Homeowners coping with big mortgages

NEW research suggests that house buyers are not financially stretched despite taking out huge mortgages.

The survey, conducted for PermanentTSB, found that nearly half of those who take out a mortgage feel its does not curtail spending on their social lives.

The bank said that this finding supports the argument that while house prices had increased very significantly over recent years, the low interest rate environment meant that the affordability of houses had not deteriorated as much as people had expected.