Mortgages

Communities and Local Government written question – answered on 11th March 2009.

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Photo of Stewart Jackson Stewart Jackson Shadow Minister (Communities and Local Government)

To ask the Secretary of State for Communities and Local Government pursuant to the answer to Mr. Meacher, of 12 February 2009, Hansard, 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.

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

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 8 but 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

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