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.

✓ Verified against the source · 60 words · 40 sec

Get the app

More briefs

BusinessNorthern Ireland saw UK's biggest rise in disposable income during 2024 GeneralProposed London datacentre could emit 1.2m tonnes of carbon a year GeneralFrench police get more effective at stopping Channel boat crossings, UK says PoliticsBurnham's cost of living plans face 5.1% borrowing spike GeneralApple Music to label songs made with AI later this year UKLewes rail line shut until at least Wednesday after derailment Browse all stories →