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First Time Buyers: Mortgages

Volume 465: debated on Wednesday 24 October 2007

To ask the Secretary of State for Communities and Local Government what proportion of the average (a) buyer’s income and (b) first time buyer’s income went into mortgage payments in (i) 1996-97 and (ii) the latest year for which figures are available. (157469)

Data on the average proportion of a household’s declared income that is used for their mortgage payment for the UK is available from the Regulated Mortgage Survey and is shown in following table.

Mortgage payments as percentage of household income, England

First time buyers

All buyers

1997

17.9

17.1

2006

21.5

19.7

Source:

Regulated Mortgage Survey