A quarter of homebuyers are hoping to avoid taking out a maximum mortgage, Yorkshire Bank has reported, suggesting that many are taking on board warnings about the impact of financial overstretch.
But one in three is still putting home purchase ahead of other financial obligations, cutting back on spending elsewhere in order to afford their mortgage.
Spending habits show homebuyers are practising "prudence, not panic", stressed Yorkshire Bank's head of retail Gary Lumby.
But the outlook for many homebuyers confronted with the current affordability crisis in the housing market remained pessimistic, with more than three quarters predicting further rate rises over the coming year.
Many homebuyers are opting for fixed-rate products as a consequence, seeking to modify the impact of rising rate rises, with more than a quarter of first-time buyers telling Yorkshire Bank they were looking for a fixed-rate mortgage.
Meanwhile, the Mortgage Trust has reported that record numbers of borrowers are choosing fixed-rate loans, with the rise in fixed-rate sales becoming steeper over the last six months.
Find out more about mortgage payments using our online mortgage calculator
© Adfero Ltd