Housing becoming more affordable, says fixed rate mortgage provider Halifax
www.moneynews.co.uk > Mortgages > Housing becoming more affordable, says fixed rate mortgage provider Halifax
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Housing becoming more affordable, says fixed rate mortgage provider Halifax
Fri 20th Aug 2010
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According to the financial provider, 94 per cent of first-time buyers in the UK were not required to pay stamp duty between January and June 2010.
More than half of those polled said this was a factor that helped them to get on the property ladder for the first time.
Figures from Halifax also showed that about 80 per of first-time buyer mortgages were approved during this time.
Stephen Noakes, commercial director for mortgages at the company, said: "Whilst there are still challenges in raising deposits, other market conditions are more positive."
He said improving affordability means the proportion of a first-time buyer's wages that must go towards meeting mortgage payments is now below the 25-year average.
This comes after government figures revealed that house prices in the UK during June 2010 were nine per cent up on the previous year.
Click here for more mortgages news
Related News : Mortgages |
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Related News : Halifax |
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