HC Deb 18 July 2000 vol 354 cc138-9W
Mr. Matthew Taylor

To ask the Secretary of State for the Environment, Transport and the Regions, pursuant to his answer of 13 July 2000,Official Report, column 567W, what proportion of (a) all mortgages and (b) the total value of mortgages, were new mortgages on (i) fixed, (ii) discounted variable and (iii) other variable rates in each year from 1994 to 1998. [131325]

Mr. Mullin

The proportion of new mortgages that were fixed rate, discounted variable rate and other variable rate is provided in the table.

1994 1995 1996 1997 1998
Percentage of new mortgages by number
Fixed 49.4 30.7 20.5 41.2 49.9
Discounted variable 28.5 49.1 47.2 30.3 28.8
Other variable 22.2 20.2 32.3 28.4 21.3
Percentage of new mortgages by value
Fixed 51.5 33.8 18.2 45.4 53.1
Discounted variable 26.0 45.3 47.9 27.2 26.0
Other variable 22.5 20.9 33.9 27.4 20.9

Note:

Figures may not sum to 100.0 due to rounding

Source:

DETR 5 per cent. Survey of Mortgage Lenders

Most fixed rate mortgages will revert to variable rate mortgages after an agreed period of anything from six months up to 10 years.

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