A typical home is 7.1 times average earnings which have risen 2.7% compared to house prices up 16.8% since the start of the pandemic.
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Category Archives: Mortgage Affordability
Winchester replaces Oxford as the least affordable city to live and work with the highest average property prices now 14 times annual earnings.
Home buyers delayed making new purchases due to uncertainty of the general election result with 10% fewer mortgage loans agreed.
The national parks are known as Britain’s breathing spaces and home movers pay £127,000 more to live there than surrounding counties.
More than half of residential mortgages have terms of up to 40 years lowering repayments but total interest costs are much higher.
Deposits for first time buyers to purchase their first home have increased by 52% over the past decade according to the Halifax.
With the upcoming school holidays two in five grandparents will provide childcare with many paying for treats and activities.
Changes to mortgage affordability rules by the regulator would allow homeowners to switch to cheaper deals.
Numbers of first time buyers have reached 372,000 accounting for the majority of home purchases since 1995, says Halifax.
Darlington Building Society is offering a new mortgage deal with six times your annual salary if you work in the right industry.