First-time buyers face £200 more a month on mortgage than last year, data shows

Rightmove said those with a 15% deposit may now pay an average of £1,056 per month.

Rightmove said first-time buyers with a 15% deposit face paying nearly £200 per month more for a mortgage typically than they did a year ago (PA) (PA Archive)

First-time buyers with a 15% deposit to put down face paying nearly £200 per month more for a mortgage typically than they did a year ago, according to a property website.

Rightmove said those in this deposit bracket will pay an average of around £1,056 per month compared with £865 last year, due to mortgage rates and house prices rising.

However, it said this is lower than the £1,218 per month that a new first-time buyer would have paid last October, around the time some mortgage rates were peaking.