Halifax suggests fixed rate mortgages have lowered in price
www.moneynews.co.uk > Mortgages > Halifax suggests fixed rate mortgages have lowered in price
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Halifax suggests fixed rate mortgages have lowered in price
Mon 28th Feb 2011
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Martin Ellis, housing economist at the company, claimed monthly mortgage costs have nearly halved since 2007, when such expenses were at their peak.
He explained that during that time half of a first-time buyer's income would typically be used to pay their home finance deal.
Mr Ellis's remarks were made following Halifax research showing properties in major UK cities have become more affordable in recent years.
The study indicated house prices in the south of England have tended to outperform other areas of the UK.
Commenting on this trend, the Halifax representative said: "The higher performance of the housing market in southern England over the last three years reflects the stronger economic performance of this part of the country."
The company recently announced the launch of two new mortgages at up to 60 per cent loan to value - a tracker at 2.49 per cent and a fixed arrangement at 3.14 per cent interest.
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Related News : Halifax |
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