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Mortgage servicing costs lowest in 5 years

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  • Mortgage servicing costs lowest in 5 years

    According to the Council of Mortgage Lenders (CML) the costs of servicing mortgage debt is at it's lowest in 5 years.

    Current figures show first time buyers are borrowing on average three times there income and 75% of the value of their homes, with average monthly interest payments equating to 15.1% of their income.

    For home movers, the average mortgage loan is £115,000 and interest payments equated to an average of 11.4% of income.
    Independent Mortgage Advisor, expert in residential, buy to let, holiday let, and refinance mortgages