General · 21 August 2026

First-time buyers pay less of wages for mortgage payments

Mortgage payments now take up about 32% of a first-time buyer's take-home pay, down from 45% in 2007. The change is helping make it easier for people to get on the property ladder, as house prices have risen more slowly than wages. Lenders are also now offering smaller deposits and longer repayment terms, some up to 40 years.

By BriefTea Editorial · 21 August 2026 at 12:41

Reported by BBC · How we write briefs

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Are other countries seeing this? Can I afford a longer mortgage? How much deposit do I need? What is the property ladder?

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