According to data from UK Finance, first-time buyers with a combined household income of less than £50,000 are putting down around 194 per cent of their annual income down as a deposit.

‘Bleak’ warning issued to any UK household with income less than £50k

In 2021, 57% of first-time buyers had household incomes of less than £50,000, but by 2023 this proportion had fallen to 46%, UK Finance said.

High house prices and mortgage rates squeeze affordability for lower earners

Borrowers with patchy credit records, the self-employed or those looking for offset deals are left with comparatively few options, despite the recent hike in overall mortgage product numbers, brokers have suggested.

Brokers bemoan product ‘gaps’ as numbers hit 15-year high ‒ analysis

One broker said the low-rate high-fee mortgage products could be “the next big mis-selling scandal”.

Low interest high-fee mortgage deals could be ‘the next big mis-selling scandal’

Brokers share their views on the latest wave of rate cuts

Rate cuts nothing more than a “genital measuring competition”

Expert claims “the mortgage price war is over”

Nationwide report: House prices, unchanged in September

Major lenders announce cuts as markets price in lower interest rate predictions

Mortgage rates fall across the board

Nationwide is the latest high street lender to reduce mortgage rates with cuts across its switcher range for existing borrowers.

Nationwide lowers switcher mortgage rates

Brokers discussed the pros and cons of longer term mortgages.

Longer mortgage terms becoming commonplace, brokers say

Home buyers’ worries about rising living costs persist and sellers are open to negotiation, housing market experts said.

Annual rate of house price growth slows as rental price increases accelerate

Buyers’ worries about rising living costs persist, while sellers seem more open to negotiation

UK house price growth slows as rental price rises accelerate

Rental prices kept climbing in March too, as the squeeze on tenants continued.

Average UK house price dipped to £287,506 in February

UK house price growth eased to 5.5% in the year to February, meaning the average home cost £287,506, Land Registry data shows. This is a 1% fall on the 12 months to January and a 3.5% slide on the year to December. The average home is £16,000 more expensive than a year ago. House price inflation…

House price growth eases in February: Land Registry

Brokers have emphasised the importance of getting a tax return completed as early as possible, and argued that quality accountants are worth the expense.

Accountants ‘worth the money’ for self-employed brokers

House prices in the UK have recorded a seventh consecutive monthly decline, with prices down 3.1% year-on-year in March, Nationwide’s house price index for March has shown.

House prices drop for seventh consecutive month amid sluggish market activity

Inflation in the UK was 10.4% in February, the latest data from the Office for National Statistics (ONS) reveals. February’s figure is up from the 10.1% re

February inflation rises to 10.4%: ONS

The Office for National Statistics (ONS) has revealed that the Consumer Price Index (CPI) has gone up to 10.4% in the 12 months to February 2023, up from 10.1% in January.

LIVE: Industry reacts to inflation rising to 10.4%

Average UK house prices rose by 6.3% in the 12 months to January 2023, down from a 9.3% increase in December 2022, with the average house price standing at £290,000, £17,000 higher than a year ago.

House prices still up 6.3% YoY in January 2023, but slowing from December 2022 figures - ONS

Following the Land Registry January HPI that has recently been published, Newspage asked brokers and developers for their thoughts and shared them with IFA Ma

Land Registry HPI (Jan) - reaction from property experts

Inflation in the UK was 10.4% in February, the latest data from the Office for National Statistics (ONS) reveals. February’s figure is up from the 10.1% reported in January but down from a peak of 11.1% in October. The largest upward contributions came from restaurants and cafes, food, and clothing,…

Inflation increases to 10.4% in February: ONS

Alexander Southwell Mortgages is a mortgage brokerage that offers a range of FEE FREE mortgage-related services in the United Kingdom. We provide helpful information, guidance, and tools to customers who are looking to obtain a mortgage or remortgage their existing property. Our focus is to help people find the right mortgage for their needs. It provides a range of tools and resources to help customers assess their financial situation and determine what type of mortgage would be the most suitable for them. This includes mortgage calculators, mortgage guides, and an affordability calculator. AS Mortgages is committed to providing its customers with a high level of service. We have a team of mortgage experts who are available to answer any questions that customers may have about mortgages or the mortgage application process. Customers can contact the team by phone, email, or live chat.

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