Mortgages now at their most affordable level in a decade according to Halifax

Mortgages in the UK have reached their most affordable level in a decade, according to new research from Halifax.

The latest Halifax Affordability Review reveals that homeowners spend less than a third of disposable income on mortgage payments, the lowest affordability in 10 years since market peak of 48% in 2007.

The significant improvement in affordability since 2007 has been driven predominantly by historically low mortgage rates, despite the first base rate rise in a decade last November according to Halifax.

Andy Bickers, Mortgage Director at Halifax, said: “This is a real boost for both those who already have a mortgage and those preparing to take their first step on to the property ladder. Improved mortgage affordability has been a key factor supporting housing demand and helping to stimulate the modest recovery that we are currently seeing.

“In recent months we have seen the number of first-time buyers and homemovers purchasing a home with a mortgage bounce back towards 2007 levels, and mortgage payments becoming a much smaller proportion of disposable income across most of the country will also support a heathy market with more choice and opportunity for buyers/borrowers.”

Read the latest Halifax press release 17th March 2018 ‘Most affordable mortgages in a decade’ in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Families to save hundreds of pounds through major homebuying overhaul

·        Buying or selling a home to be faster, cheaper, and easier under common-sense reforms ·        First-time buyers to save £710 on average, putting money back into people’s pockets ·        Proposals will halve number failed transactions, preventing last minute fall throughs, slashing weeks off the process and driving up standards across the board Hundreds of thousands of first-time…
Read More
Estate Agent Talk

Got a New Home in Nelson UK? Explore Stylish Furniture for Every Corner

Moving into a new home is always exciting, and if you’ve just settled down in Nelson, UK, now is the perfect time to furnish your space with stylish, functional, and long-lasting pieces. At AH Interiors Nelson, we bring you a wide range of modern and classic furniture that makes every corner of your home truly…
Read More
Breaking News

Annual house price growth steady in September

Annual rate of house price growth of 2.2% in September, similar to 2.1% seen in August Northern Ireland remained the top performing area with annual house price growth of 9.6% Outer South East weakest performing region, with 0.3% year-on-year rise   Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “The annual pace of…
Read More
Rightmove logo
Breaking News

Rightmove launches Online Agent Valuation to help agents connect with more vendors

Rightmove, the UK’s largest property platform, launches Online Agent Valuation, a new product for agents designed to give them more ways to reach prospective vendors. The consumer innovation delivers quality leads by connecting agents with home-owners who are serious about moving, but who would prefer to get a valuation from a local agent online. Rightmove…
Read More
Breaking News

September sees highest number of homes listed this year

September brings post-summer surge in home seller activity, with highest number of homes listed so far in 2025 The latest internal data from eXp UK has shown that September has delivered a notable surge in market activity, with the firm recording an average of 81 new properties listed every day over the course of the…
Read More
Estate Agent Talk

Looking into Colin Horan: A Trusted Estate Agent in Irish Real Estate

In the competitive and often unpredictable realm of Irish property, one name stands out above the rest: Colin Horan. With a sterling reputation forged over years of committed service, strategic insight, and unwavering ethics, Colin distinguishes himself as a trusted partner for buyers, sellers, and communities alike. This read delves into his background, philosophy, approach,…
Read More