Mortgage payments reached their most affordable levels in over four years in the last three months of 2017, analysis has found.
Typical mortgage payments accounted for less than a third (29%) of homeowners’ disposable income in the fourth quarter of 2017, compared with nearly half (48%) in 2007, Halifax said.
It said the significant improvement in affordability had been driven by historically low mortgage rates, despite the first base rate rise in a decade in November.
