‘Challenging times’ for homebuyers – mortgage affordability tightest since 2008

The ‘pain’ of mortgage affordability is not felt equally across the UK, UK Finance said (Joe Giddens/PA) - (PA Wire)

Mortgage affordability for homebuyers was at its tightest since 2008 last year, according to an industry body.

Homebuyers across the UK typically spent just over a fifth (21.3%) of their gross income on their mortgage payments last year, the highest level since 2008, UK Finance said.