Homebuyers

Property prices are still rising at the entry level and as borrowing costs increase, the home ownership dream is even further out of reach The third Reserve Bank rate hike in a row has delivered a blow not only to mortgaged homeowners, but also to those hoping to break into the property market like Dani Hunterford and her husband.They have been saving for a deposit but have been left frustrated as another rate hike appears to put their homeowning dream out of reach again. Continue reading...

‘Least affordable’ areas mainly in London commuter belt, UK Finance finds, with Iran war not yet reflected in dataBusiness live – latest updatesUK homebuyers are facing the worst mortgage affordability pressures for almost two decades, although the “pain” is not being felt equally across the country, according to industry data.The banking body UK Finance said that at a nationwide level, initial mortgage repayments were typically swallowing up more than a fifth (21.3%) of a homebuyer’s gross income – the highest level since 2008. Continue reading...