First time buyer Heena Patel, 29, says moving back in with her parents would be a 'huge backward step'
, we are both being asked to go into work a little bit more so we have increased commuting costs too.”
Some of Britain’s biggest lenders have made mortgage rate cuts, offering some relief to struggling homeowners. However, some experts warned thatTheir raised outgoings means Ms Patel and her partner Demi D’Cunha, a social media editor, are having to cut costs elsewhere, such as on holidays. They had also hoped to celebrate their wedding soon.
“We’re considering extending our mortgage terms but our mortgage adviser was against that. We’re also thinking about switching to interest only, but it feels like you’re paying into nothing.”Mortgage rises appear to be impacting house prices, with asking prices on Rightmove now falling at the fastest rate since the summer of 2018.
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