Average mortgage for UK first-time buyer hits record high of 210,800
First-time buyers are borrowing record-high mortgages and increasing their share of housing market purchases as lenders relax affordability checks and buyers use stamp duty relief.
Homeowners in areas like Texas and Florida are experiencing negative equity, where their home value is less than their mortgage, a situation termed as "underwater." This issue is localized compared to the broader crisis of the 2008 housing bubble.