Home buyers borrowed £11 billion in November up over 5% on the month reflecting a stable market and aspirations for home ownership.
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Category Archives: Mortgage Affordability
The number of first time buyers reaches an all time high last year with more people opting for longer term mortgages of 30-years or more.
Data from the CML shows the number of loans to homebuyers is 8% lower for October indicating a slowdown in the UK market.
The cost of a mortgage as a proportion of household income has reached an historic low although there is no increase in house purchase activity.
The latest index from the Nationwide shows no change in house prices as demand remains subdued as a home purchase is less affordable.
The government has closed the Help to Buy mortgage guarantee scheme that has helped 86,341 first timer buyers on to the housing market.
Mortgage age limits for older borrowers increase from age 75 and over due to changing demographics and people working longer.
Data from the CML has revealed older borrowers have higher levels of equity to debt with repayment rather than interest only mortgages.
One in six families have been offered a smaller mortgage from a lender due to their childcare costs adding to parents stress and anxiety.
Lending to first time buyers and home movers decreased in July and recovered in August despite fear of a crash after the Referendum.