Rate rise will hit house-buyers hard

iStock_000008861985_smallHouse buyers will struggle to make end meets if the proposed interest rate rise in 2015 goes ahead, after over a third of home-buyers admit they would find it difficult to cope if their mortgage became more expensive.

The average price range for property purchasers is £235,000 and with a combined income of £50,674, the average home buyer can afford monthly mortgage payments of £780, according to report: The MMR Muddle: Underprepared and Out of Pocket.

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