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Evening Standard

Business

Greg Pitcher

London first-time buyers spend two-thirds of take-home pay on mortgage payments — the most in 33 years

London Nationwide United Kingdom

First-time buyers in London are now shelling out two-thirds of their take-home pay on monthly mortgage bills – the highest level for 33 years – data has revealed.

The figures from building society Nationwide show that people joining the property ladder in the capital at the end of 2022 could expect to hand over 67 per cent of their net income to their home-loan provider.

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