Mortgage rates start to bite

June 21, 2005
Figures from the Woolwich have shown that homeowners are spending nearly a fifth of their monthly income on mortgage repayments. The average payment rose to £499 last month, 18.5 % of the average monthly wage. Mortgage repayments have risen by 11% a year in the last three years. According to the report, compiled from data on 1.3 million homeowners in …

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