Lowrateshelping loan levels recover
AFFORDABILITY: Mortgage affordability levels have remained significantly below the peak of 2007 almost a decade on, Halifax research has revealed. Historically low mortgage rates have been the main driver behind a recent significant improvement in affordability. However, there are seven areas where affordability has deteriorated including
Mole Valley in Surrey, Waltham Forest and Harrow. Mortgage payments are at their lowest as a proportion of disposable earnings in Scotland, Northern Ireland, North West and Yorkshire. In 2007, the average mortgage was over half of income.