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First Time Buyers: Mortgages

Volume 469: debated on Monday 10 December 2007

To ask the Secretary of State for Communities and Local Government what proportion of first-time buyers in (a) London, (b) the South East and (c) England took out a mortgage with a repayment schedule expected to last more than (i) 20, (ii) 25, (iii) 30, (iv) 35, (v) 40 and (vi) 60 years in (A) 1997, (B) 2000, (C) 2003 and (D) 2006. (171820)

The proportion of first-time buyers in London, South East and England that took out mortgages expected to last more than 20, 25, 30, 35, 40 and 60 years for 2006 is shown in the following table.

Data for 1997, 2000 and 2003 is unavailable.

Proportion of FTBs that took out mortgages expected to last more than 20, 25, 30, 35, 40 and 60 years, 2006

Greater than 20

Greater than 25

Greater than 30

Greater than 35

Greater than 40

Greater than 60

London

90.13

19.47

4.71

0.31

0.00

0.00

South East

89.73

34.89

12.59

0.61

0.00

0.00

England

90.17

37.06

13.79

0.60

0.00

0.00

Source:

Regulated Mortgage Survey