Homeowners risk paying third of income, double ‘safe limit,’ on repayments 🔴 With interest rates at 3% and mortgages rates stabilising at a higher level, homeowners will be paying 30% of their income on their mortgage repayments
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The ratio of income to loans has largely been around 15% since the noughties but this changed briefly in 1990 He tweeted: “The increase in mortgage repayments will be significant – and extending the mortgage term can only help a bit when the outstanding term is 20 years or over.”
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