The proportion of homeowners who pay out more than half their salary on their mortgage has doubled in only two years, Bank research has revealed. The Times
About 4.8% of mortgage-holders pay more than 50% of their pre-tax income on mortgages, a survey published in the Inflation Report shows, up from 2.4% in 2005 and 2.7% a year ago.
More than one in three mortgagors now devotes more than 20% of gross income to repayments. The Bank said: 'Some households may be particularly sensitive to future changes in income or the value of their houses.'