House price affordability in London has reached a high of 14.5 times earnings and is well above the capitals fifteen-year average.
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Category Archives: Mortgage Affordability
Buying a home will cost 46% more in a national park as homeowners can enjoy easy access to the great outdoors and beautiful countryside.
Number of home buyers taking out a mortgage in London is up 6% in the second quarter 2017 with strong demand from first time buyers.
Homebuyers can expect tougher affordability tests from lenders when applying for mortgages as Bank of England acts over easy borrowing.
Nearly one in three second steppers require over £20,000 in financial support from the bank of Mum and Dad to buy their next home.
For the second quarter in a row the number of home buyers are lower in London due to restricted supply and affordability.
Nationwide’s index has recorded the second monthly fall in house prices with homeowners feeling the pinch due to the economy.
A quarter of all young Britons are certain they will never own a home and half think it is as harder than ever to get on the property ladder.
Home buyer borrowing in London reduces 5% or £310 million in the final quarter of 2016 continuing the downward trend for the capital.
Significantly lower interest rates has improved mortgage affordability across the country since the financial crisis according to the Halifax.