overloaded on First-time buyer mortgages
The Council Mortgage Lenders (CML)
revealed that First-time buyers overloaded themselves to recorded
data measures with their mortgages decemebr period. Homeowners
borrowed an average 3.31 times what they are earning.
Figures estimated that 17.9 per cent
of spendings that homeowners are making is being made towards
paying the mortgage repayment.
First-time buyers have passed the threshold
on the stamp duty fee, 41 per cent of first-time buyers who are
buying homes under £125 thousand pounds last decemebr were
saving this tax fee.
From November to Decemebr CML found
out that gross mortgage lending decreased 14 per cent, however
at £28.6 billion secured loans was at the top point Decemebr
CML director, Michael Coogan spoke
further, "The monthly figures clearly show the cumulative
effects of the gradual worsening in affordability for first-time
buyers - and the ever-rising proportion of them who are caught
by stamp duty."
In the year 2006 two thirds of
mortgages were Fixed-rate mortgages. CML investigates, though
it summed extra the changes of coming rates and the total of Variable
and Fixed rate deals may decrease and become un popular.
Free Mortgage Enquiry