Mortgages became 20% more affordable last, year, according to the latest mortgage affordability research released by Woolwich.

The mortgage arm of Barclays reported that homeowners in England and Wales saw a 20% drop in the proportion of their take-home pay spent on monthly mortgage repayments in 2009.

In December 2008, homeowners across England and Wales were spending on average £196 of every £1000 of their take home pay each month on their mortgages. A year later this had dropped to £157. In cash terms this equates to a saving of £110 per month on average in England and Wales.

The average monthly mortgage payments for homeowners now stands at £497, compared to £607 in December 2008.

Andy Gray, head of mortgages at Barclays said: “For the 11 million UK households who have a mortgage there is a silver lining to the recession – a substantial reduction in mortgage payments right when they need it most. For them it’s a chance to save in a way they might not have been able to before