Homeowners are set to spend the highest percentage of their income on their mortgage in decades after the average rate on home loans exceeded 6%.
Anyone taking on a new mortgage faces spending 25% of household income on their mortgage, the most since rates were 15.4% in February 1990, analysis by BuiltPlace said.
Even though mortgage rates were more than twice what they are now, loans are much larger relative to people’s incomes.
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Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
