New research and analysis from Private Finance has shown
that once buyers have made the upfront purchase for their home, the ongoing
cost of ownership is broadly in line with levels seen in 1998. The independent mortgage broker revealed that in 2008,
the average borrower could expect their mortgage to account for two fifths
(43%) of their monthly income (if purchasing alone), compared to 31% of monthly
income in 2018. In terms of actual payments, the average borrower is now saving
£104 a month, with monthly repayments down from £804 to £700, a decrease of
13%. This is despite the average house price growing by £51,660 over the same
period. Read more on the Property Reporter website.
‘16 years later, I’m not unhappy’: the rise of Britain’s multigenerational
flatmates
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Fewer under-25s leaving home, and older renters being priced out of
ownership or solo renting, is fuelling a change in house-share demographics
When Nico...
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