If you’re looking for a new home without breaking the bank, Hollie Borland has compiled a list of some of the best areas for new home buyers to start out. The first place on this list is North of England. Northern England made the top of the charts with how low their monthly mortgage payments are estimated during each sale, giving them cash left over throughout the month. Sunderland, to be specific, was the exact area in Northern England that showed to have the most promise.
Key Takeaways:
- If one is a single first time buyer, buying property in the North of England would be appropriate because the house prices are affordable.
- Of all the most affordable cities to buy houses for first time buyers, Sunderland is adjudged the most affordable since the monthly mortgage payments are very low.
- For first time buyers in Sunderland, if one earns 2,187 pounds monthly, he only needs to spend about 201 pounds in paying his mortgage for each month.
“North Tyneside and Wakefield were the second and third most affordable cities, where only 10.67 per cent and 11.53 per cent of your monthly wages would need to go towards your mortgage respectively.”
Read more: https://www.thesun.co.uk/money/8417845/best-locations-single-people-buy-house/