Average mortgage for UK first-time buyer hits record high of £210,800

People able to buy homes previously beyond budget, aided by rising wages and looser affordability testsFirst-time buyers are taking out larger mortgages than ever before as rising wages and looser affordability tests allow them to buy properties that were previously beyond their budget.The average first-time buyer borrowed £210,800 in the year to September, a record high, according to analysis by Savills, the property agent. Continue reading...