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Being Able To Borrow Seven Times Your Salary To Buy A House Will Inflate House Prices Further

By Vicky Spratt writing for i

Habito’s new product may help some onto the ladder, but it’s another symptom of ballooning house prices and stagnant incomes
This new mortgage product from the online broker is the first time a lender will allow homebuyers to borrow as much as seven times their salary since Northern Rock was nationalised in 2008 following the global financial crash.
This is a double-edged sword. At the moment, Habito is the only lender offering such a product. Were it to become more widespread, and more accessible to lower income buyers, this could be the thing that finally turns “Generation Rent” into “Generation Buy”.

Read the full article at i