d an end to house price inflation following the Bank of England's 0.25 per cent increase in interest rates.

Firstrung called the rise "cause for some hope" for first-time buyers amid concerns that initial mortgage deals are likely to place buyers in debt that will last the rest of their lives.

Paul Holmes, ch

First-time buyers are continuing to borrow larger and larger amounts of money to get onto the housing ladder, according to the Council of Mortgage Lenders (CML).

The CML found that in November, a typical first-time buyer took out a mortgage worth 3.29 times their salary, which is the highest ever recorded multiple of their income.

This is compared with 3.27 times in October and 3.08 times in November 2005.

Despite this, the number of first-time buyers climbing onto the property ladder grew in November. Home loans to first-time buyers went up from 35,300 in October to 37,000, the CML found.

"First-time buyers are clearly still keen to get on to the property ladder despite the growing financial hurdles," said CML director-general Michael Coogan.

He added: "First-time buyers should examine the benefits of taking out a fixed-rate deal for payment certainty in the next few years and make sure they are protected against any unforeseen changes in their personal circumstances."

According to the Royal Institution of Chartered Surveyors, finding the money to finance the upfront costs of getting onto the housing ladder, as well as possibly paying stamp duty, are the biggest obstacles to first-time buyers.

Mortgage adviser Firstrung has predicted an end to house price inflation following the Bank of England's 0.25 per cent increase in interest rates.

Firstrung called the rise "cause for some hope" for first-time buyers amid concerns that initial mortgage deals are likely to place buyers in debt that will last the rest of their lives.

Paul Holmes, chi

le of their income.

This is compared with 3.27 times in October and 3.08 times in November 2005.

Despite this, the number of first-time buyers climbing onto the property ladder grew in November. Home loans to first-time buyers went up from 35,300 in October to 37,000, the CML found.

"First-time buyers are clearly still keen to get on to the property ladder despite the growing financial hurdles," said CML director-general Michael Coogan.

He added: "First-time buyers should examine the benefits of taking out a fixed-rate deal for payment certainty in the next few years and make sure they are protected against any unforeseen changes in their personal circumstances."

According to the Royal Institution of Chartered Surveyors, finding the money to finance the upfront costs of getting onto the housing ladder, as well as possibly paying stamp duty, are the biggest obstacles to first-time buyers.

Mortgage adviser Firstrung has predicted an end to house price inflation following the Bank of England's 0.25 per cent increase in interest rates.

Firstrung called the rise "cause for some hope" for first-time buyers amid concerns that initial mortgage deals are likely to place buyers in debt that will last the rest of their lives.

Paul Holmes, ch

learly still keen to get on to the property ladder despite the growing financial hurdles," said CML director-general Michael Coogan.

He added: "First-time buyers should examine the benefits of taking out a fixed-rate deal for payment certainty in the next few years and make sure they are protected against any unforeseen changes in their personal circumstances."

According to the Royal Institution of Chartered Surveyors, finding the money to finance the upfront costs of getting onto the housing ladder, as well as possibly paying stamp duty, are the biggest obstacles to first-time buyers.

Mortgage adviser Firstrung has predicted an end to house price inflation following the Bank of England's 0.25 per cent increase in interest rates.

Firstrung called the rise "cause for some hope" for first-time buyers amid concerns that initial mortgage deals are likely to place buyers in debt that will last the rest of their lives.

Paul Holmes, ch

changes in their personal circumstances."

According to the Royal Institution of Chartered Surveyors, finding the money to finance the upfront costs of getting onto the housing ladder, as well as possibly paying stamp duty, are the biggest obstacles to first-time buyers.

Mortgage adviser Firstrung has predicted an end to house price inflation following the Bank of England's 0.25 per cent increase in interest rates.

Firstrung called the rise "cause for some hope" for first-time buyers amid concerns that initial mortgage deals are likely to place buyers in debt that will last the rest of their lives.

Paul Holmes, ch

d an end to house price inflation following the Bank of England's 0.25 per cent increase in interest rates.

Firstrung called the rise "cause for some hope" for first-time buyers amid concerns that initial mortgage deals are likely to place buyers in debt that will last the rest of their lives.

Paul Holmes, chief executive officer of Firstrung, said: "The rate rise is a defence mechanism versus the mismanagement of the economy."

He added that it followed a "run on printing money to obscene levels at a time when interest rates were far too low for too long".

Mr Holmes blamed low rates in 2001 for current instances of high mortgage repayments and poor affordability.

He noted that 2001, when rates were about two-thirds their current level at 3.75 per cent, was the time at which mortgage rates and house prices began to spiral upwards.

The Council of Mortgage Lenders rejected claims that the new rise could impact affordability, calculating that the monthly increase in payments on a 150,000 mortgage should amount to as little as 25.