The salary needed to afford the cheapest homes in Burnley (Photo: Zoopla) Have you ever looked at the cheapest homes in the county and wondered what you would have to earn in order to buy them? Luckily, East Lancashire is home to some very affordable properties which are ideal for investors and first time buyers. Right now, the most affordable properties in East Lancashire are located in Burnley. Tom Newcombe, mortgages spokesperson for MoneySuperMarket said there are many factors that impact the cost of mortgage repayments. He explained: “Affordability depends a lot on a customer’s outgoings as well as income, but in general lenders will hardly ever lend above five times your income- for most people, four and a half times will be the limit.”
The salary needed to afford the cheapest homes in Burnley (Photo: Zoopla) Have you ever looked at the cheapest homes in the county and wondered what you would have to earn in order to buy them? Luckily, East Lancashire is home to some very affordable properties which are ideal for investors and first time buyers. Right now, the most affordable properties in East Lancashire are located in Burnley. Tom Newcombe, mortgages spokesperson for MoneySuperMarket said there are many factors that impact the cost of mortgage repayments. He explained: “Affordability depends a lot on a customer’s outgoings as well as income, but in general lenders will hardly ever lend above five times your income- for most people, four and a half times will be the limit.”