More cheap mortgages on the way

July 28, 2016 11:02 am Published by

The financial information service said the cost of all types of fixed rate mortgages have dropped on average since January.

The lower costs were driven by competition.

Even though loan costs have fallen, many potential first-time buyers still struggle to raise the funds required.

Government figures released last week show that the number of first-time buyers in England has fallen by a third in the past decade.

A report from UK’s largest mortgage lender shows that house prices are on average 12.5 times earnings in the most unaffordable areas of the country.

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This post was written by Debbie Brown

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