UK Mortgage Interest Payments Hit 15-Year High

Mortgage interest payments for first-time buyers have reached their highest levels in 15 years in the United Kingdom, according to a survey by the Council of Mortgage Lenders, London."First-time buyers in April were paying 18.7% of their income on mortgage interest -- the highest level since 1992 and up from 18.3% in March and 16.3% in April last year," the CML said. The council can be found on the Web at http://www.cml.org.uk.