First-time buyer affordability concerns outweigh rate worries

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A survey found that monthly mortgage affordability is the leading concern for prospective first-time homebuyers in the United Kingdom. More than half of respondents cited repayments relative to their wider financial commitments, ahead of concerns about obtaining mortgage approval.

More than half of prospective first-time buyers cite monthly mortgage affordability as their primary concern rather than securing mortgage approval, according to recent survey data. The research found that 52% are primarily worried about monthly repayment costs relative to their overall financial commitments. The post First-time buyer affordability concerns outweigh rate worries appeared first on PropertyWire.