Lenders have to assess whether or not you can afford a mortgage, and in recent years this has meant ‘stress-testing’. That’s not just how you react to the spectre of 3 or 4 prime ministers in the space of less than a year or a commute on the M25; it’s whether you’d be able to make your monthly repayments if interest rates went up still further. And there’s the problem for first-time buyers (and we’re probably talking under-40s, not under-30s now), your income has to be up to what might still happen, not just what is happening. Couple that with the need for a 15% deposit if you want an affordable rate, and you can see the extent to which they’re really up against it. With property prices as they are that is; so, something’s got to give, I’d say.
“Stocks surge and yields stabilise as Trump tariffs paused”
“The reason our stock market is so successful is because of me. I’ve always been great with money, I’ve always been great with jobs, that’s what I do”, said the man himself about (of course) himself. And, yes, one tweet, if we’re still allowed to use that old Woke term, on Truth Social can indeed send markets firmly up as well as down.
