Luxe London home mortgages highest in 10 years

London

HOMEOWNERS are stretching themselves to buy the most expensive properties in London.

Fifty-eight per cent of people who bought homes for £1 million (S$1.9 million) or more in the capital last year had to use a mortgage, according to data compiled by Hamptons International. That was the highest proportion in 10 years and compares with 31 per cent of buyers during the financial crisis in 2009, the broker said.