September 2007 Mortgage Statistics

Cashback Mortgages

For the month up to 25th September the average amount paid as cashbacks in a lump sum rose from £257 to £261. The number of products fell by 460. The average as a percentage of the loan rose by £3. Cash back data is based on a £50,000 mortgage.

Discounted Mortgage Rates

The total number of these mortgages fell from 3166 to 2242 excluding 47 stepped rate. The most popular was the 2-3 year category where the number of loans fell by 579.

Fixed Rate Mortgages

The number of fixed rate mortgages fell from 5338 to 3904 excluding 56 stepped rated products. The 2-3 year category products were down by 622 but the 3-4year band decreased from 1661 to 917.

Cashback for First Time Buyer Mortgages

The fixed rate cashbacks value fell from 406 to 375 and the number of products fell from 8 to 4. The average of the cashbacks as a percentage of the load remained at £900.

Discounted Rates for First Time Buyer Mortgages

These fell from 84 to 72 excluding 2 stepped rates. There were no products in the 1-2year, 4-5year, 5-10year and 10+plus. The 2-3 band was down from 59 to 53.

Fixed Rates for First Time Buyer Mortgages

Fixed rates for first time buyers fell by 23 products. There were no products in the 10+years band and the 2-3 year band fell by 20 products.

Cashback Mortgages – Subsequent Buyer Market

The Number of cashback products fell by 36 and the average cash back fell by £3. The average value of cashback on percentage of the loan remained at £4,100.

Discounted Mortgage Rates – Subsequent Buyer Market

These fell from 907 to 797 excluding 19 stepped rates. There were no products in the 4 to 5 year band. The 2 to 3 years band was the most popular but these fell by 24 products.

Fixed Rate Mortgages – Subsequent Buyer Market

Fixed rate products in the category fell by 160 excluding 39 stepped. The most popular was the 2 to 3 year band with 666 products the same as last month.