UK First-Time Buyers Face Higher Mortgage Costs Than Rent

• 56% of UK first-time buyers now pay more for their mortgage than their previous rent.
• This is the highest proportion in at least a decade, according to Hamptons.
• Mortgage rates have been rising since the start of the Iran war.
• The tightening supply of dollars in international markets is amplifying US rate rises.
• Global market shifts, including those by China, are contributing to the increased mortgage costs.