§ Mr. Matthew TaylorTo ask the Secretary of State for the Environment, Transport and the Regions what estimate he has made of the proportion of mortgages held on(a) fixed rate, (b) variable rate and (c) other terms in each of the last 20 years; and if he will make a statement. [130257]
§ Mr. MullinThe Department does not collect information on the totality of outstanding mortgages. It does, however, collect information on the numbers of "new advances" that are fixed rate, discounted variable rate and other variable rate. Figures were first collected in 1993 and the figures for 1993 and 1999 are as follows.
Percentage of new mortgages by number Percentage of new mortgages by value Fixed Discounted variable Other variable Fixed Discounted variable Other variable 1993 57.3 20.6 22.1 60.4 19.6 20.0 1999 40.2 39.4 20.4 43.1 37.4 19.5 Source:
DETR 5% Survey of Mortgage Lenders
Equivalent information on outstanding mortgages has been collected using ad hoc surveys of mortgage lenders carried out by the Council of Mortgage Lenders (CML) in 1994, 1997 and 1999. Their findings were published in Housing Finance No. 24 (1994); News & Views No. 22 (1997) and Housing Finance No. 44 (1999).