The average first-time buyer is spending almost 20 per cent of their income on mortgage interest.

That’s the highest percentage for 16 years, according to the Council of Mortgage Lenders.

And, yes, I said mortgage interest.

The CML’s figures don’t include the capital component of the loan.

The typical first-timer is now borrowing a record 3.37 times their annual salary.

This time last year, they were spending 16.5 per cent of their income on mortgage interest. Now it’s over 19 per cent.

Obviously, since these are averages, many will be paying less than this.

But by the same token, many will be shelling out far more – and that is truly worrying.

Get into difficulties keeping up with the payments, as more and more people are, and you may be surprised just how little state help you’ll get.