Single income families the real housing losers

THIRTY years ago or less, the maximum 90% mortgage was limited to no more than could be supported by a single average salary.

This was enough, however, to buy an average family home, the cost of which was governed by the amount that could be borrowed.

In more recent years, the moneylending fraternity increasingly made available maximum loans based on two incomes, doubtless claiming that this was in response to ‘customer pressure’ but really as a means of greatly boosting profits.