‘Challenging times’ for homebuyers – mortgage affordability tightest since 2008

‘Challenging times’ for homebuyers – mortgage affordability tightest since 2008

Homebuyers across the UK typically spent just over a fifth of their gross income on their mortgage payments last year, UK Finance said.

UK mortgage affordability hits lowest level since 2008

UK homebuyers are experiencing the most challenging mortgage affordability conditions since 2008, with initial repayments consuming 21.3% of gross income on average. Regional disparities show London commuter belt areas facing the highest burden, while Scotland dominates the most affordable locations. The post UK mortgage affordability hits lowest level since 2008 appeared first on PropertyWire.