Mortgages

HC Deb 07 September 2004 vol 424 cc1158-9W

Mr. Hayes

To ask the Deputy Prime Minister what the average mortgage taken out by first time buyers was in each year since 1997. [187331]

Keith Hill

The average advance (mortgage) taken out by first-time buyers across the whole of the UK during each year since 1997 has been as follows.

Year	Average advance (£000)
1997	46,600
1998	50,900
1999	57,400
2000	60,500
2001	67,000
2002	80,300
2003	82,600
Note:
The term "first-time buyer" refers to buyers who were not homeowners immediately prior to this purchase.
Source:
Survey of Mortgage Lenders.
Figures are shown to the nearest 100.