More than half of UK first-time buyers paying more for mortgage than they did for rent

Hamptons says figure of 56% is highest in at least a decade, with mortgage rates rising since start of Iran war

A majority of first-time UK buyers now pay more towards their monthly mortgage bills than they used to pay in rent, the estate agent Hamptons has found.

Last month 56% of first-time buyers said their monthly mortgage bills exceeded their previous rent, the highest proportion in at least a decade, according to Hamptons. They paid 39 more on average.