Figures from the Office of National Statistics (ONS) show the price of homes for first time buyers have increased by 10.5% in the last year.
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The Office for National Statistics (ONS) have reported UK house prices are up 9.1% in the last year to February 2014.
Mortgage debt in central London now exceeds that of Wales and the rest of the capital is now seeing faster house price rises.
According to the Halifax UK house prices have risen 8.7% in the last year but month on month fallen by 1.1% suggesting a slowdown.
Data from the Bank of England shows the number of people taking out mortgages in February has fallen for the first time in the last year.
About 95% of all mortgages are fixed rate with the threat of interest rates rising and homeowners want certainty in the future.
House prices were up 6.8% in January since a year earlier after a lost decade of building leaves the UK with a significant shortfall in homes.
Warnings from the Bank of England that interest rates would rise six fold by 2017 means higher mortgage costs for almost three million households.
This calculator is for those with existing mortgages. After their offer period the mortgage reverts to the variable rate. Depending on the equity in the property, their can receive another mortgage offer at a lower rate, usually for 2 years. We can calculate the level of equity and show the best mortgage rate for different levels of equity.
Almost half a million households in the UK struggle with negative equity with the greatest number in the regions rather than London.