Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Mortgage Repayments Top Concern for UK Homeowners, Survey Finds

Higher mortgage repayments are the biggest concern for UK homeowners in the current housing market, according to a survey by Boon Brokers. The survey of 1,000 mortgage holders found that 33% named higher repayments as their main worry, while 24% were most concerned about entering negative equity and 14% cited falling property values.

The findings indicate that the immediate pressure of monthly mortgage costs is accompanied by ongoing concerns about house price declines. Nearly half of respondents said they were either extremely concerned or very concerned that market changes could reduce the equity in their home.

When asked about the risk of negative equity during their current mortgage term, 44% of respondents said it was likely, 26% said it was unlikely, and 31% were unsure. Despite these concerns, 58% of homeowners believed their property had increased in value since purchase.

Negative equity was a particular concern among younger homeowners. Among those aged 25-34, 31% named negative equity as their top concern, and 56% in this age group said entering negative equity during their mortgage term was likely. In contrast, mortgage repayment fears were most prominent among those aged 45-54, with 42% naming higher repayments as their biggest concern—the highest of any age group.

Regional differences were also noted. In central England, 36% said entering negative equity was their main concern, while 26% said higher mortgage repayments were their top concern. In Northern England, 36% named higher repayments as their main worry.

For letting agents and inventory clerks, these findings highlight the ongoing financial pressures facing homeowners, which may influence tenant demand, property turnover, and landlord decision-making in the UK property market.