Mortgage payments at 15-year low

Mortgage payments for new borrowers are at their lowest as a proportion of disposable earnings for 15 years, a study said today.

Typical payments for both first-time buyers and home movers taking out a new loan stood at 26% of take-home pay in the second quarter of this year, Halifax said.

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House prices feel the squeeze

House prices in the ITV Meridian region are likely to come under further downward pressure for the rest of 2012 from a widening gap as growth in the number of homes for sale outstrips potential buyers, a study said today.