First-time buyers (FTBs) need to borrow up to seven-and-a-half times their salary to get on the property ladder in some popular UK cities, according to Mojo Mortgages.

Bath tops the list as the country’s least affordable location, followed by Oxford and London.

Homes in Bath typically command a price tag of more than £528,530, while the average resident earns £29,940 annually.

While wages are higher in Oxford, a couple would need to borrow 7.29 times their combined salary for a £570,357 property, and in London it would be an income multiple of 7.13 for a £704,138 home.

The top 20 most expensive towns and cities are all in or around the South of England, apart from Stratford-upon-Avon.

Richard Hayes, chief executive and co-founder at mortgage broker Mojo Mortgages, said: “First-time buyers could now borrow as much as seven times their salary – but this would be a big stretch for many couples and wouldn’t allow them to buy a property in some of the UK’s most expensive locations.

“Lack of affordable housing has repercussions, not only for the individuals involved but the wider economy and community if workers in lower-paid jobs are priced out of the market.

“Enabling people to borrow more might help them on to the property ladder but much will depend on their circumstances as lenders and brokers must apply strict affordability checks.

“It’s also important that buyers weigh up whether the location offers the best quality of life for them.”