Solo first-time buyers face many obstacles when attempting to climb onto the property ladder. Not only must they stump up a house deposit by themselves, but also the monthly mortgage repayments.
But it’s not all doom and gloom for those going it alone. New research has identified the 10 most affordable areas in Britain for those on a single income, based on the proportion of a monthly wage that must be set aside for mortgage repayments.
Top of the list is Sunderland, where the average mortgage repayment on a one-bedroom flat equates to just 9.2 per cent of the median monthly wage in the area – 3.5 times less than the average for England and Wales (33 per cent).
Coastal North Tyneside places second…