Mortgages at 10 times salary

Nearly 40,000 mortgages worth more than ten times the borrower’s salary were agreed at the height of the property boom. This accounted for just under 4 per cent of all mortgages. The majority of loans were on homes worth six times salary or less, although the figures, which came from Council of Mortgage Lenders data, show that the average ratio was 3.16 per cent.