Building more homes Contents
Annex 1: Mortgage affordability for first time buyers
1.Capital and interest payments as a percentage of income have decreased for first time buyers since 2008:
Table 9: New mortgage affordability, UK first time buyers
Year |
Interest payments as a percentage of income, median |
Capital and interest payments as a percentage of income, median |
|
2005 |
16.5 |
21.6 |
|
2006 |
16.8 |
21.9 |
|
2007 |
19.4 |
23.8 |
|
2008 |
19.6 |
24.0 |
|
2009 |
14.9 |
20.9 |
|
2010 |
13.3 |
20.0 |
|
2011 |
12.8 |
19.6 |
|
2012 |
13.2 |
19.8 |
|
2013 |
11.8 |
19.3 |
|
2014 |
11.6 |
19.4 |
|
2015 |
10.1 |
18.5 |
Source: Data provided by the Council for Mortgage Lenders