Mortgage affordability across the UK has remained steady at or just below 30 per cent of average disposable earnings since 2009, according to the latest research released by Halifax.
However, over the past decade London mortgages have become increasingly less affordable, but have remained below the 2007 peak when mortgage payments were more than half of earnings.
The report found that London homeowners spend 46 per cent of disposable income on their mortgage, driven by house price increases.
Meanwhile, the cost of maintaining a mortgage in Northern Ireland has halved, at 19 per cent of average disposable earnings compared to 39 per cent in 2008. Scotland saw similar performance with typical mortgages taking 18 per cent of disposable earnings, down from 30 per cent in 2008.
The 10 most affordable local areas are all in northern England and Scotland, while the 10 least affordable areas are all in London and the South East.
Scotland and the North West have a share of the 10 most affordable local authority districts in the UK.
Copeland in Cumbria is the most affordable, where typical mortgage payments account for 13 per cent of average local earnings, followed by West Dunbartonshire in Scotland, Barrow-in-Furness, Burnley and Hyndburn in the North West.
The 10 least affordable areas are predominantly in London and the South East.
Brent and Haringey are the least affordable places in the UK with average mortgage payments on a new mortgage loan accounting for 68 and 65 per cent of average local disposable earnings respectively, followed by Hackney and South Bucks, at 61 and 60 per cent respectively.
Andy Bickers, mortgage director at Halifax, said: “Despite rising house prices and interest rates, the average UK earnings have also risen in line, meaning that national affordability has remained broadly flat.
“This is good news for first-time buyers, homeowners and a boost to the housing market.”