Tuesday, Dec 12, 2006

Rising house prices force first-time buyers to borrow more

Free Help Advice: Rising house prices force first-time buyers to borrow more

According to the Council of Mortgage Lenders (CML), the financial strain of buying a home is increasing with time and first-time buyers are being forced to borrow more to get onto the property ladder. CML said that in the month of October, first-time buyers had to borrow a record 3.27 times their incomes to take out a mortgage and those moving house had to borrow a near-record multiples of 2.98 times their income.

Posted by matt @ 06:24 PM (520 views)
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2 Comments

1. Distant_daz said...

3.27 times? Are these people taking the p**s? More like 4-5 times.

Wednesday, December 13, 2006 09:55AM Report Comment
 

2. Surfgatinho said...

YAWN!

Wednesday, December 13, 2006 07:56PM Report Comment
 

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