Mortgages at most affordable in 14 years

By Natasha Adamson

Property purchasers and existing home owners are currently faced with the most affordable mortgages in 14 years according to new research.

Two towns in Northern Ireland made the top ten list of UK locations were mortgage payments are at their lowest as a proportion of disposable earnings. Omagh and Limivady are the two Northern Ireland towns that are most affordable in terms of buying a property, with mortgage payments accounting for less than 15 per cent of disposable earnings.

On average mortgage payments in Northern Ireland and the rest of the UK account for 27 per cent of a new borrower's income. In the least affordable areas, all in London, mortgage payments account for 50 per cent of the borrower's disposable earnings.

If you are buying, selling or remortgaging a house in Northern Ireland and require a property solicitor to handle the conveyancing for you, contact Wilson Nesbitt in Belfast by calling 0800 840 9290.

Or submit your contact details online for a call back by clicking here.