Tuesday, April 3, 2007
Some interesting data
First-time buyers hit by double whammy New first-time buyers face double whammy of house price and rate rises,, higher house prices alone add £75 to typical first-time buyer monthly costs compared to last year. Interest rate increases bring this up to almost £120. Locking into a fixed rate loan this time last year would have saved a typical first-time buyer £170 to date, with further monthly savings of £50 at current mortgage rates.More first-time buyers choose longer-term and interest-only mortgages which can cut more than £300 off monthly payments.