First time buyers are borrowing more and more to get themselves on the property ladder, according to figures from the Council of Mortgage Lenders.
The CML survey shows that first-time buyer income multiples reached their highest level ever in May at 3.37 times the average first-time buyer income, up from 3.33 in April.

Homeowners face the highest mortgage rates for six years after the Bank of England decided to increase interest rates to 5.75% this week.
This has prompted concern from debt counsellors and property experts that the rise will push struggling homeowners over the edge, forcing them further into debt, and raising the prospect of increased mortgage arrears […]

Average asking prices for houses in London are less then the national average for the first time in the past six months, which may be a sign that the house price boom is nearing its end.
The average house price rose by 0.8% nationwide this month, while the Londons property prices rose by just 0.7%, with […]

With the UK increasingly faced with a mountain of debt last month the Bank of England announced that the countrys consumer debt had reached a massive £1trillion many are inclined to blame people not managing their money properly, or being shopahoics.
In addition, some point the finger at householders who have overstretched themselves to get a […]

For the first time, the amount of money owed by UK consumers has reached £1 trillion  The Bank of England says that consumers owe more then £1,000 billion on loans, credit cards and mortgages.
The Bank of England says that around 80% of personal debt is secured against homes, which raises the risk of repossessions for […]

According to analysis from Experian, further interest rate rises, combined with a March’s rise in consumer price inflation to 3.1%, could lead to an increase in bad debt and repossessions.
According to Experian’s MD of economic forecasting, DR Neil Blake:
Not only will interest rate increases have a dampening impact on economic growth and inflation but there […]

The number of new mortgages dropped slightly during March, which may be an indication of a slowing housing market, according to the Bank of England.
The total value of mortgages in March was £9.9bn, compared to the adjusted figure of £10bn for February. 111,000 new mortgages were approved in March, compared with 117,000 the previous month.

Nationwide is predicting another interest rate rise in May, due to the robust growth of house prices in the UK this month, though it points out the underlying trend towards a cooling of the market.
Nationwide latest monthly survey reveals that house prices rose by 0.9% in April, compared with 0.5% in March. This represents the […]