Mmastodon WorldPolitics first seen 7 d ago, last 6 d ago, peak #2
First-time UK buyers now spend nearly a quarter of salary on mortgages
Original: The toll on first time buyers getting on the UK's 'housing ladder' has risen to the point where nearly a quarter of thei
First-time buyers in the UK are spending close to a quarter of their monthly salary on mortgage repayments, as higher interest rates and lenders allowing ever larger income multiples push affordability to breaking point. Commentators are highlighting the mounting strain on those trying to get onto the property ladder, questioning whether current lending standards are sustainable for young buyers.
Why now: Rising interest rates and worsening affordability are making homeownership an increasingly pressing concern in the UK.
UK first-time buyersUK housing marketmortgage lenders
Rank over time, top of the chart is #1. 9 snapshots from 6 d ago to 6 d ago.
Evidence
- The toll on first time buyers getting on the UK's 'housing ladder' has risen to the point where nearly a quarter of their monthly salary is spent on mortgage repayments, reflecting both interest rate rises & the ever rising income multiples 'allowed' on first time buyers'… · ChrisMayLA6@mastodon.me.uk · 16
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