Informed
Joined: 23 Mar 2009
Posts: 12
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| Posted: Thu May 14, 2009 11:36 am Post subject: Mortgage servicing costs lowest in 5 years |
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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. |
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