An article in the Daily Mail has highlighted that first-time buyers are taking out mortgages that are, on average, 3.68 times their annual income. These figures are the highest since records began in the 1970s. It seems not just first-time buyers are borrowing in excess, as Bank of England figures show that a quarter or mortgages are for 4.5 times someone’s salary or higher, this is compared to a fifth three years ago.

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