Billion Pound Industry

Britain's booming housing market is forcing people to take out record mortgages totalling a staggering £1.1 billion every day. With house prices rising up to £75 a day in some parts of the country, people are risking the family finances taking out the biggest-ever home loans. New figures reveal home-buyers typically borrowed about £142,000 to buy a home in November, compared to just £45,000 a decade ago. For a person earning the average salary of £23,500, this is six times' their salary, a staggering multiple which puts people under intense pressure.