Figures reveal scale of Yorkshire households at risk from rates increase

THOUSANDS of families in Yorkshire are burdened with mortgages that could put them at risk of losing their homes if interest rates rise, an MP has warned.

Labour produced figures suggesting almost 50,000 households in Yorkshire are spending more than 35 per cent of their income paying their mortgages.

Financial advisers generally recommend housebuyers should try and avoid paying more than 35 to 40 per cent of their net income on a mortgage.

Read on… http://www.yorkshirepost.co.uk/news/figures-reveal-scale-of-yorkshire-households-at-risk-from-rates-increase-1-8321439

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