First-time buyer mortgage payments could be around a fifth lower than average rents if buyers have a 20 per cent deposit saved
Read MoreFirst-time buyer mortgage costs are ‘20 per cent lower than rents’ with a £50,000 deposit
Tag: mortgage payments
First-time buyers paying extra £4,200 a year on their mortgage
First-time buyers in the UK are facing paying an extra £4,200 a year on their mortgage with increased mortgage payments, which now average £940 per month compared to £590 five years ago, according to latest Rightmove research.
Read MoreBuying cheaper than renting despite tough mortgage stress tests
Zoopla says first-time buyer mortgage payments (an average £1,038 per month) are 20% lower than average rents (£1,248 per month) across Britain.
Read MoreThe unusual mortgage payment trick that could clear debt five years earlier
Households may be able to save tens of thousands of pounds in mortgage interest payments by changing when they make their repayments.
Read MoreMortgage repayments eat into a third of first-time buyers’ pay
Homebuying has been branded ‘prohibitively expensive’ as it emerged a first-time buyer must devote 36% of their take-home pay to fund their mortgage repayments.
Read MoreBig rise in numbers paying mortgages into their 70s
There’s been a big rise in the number of people taking out mortgages with a term of 35 years or more, which will see them paying off their loans well into their 70s.
Read MoreGen Z pay double in mortgage payments compared to older generations
High interest rates and rising house prices mean Generation Z are facing mortgage payments twice as high as the generations before them, new analysis has shown.
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