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

Average monthly payment has risen by 61% since 2019, pushing borrowers into smaller homes or ultra-long loans

The monthly mortgage of a first-time buyer has soared by more than 60% to exceed £1,000 a month since the last general election, according to figures that underline the financial challenge facing Britons trying to gain a foothold on the housing ladder.

Over the last five years, the average mortgage payment for a typical first-time buyer in Great Britain has risen by 61% to £1,075 a month, up from £667 in 2019, according to the property website Rightmove.

Continue reading…   


Discover more from Stay Updated

Subscribe to get the latest posts sent to your email.


Leave a Reply