It is increasingly difficult for single people in the UK to get a mortgage on their own, research suggests.

Compare The Market reports that Glasgow is the most affordable location in the UK for singles, yet owning a property would still require homeowners to spend 38% of their salary on mortgage repayments. 

A general rule of thumb is that monthly mortgage repayments on a home should not exceed 30% of your monthly income. 

Rank City Monthly Salary Monthly Mortgage Repayment % of Income
1 Glasgow £3,514 £669 19.04%
2 Aberdeen £4,253 £811 19.07%
3 Liverpool £3,595 £689 19.16%
4 Derby £4,250 £837 19.70%
5 Kingston-upon-Hull £2,697 £560 20.77%

The most affordable places to buy a home, via Compare The Market

Owning a home in Brighton or London would require a singleton, on average, to spend over 110% of their monthly income on their mortgage. For couples, getting a mortgage in Brighton or London would cost more than 55% of their combined monthly wages. 

Meanwhile, when it comes to renting, only two out of the 25 biggest cities in the UK are affordable for single people. Renting a one-bedroom flat in Derby would set you back 23% of your monthly salary, while Aberdeen scrapes into the 30% club with an average of 28% of a single income being spent on rent. A one-bedroom flat in London would require up to 85% of an average single person’s salary. 

Couples generally find it more affordable to get a mortgage in the UK, but couples who spend more than 30% of their monthly salary on their mortgage can find it harder to maintain a higher quality of living.

Affordable Housing

The stagnated delivery of affordable housing in the UK over the last 10 years has left many first-time buyers in limbo, and with no starter homes built since 2014 it is becoming harder for people to afford to buy homes.

Self build offers an alternative for those unable to secure a mortgage on their homes, enabling builders to create their dream homes under a manageable budget that can save on long-term costs.

Additionally, self build mortgages differ from traditional mortgages, with one of the main advantages being the advance type mortgage. This is where stage payments are released at the start of each phase of the build, and is particularly helpful for those without large pots of savings to fund the build as it progresses. 

Our Sponsors