Expert claims first-time buyers struggling with mortgages by Finance News Bulletin

Published: 05/09/07

UK first-time buyers are more and more burdened with the cost of their mortgages, new research has revealedThe latest Woolwich Affordability learn, which analyses the dilemma faced by borrowers, showed that some Londoners in their 20s now splash out 50 per cent of their sum income on their mortgagesFurthermore, the average proportion of profits paid by 20-somethings on their mortgages stood at 324 per cent in June, contrasting with the 20

1 per cent for all borrowers, which is in itself the highest ever recordedOn average, first-time buyers exhausted £586 per month on their mortgages in June, a £233 per cent go up in the last half a decade, figures that the corporation refers to as "amazing"Andy Gray, head of mortgages at the Woolwich, commented: "For those lucky enough to be on the ladder, the data suggests that in sure areas of London they are already stretchedHowever, the Bank of England's monetary policy group is set to get together today, with a one-vote swing in favour of exciting the base rate of interest all that is required to see them raised

Expert claims unparalleled buyers struggling with mortgagesNone of the in order on this website is intended

Visit original article: