Friday, Jun 13, 2008
Deposits up, multiples down ...
Council of Mortgage Lenders: Resurgence of fixed rate loans
"The average first-time buyer put down a deposit of 13% in April, which is the highest level in over 3 years. First-time buyers typically took out loans for 3.3 times their income, down from 3.35 in March. The average home mover loan was 2.96 times their income, down from 3 in March."
Plus lots of other useful statistics.
Posted by mark wadsworth @ 09:47 AM (328 views) Add Comment
2 Comments
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1. inbreda said...
The average deposit size is likely to be increasing across th board, now that 100% mortgages are no longer available. So only those with a big chunk of cash are able to buy - and anyone risking 20 grand of their wown is going to be very nervous about jumping in. Another fine example of the negative feedback loop.
2. need-a-crash said...
How does anyone manage to buy a house at only 3.3 times their salary!! Surely with today's prices it takes at least 5 times if not more?