Rightmove has done some calculations which suggest the average first-time buyer mortgage payment has risen by 61 since the last General Election…
Analysis suggests that those wanting to get onto the property ladder can expect to pay around £400 more per month for their mortgage than five years ago.
London house prices are typically higher than elsewhere in Britain and the average price tag on a first-time buyer property there is over half a million pounds, according to Rightmove’s data.Last week, the Bank of England base rate remained on hold but with Consumer Prices Index inflation having slowed to its 2% target, a base rate cut is still expected on the horizon.
“We hope that the next government can support first-time buyers with well thought out policies, which address the difficulties of saving up a large enough deposit and being able to borrow enough from a lender.” found that building more affordable homes, tackling homelessness and rough sleeping and reducing the number of empty homes were ranked by people as the top housing priorities for the next government.
“People’s experiences and priorities vary based on their position in the market. Renters want more focus on their priorities including raising housing benefit levels and managing the pace of rental growth, while also improving rights and protections.
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First-time buyer mortgage payments up £400 per month since 2019The average first-time buyer mortgage payment has risen by 61 per cent since the last election, according to Rightmove
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