Mortgages

Communities and Local Government written question – answered at on 8 December 2008.

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Photo of Julia Goldsworthy Julia Goldsworthy Shadow Secretary of State for Communities and Local Government, Department for Communities and Local Government

To ask the Secretary of State for Communities and Local Government what the (a) mean and (b) median monthly mortgage payments were (a) for all households and (b) for households at each level of disposable income in (i) England and (ii) each region in England in each of the last five years.

Photo of Iain Wright Iain Wright Parliamentary Under-Secretary (Department for Communities and Local Government)

Estimates of the mean monthly mortgage payment for all households taking out a new mortgage for house purchase during the year, in (i) England and (ii) each region in England in each of the last five years are given in the following table.

Estimates for median monthly mortgage payments and data for households at each level of disposable income are not available.

Estimated mean monthly mortgage payments for all households taking out a new mortgage for house purchase during the year
£ per month
2003 2004 2005 2006 2007
North East 370 466 535 594 687
North West 420 525 597 659 759
Yorkshire and the Humber 408 509 587 652 744
East Midlands 457 561 629 672 763
West Midlands 472 577 646 715 798
East 603 712 789 855 981
London 832 1,022 1,134 1,251 1,486
South East 693 811 895 981 1,128
South West 551 645 727 806 921
England 563 684 773 851 981
Note:

Assumes repayment mortgage over 25 years.

Sources:

Regulated Mortgage Survey and the Council of Mortgage Lenders

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