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Mortgages

Volume 464: debated on Wednesday 17 October 2007

To ask the Chancellor of the Exchequer (1) what the maximum fixed term mortgage available is in the UK; and what estimate he has made of how many borrowers have signed up to such a facility; (157807)

(2) what estimate he has made of how many mortgage holders in the UK have fixed term mortgages.

The Financial Service Authority (FSA) publishes comparative tables of products offered by lenders that report that the maximum fixed term for a mortgage in the UK is 25 years. These tables are available at http://www.fsa.gov.uk/tables

The Council of Mortgage Lenders (CML) publishes the number of fixed term mortgages issued each year in the UK. These statistics are available at http://www.cml.org.uk/cml/statistics