Pounds 106,000 for First Mortgage

Daily MailJune 14, 2006

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Summary


FIRST-TIME buyers are being forced to take out the biggest mortgages since records began, according to figures released yesterday.

Would-be homeowners face taking on a debt of typically Pounds 106,400 to make their first step on the housing ladder.

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Extract


Pounds 106,000 for First Mortgage

That is nearly Pounds 12,000 more than they would have needed to borrow a year ago.

First mortgages are typically 3.2 times t...

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