More pain for first-timers home buyers - 2004-03-16
First time buyers will begin crumbling under the pressure of higher mortgage repayments toward the end of this year, a new survey has suggested.
The C&G Housing Affordability Index, calculated from official figures for Cheltenham & Gloucester, one of Britain’s largest lenders, revealed young single buyers saw 35% of their take-home pay gobbled up by repayments at the end of last year - a sharp rise from 31% at the beginning of the year.
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