Mortgages for new UK first-time buyers up ‘nearly £200 a month’ on a year ago

Rightmove says rise due to higher home loan rates and record asking prices for properties

New first-time buyers are typically paying nearly £200 a month more on their mortgage than a year ago because of a combination of higher home loan rates and record asking prices for properties, new data shows.

The figures from property website Rightmove underline the challenging conditions facing those hoping to get on to the UK housing ladder, with separate figures this week indicating that house prices have resumed their upwards march at the same time that average rents are hitting fresh highs.