Average UK Mortgage Value for 2006 to 2007

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Average UK Mortgage Value for First Time Buyers in 2006 to 2007

The average mortgage loan value leant to first time borrowers in 2006 and 2007. As first time buyers generally have less cash assets up front, the mortgage taken out by first time borrowers is typically higher in relation to the amount of money paid as deposit.

See a trend map on loan to value figures for first time buyers.

	<75		75-100		100-125		125-150		150-175		175-200
	200-225		225-250		250-275		275-300		300-325		325-350
	350-375		375-400		400 -425		425-450		450-475		>500

Average First Time Buyer Mortgage Value Highlights

• The average mortgage for a property bought by first time buyers was £114,296 in 2006, going up to £130,981 in 2007, an increase of 14.6%.
• Greater Manchester saw a well above increase in average purchase price at 34%.
• Cardiff and Bournemouth saw above average increases in average purchase price paid of 24% and 18% respectively over 2006 – 2007.
• Birmingham witnessed a below average increase in average purchase price paid of 6% with the rest of the West Midlands experiencing a greater than average increase of 22%.
• Glasgow and Edinburgh saw somewhat above average increases in average purchase price, 29% and 16% respectively.
• North Yorkshire saw a slightly below average increase in average property prices paid at 14%, with West Yorkshire and South Yorkshire witnessing a slightly below average increases of 10% and 6% respectively.
• Southampton saw a well below average increase in average purchase price of 5%.
• Greater London experienced a 5% decrease in average purchase price, with the average purchase price going up from £211,772 in 2006 to £200,551 in 2007 there.
  

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