Mortgage of first-time buyer tops £1,000 a month as house prices and rates rise

Typical first-time buyer mortgage payment jumps 61% outstripping people's earnings

First-time buyers now face paying £227,757 for a home, rising to more than half a million pounds in London, Rightmove said

Mortgage blow as repayments rise by £400 a month 'surging interest rates'

New homebuyers should expect to pay around £400 more per for their mortgage than they would have five years ago, according to new research.Analysis from Rightmove suggests that the average person trying to get on the property ladder for the first-time buyers has seen their repayments rise by 61 per cent in the last five years.Since the last General Election year in 2019, homeowners have seen their mortgage payments jump from £667 to £1,075 a mon…