I can judge if they are offering enough compensation? btw- I know it's expensive, I just need to know how expensive. I'm currently living in the suburbs of Chicago. The job is in the City and I'll need a one bedroom apartment, renting at first.



Thanks

 

[Trader333]

A friend of mine who is working abroad has rented out their 1 bedroomed flat which is in Earls Court. The approximate costs are as follows:

Rent = £750 per month.
Electric = £20
Gas = £25
Water = £25
Council Tax = £75 (This includes a single person discount)

There may also be a service charge of around £25

So the total ( and this is approximate) = £920

This will vary on the area you rent and the quality of the appartment.


Paul

 

[ewilcox]

Also should add on another £5 a day for travel expenses - i.e. per month £100 or so. (This assumes you are using the underground). If you plan to drive then bear in mind the price of petrol in the UK is massively higher than the US. In my experience, and i've lived in london now for 3 years, take what you think you'll need to live on - double it - and then you might have something left every month. London is unbelievably expensive to live in. Which firm are you applying to by the way?

 

[JTrader]

You could always look to buy a place to live. My cousin purchased a one bedroom flat somewhere in London last year for the bargain price of £210,000!

 

[al76]

If anybody choose this option don't forget the interest rate increase, that could be an extra cost but they have good mortgages out there.