Mortgages most affordable in a decade

23rd March 2018

Mortgages most affordable in a decade

Mortgage payments reached their most affordable levels in over four years in the last three months of 2017, analysis has found. Typical mortgage payments accounted for less than a third (29%) of homeowners’ disposable income in the period, compared with nearly half (48%) in 2007, Halifax said, driven by historically low mortgage rates. Borrowers at the end of last year were repaying on average £669 a month from a £2,309 take-home wage. Mortgage payments as a proportion of disposable earnings are the highest in the country in London, at 45%.

The Guardian (16/03/2018)   The Independent (16/03/2018)