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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Lower `house price to earnings` ratio means smaller mortgage debt

13/05/2009

A new report from Halifax has suggested that homes for first-time buyers (FTBs) have become more affordable in recent years.

In its latest `First-Time Buyer Affordability Review`, Halifax compares the average price of a house for an FTB with the average earnings in that area.

The lender claims that in March 2009, the average house cost 4.34 times the average earnings, compared with a peak of 5.84 in July 2007. The last time it was lower than that was in January 2003, when the average home for a first-time buyer cost 4.33 times the average salary.

A spokesperson for Debt Advisers Direct said: "The recent fall in property prices does mean that borrowers are taking on less mortgage debt, compared with people in similar circumstances only a few years ago."

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according