# ‘Challenging times’ for homebuyers – mortgage affordability tightest since 2008

By Aneisha Beveridge — 2026-05-05

Aneisha Beveridge, head of research at Hamptons, said: “Homeowners in London’s commuter belt are among those feeling the impact of higher mortgage rates most sharply.

“These are areas where a much larger share of households rely on a mortgage, especially compared to central London.

“It’s also where first-time buyers and upsizers are stretching the hardest to get a bit more space, often pushing loan-to-income multiples to make the numbers work.

“That said, it’s worth keeping some perspective. For many renters, spending this proportion of income on housing would feel like a step forward.

“Even with rates edging up again over the last month, owning with a mortgage is still often cheaper than renting, so affordability challenges are increasingly about access and upfront barriers, rather than just the cost of monthly repayments.”

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