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Mortgages

Volume 489: debated on Wednesday 11 March 2009

To ask the Secretary of State for Communities and Local Government pursuant to the answer to the right hon. Member for Oldham West and Royton (Mr. Meacher), of 12 February 2009, Official Report, column 2219W, on mortgages, how many and what proportion of mortgages were in each list house price to income ratio bracket in each year for which data are available. (262616)

This information is not collected by Communities and Local Government. However for the UK we have made the following estimates based on data from the Regulated Mortgage Survey and the Council of Mortgage Lenders.

Number of mortgages for house purchase by price to income ratio, UK

House price to income ratio

Less than or equal to 6

Greater than 6 but no more than 8

Greater than 8but no more than 10

Greater than 10

Total

1997

1,050,746

31,656

11,230

9,963

1,103,595

1998

1,030,377

35,115

11,600

11,179

1,088,271

1999

1,179,639

44,620

15,464

14,175

1,253,898

2000

1,043,624

47,181

16,815

15,341

1,122,960

2001

1,207,137

64,580

21,093

20,901

1,313,711

2002

1,249,509

89,449

30,076

27,761

1,396,795

2003

1,025,385

130,147

50,201

46,184

1,251,917

2004

935,632

174,841

71,398

62,931

1,244,801

2005

798,731

124,523

49,157

42,310

1,014,722

2006

924,932

120,789

42,352

37,937

1,126,010

2007

819,298

117,305

42,241

37,555

1,016,400

2008

410,779

62,897

22,513

20,111

516,300

Proportion of mortgages for house purchase by price to income ratio, UK

House price to income ratio

Less than or equal to 6

Greater than 6 but no more than 8

Greater than 8 but no more than 10

Greater than 10

Total

1997

95.2

2.9

1.0

0.9

100

1998

94.7

3.2

1.1

1.0

100

1999

94.1

3.6

1.2

1.1

100

2000

92.9

4.2

1.5

1.4

100

2001

91.9

4.9

1.6

1.6

100

2002

89.5

6.4

2.2

2.0

100

2003

81.9

10.4

4.0

3.7

100

2004

75.2

14.0

5.7

5.1

100

2005

78.7

12.3

4.8

4.2

100

2006

82.1

10.7

3.8

3.4

100

2007

80.6

11.5

4.2

3.7

100

2008

79.6

12.2

4.4

3.9

100

Source:

Regulated Mortgage Survey and Council of Mortgage Lenders