Tenants in the UK are now spending more than a third of their income on rent, with rental prices coming it an average of £868 a month.
For decades, as house prices and the stock market rose and fell, then rose even higher, an interest-only mortgage was the affordable way to get on the housing ladder or to upgrade from a starter flat to a family home.
The UK’s housing market may be on the decline once again, as figures from the Land Registry showed a 0.6% slump in March property prices.
It may be best known for its concrete cows and roundabouts, but Milton Keynes has been named as the UK’s most popular destination for first-time buyers.