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UK Mortgage Payments Hit Highest Level Since 2008

Mortgage costs relative to income in the United Kingdom have risen to their highest level in years. The latest data published by mortgage lender Nationwide Building Society Friday (Jan. 13) revealed that in the final quarter of 2022, first-time buyers were spending on average 39% of their take-home pay on mortgage repayments, the highest level […]

Britain’s Housing Market Is Flashing Red and Sunak’s Tories Are Scared

(Bloomberg) — Every Conservative leader in living memory has made the same basic promise to UK voters: work hard and you will earn more, buy a bigger house and one day pass it on to your children. Thirteen years after the party returned to power, some allies of Prime Minister Rishi Sunak fear the dream is dying. Read […]

Tell us: are you struggling with the process of buying a house in the UK?

We would like to hear from people trying to buy yet struggling to afford rising rents in the meantime, or those experiencing issues with getting mortgages approved As UK mortgage approvals have fallen to their lowest level since 2021, and as mortgage rates continue to rise, we would like to hear from people who are […]

First-time buyers spend 39 per cent of take home pay on a mortgage – Nationwide

Homes for first-time buyers are at their most expensive as a proportion of take-home pay since the financial crisis. The proportion of monthly income that first-time buyers are having to put towards mortgage repayments is returning to levels last seen in the 2008 financial crisis, according to Nationwide. Nationwide, the UK’s third largest lender has […]

The UK may avoid a recession for now but it won’t feel like it for many

Jeremy Hunt is not getting carried away by November growth, and monthly GDP moves can be erratic UK economy grew by only 0.1% in November Business live updates: UK may avoid 2022 recession In normal circumstances the fact that the UK economy eked out a bit of growth in November would be of little relevance, […]

UK economy grew by only 0.1% in November

Figure comes as people began Christmas shopping, while World Cup gave pubs and bars a boost UK may avoid recession but it won’t feel like it for many Business live updates: UK may avoid 2022 recession The UK economy unexpectedly grew by 0.1% in November as consumers headed to the shops in the run-up to […]