London home buyers need £35k higher income for mortgage

UK

2022/09/15

It’s predicted first time buyers will need to earn £12,250 more to afford a home as mortgage rates are set to be hiked up further this year. Meanwhile, hopeful buyers in London will need ↑ £35K yearly more income to take out a loan on the avg property.The central bank set the base interest rate at 1.75% in August, marking the biggest single increase in 27 years.