Working couples spend 25% of income on mortgage payments

Working couples are spending more than one-quarter of their joint disposable incomes on mortgage repayments, according to new figures published today.

The figures in Irish Property Buyer magazine show that the average couple is spending just over €1,400 per month on repayments, an increase of more than €250 since the end of last year.

The situation is even worse in Dublin, where couples are spending just under €2,000-a-month or 37% of their incomes on repayments, an increase of €375 since December 2005.

The increased repayments are due mainly due increasing interest rates and the relentless rise in house prices across the country.

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