"Unfortunately, not every Premier League location has seen improvements to mortgage affordability, with Newcastle fans facing the largest increase versus last season. Although lifting their first trophy in 56 years should help ease the pain"
- Stephanie Daley - Alexander Hall
Falling mortgage rates have brought relief to homeowners in almost every Premier League location, with only Newcastle, Liverpool, Everton and Sunderland seeing higher monthly mortgage costs over the past year, according to new research from mortgage adviser Alexander Hall.
The analysis looked at each Premier League local authority, comparing average monthly mortgage repayments to figures from the previous year. The findings show that most areas have experienced a reduction in payments, in some cases by double-digit percentages.
Chelsea and Fulham share the highest average mortgage cost in the league at £3,708 per month across Hammersmith and Fulham, followed by Arsenal’s Islington at £3,275 per month. Despite topping the table for expense, both areas have seen notable improvements in affordability.
“The average cost of a mortgage in Islington, home to Arsenal, has fallen by 15% in the last 12 months,” said Stephanie Daley, director of partnerships at Alexander Hall. “Across Hammersmith and Fulham, home to both Stamford Bridge and Craven Cottage, the average cost of a mortgage is down 13.2%.”
In Newham, home to West Ham United, mortgage payments have dropped by 8.4% compared to last year. Bournemouth recorded the largest reduction outside London at 6.3%, while Manchester City and Brighton & Hove Albion both saw a 5.9% fall.
Overall, improvements to mortgage affordability have been widespread. Only four Premier League areas have seen an increase in costs, with house price growth outpacing reductions in interest rates. Newcastle experienced the largest rise at 4.4%, while Sunderland saw a 1% increase. Everton and Liverpool also faced a 2.8% uplift in the Liverpool local authority.
“As football fans gear up for the return of the Premier League, there’s even more reason to cheer this season,” Daley explained. “Improvements to the mortgage landscape over the last year have seen the monthly cost of a mortgage reduce across all but a few Premier League locations."
"This is great news for those looking to climb the property ladder or for homeowners nearing the end of their fixed-term deals, who stand to benefit from lower monthly payments versus last season, giving them a little extra budget to secure that all-important matchday ticket. Unfortunately, not every Premier League location has seen improvements to mortgage affordability, with Newcastle fans facing the largest increase versus last season. Although lifting their first trophy in 56 years should help ease the pain.”
