Lowrateshelp­ing loan lev­els re­cover

Yorkshire Post - Property - - PROPERTY NEWS -

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.

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