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.


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.