The Housing Finance System

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A. Primary Housing Finance Market

A.1 Industry Structure and Performance
VariableEnd of 2012End of 2011End of 2010SourcesVar ID
Number of firms originating and funding mortgage loans 144123
Product Sales Data (PSD) Mortgage Trends by Financial Services Authority
A.1.1
Types of originating lenders/market share:A.1.2
Universal/ commercial banks 66% of total65% of total
Bank of England Statistics - Lending secured on dwellings
A.1.2.1
Other depository institutions (savings and loans/mutual savings and credit institutions) 19% of total19% of totalA.1.2.2
Non-depository financial institutions specialized in housing finance 15% of total15% of totalA.1.2.3
General non-depository financial institutions 1% of total1% of totalA.1.2.4
Others (e.g. insurance co, pension funds, labor tax funds) Non-applicableNon-applicable
 
A.1.2.5
Identify the 3 largest loan originating lenders Lloyds Banking Group, Santander, Nationwide BS Lloyds Banking Group, Santander, Nationwide BS
Council of Mortgage Lenders
A.1.3
Are there (quasi) public mortgage lenders: NoNo
 
A.1.4
Universal/ commercial banks NoNo
 
A.1.4.1
Other depository institutions (savings and loans/mutual savings and credit institutions) No No
 
A.1.4.2
Non-depository financial institutions specialized in housing finance No No
 
A.1.4.3
General non-depository financial institutions No No
 
A.1.4.4
Others (e.g. insurance co, pension funds, labor tax funds) No No
 
A.1.4.5
Typical lending spreads for mortgages 2.95%2.79%
Bank of England
A.1.5
Level of Non-Performing Mortgage Loans (90 days or more past due):A.1.6
as a % of # of loans 1.76%1.89%
Financial Services Authority
A.1.6.1
as a % of outstanding loan amount  2.47%
Financial Services Authority
A.1.6.2
Average 1997-2007 A.1.7
as a % of # of loans   .6%A.1.7.1
as a % of outstanding loan amount   .03%
Financial Services Authority
A.1.7.2
Lowest decile of the income distribution served by the dominant mortgage lenders 1 decile1 decile
CCHPR's estimate based on Family Resources Survey (FRS) produced by the Department for Work and Pensions
A.1.8
A.2 Size of Mortgage Finance Sector
VariableEnd of 2012End of 2011End of 2010SourcesVar ID
Total amount of home mortgage loans outstanding at the end of year in millions of USD: 1,687,434 USD (millions)1,667,950 USD (millions)
Financial Services Authority
A.2.1
Total amount of home mortgage loans outstanding at the end of year as % of GDP (current) 65.2%70.5%
Financial Services Authority, WEO
A.2.1.1
and as % of all credits outstanding 75.6%74.7%
Financial Services Authority, Bank of England
A.2.1.2
Total # of home mortgage loans outstanding at the end of year 13,628 thousand13,717 thousand
Financial Services Authority
A.2.2
Total amount of home mortgages made in calender year in millions of USD 243,395.24 USD (millions)226,313.85 USD (millions)
MLAR Statistics by Financial Services Authority
A.2.3
and as % of GDP (current)  10.07%10%
Financial Services Authority, WEO
A.2.3.1
and as % of all credits originated in calender year 47.8%47.6%
Financial Services Authority, Bank of England
A.2.3.2
Total # of home mortgage originations made in calender year 508.5 thousand538.4 thousand
Council of Mortgage Lenders
A.2.4
What % of total new mortgages is refinance? 42%36%
Council of Mortgage Lenders
A.2.5
A.3 Housing Finance Products
VariableEnd of 2012End of 2011End of 2010SourcesVar ID
Mortgage products as % of all mortgages (approx.) in local currency:A.3.1
Fixed rate for life of loan 62.5%52.2%
Product Sales Data (PSD) Trend Report by Financial Services Authority
A.3.1.1
Variable rate/indexed  36%
Financial Services
A.3.1.2
Variable rate/discretionary  17%
Financial Services
A.3.1.3
Other fully amortizing loans (e.g. Rollover) .8%.8%
Estimation based on Financial Services
A.3.1.4
Non-fully amoritizing loans (e.g. Price level adjusted/Interest only)  .1%.2%
Estimation based on Financial Services
A.3.1.5
Loans based on foreign currency as % of all mortgage products  %A.3.2
Most prevalent type of foreign currency mortgage used:A.3.3
Most frequent interest rates on fully amortizing:A.3.4
10 year fixed rate mortgage 4.21%4.65%
Bank of England (10 year, 75% loan-to-value mortgage for 2008, 2007); MLAR by Financial Services Authority (fixed rate for gross advances - 4-Q simple average for 2009 to 2011)
A.3.4.1
most common indexed ARM/10 year term 3.64%3.97%
Bank of England
A.3.4.2
discretionary ARM/10 year term 3.96%4.05%
Bank of England
A.3.4.3
5 year roll-over/10 year term 5.21%5.36%
Bank of England
A.3.4.4
Most frequent rate on interest only 10 yr FRM 4.64%5.29%
Council of Mortgage lenders
A.3.5
Typical lender fees associated with mortgage origination: A.3.6
Fixed in amount  320 USD 256 USD
home.co.uk(for 2010), rightmove.co.uk(for 2011)
A.3.6.1
as % of loan amount .2%.2%A.3.6.2
Typical third party fees associated with mortgage origination:A.3.7
Appraisal fees 600 USD 581 USD A.3.7.1
Title related fees 448 USD 434 USD
Land Registry
A.3.7.2
Legal fees 520 USD 504 USD
Right Move: rightmove.co.uk
A.3.7.3
Search fees 208 USD 202 USD A.3.7.4
Loan-to-Value (LTV) on first mortgage: A.3.8
Maximum LTV 9595
Financial Services Authority
A.3.8.1
Typical LTV at origination 8075
Council of Mortgage Lenders
A.3.8.2
Maximum term over which pmt is calculated?  40 years40 years
Various financial institutions' site Various financial institutions' site
A.3.9
Mortgage pmt-to-income ratio A.3.10
Maximum pmt-to-income ratio (HH income) Not availableNot available
 
A.3.10.1
Typical pmt-to-income ratio (HH income) Not availableNot available
 
A.3.10.3
A.4 Lending and Servicing Process
VariableEnd of 2012End of 2011End of 2010SourcesVar ID
Does the mortgage industry use standard principles/guidelines for underwriting? YesYes
Financial Services Authority
A.4.1
Which institutions define underwriting rules? A.4.2
Central Bank/Ministry of Finance YesYes
Bank of England
A.4.2.1
Secondary market facility YesYes
Various institutions' site
A.4.2.2
Major Lender YesYes
Various banks' site
A.4.2.3
Other YesYes
Financial Services Authority
A.4.2.4
Are loan originations conducted by others than employees of lenders? YesYes
Financial Services Authority
A.4.3
% of Originations done by brokers 50.6%48.6%
Financial Services Authority - "Product Sales Data (PSD) Mortgage Trends"
A.4.3.1
% of appraisals done by employees of lenders 75%75%
Council of Mortgage Lenders
A.4.4
Do third party servicing institutions exist?  YesYes
Financial Services Authority
A.4.5
% of loans serviced by originators/lenders 49.4%51.4%
Financial Services Authority - "Product Sales Data (PSD) Mortgage Trends"
A.4.6
A.5 Credit Risk Assessment
VariableEnd of 2012End of 2011End of 2010SourcesVar ID
Do credit bureaus exist?  YesYes
Information Commissioner's Office
A.5.2
Are there legal/regulatory constraints to gaining access to credit information? YesYes
Information Commissioner's Office
A.5.2.1
Is mortgage default insurance available? YesYes
Various Insurers' Site
A.5.3
When did it begin operating? many years since 20th centurymany years since 20th century
Editor
A.5.3.1
What is the typical MI product? Mortgage indemnity guarantee (MIG). A MIG is an insurance policy which covers the lender if a borrower default on the mortgage. It is sometimes called a mortgage insurance premium (MIP). If a borrower is borrowing 90% or more of the value of the property, the lender may insist that a borrower takes out a MIG. Mortgage indemnity guarantee (MIG). A MIG is an insurance policy which covers the lender if a borrower default on the mortgage. It is sometimes called a mortgage insurance premium (MIP). If a borrower is borrowing 90% or more of the value of the property, the lender may insist that a borrower takes out a MIG.
Shelter England
A.5.3.2
Number of private mortgage insurers 12
Editor
A.5.3.3
Are credit guarantee systems used?  YesYes
Department for Work And Pension
A.5.4
Is there public sponsored MI / guarantee? NoNo
Homes for Scotland
A.5.5
What share of total annual mortgage production is insured/guaranteed?  1%1%
Editor
A.5.7
B. Funding Sources for Mortgages and the Secondary Mortgage Market
VariableEnd of 2012End of 2011End of 2010SourcesVar ID
What are the main funding sources for mortgages?B.1
Retail funding (deposits/other) primaryprimaryB.1.1
Wholesale funding: loans from other banks or corporations quarternaryNon-applicable
Editor
B.1.2
Funding through mortgage bonds  Non-applicableNon-applicable
 
B.1.3
Funding through securitization of mortgages tertiarysecondaryB.1.4
Other  secondary 
Editor
B.1.5
What % of Residential Mortgage Backed Securities is issued by centralized conduit or liquidity facility?  100%100%
Financial Times, Deustche Bank
B.2
Who are the investors in RMBS? Domestic and international investment bankers at UK (and foreign, namely US & Europe) RMBS marketDomestic and international investment bankers at UK (and foreign, namely US & Europe) RMBS market
UK RMBS market e.g. HBSO sold RMBS
B.3
C. Housing Microfinance
VariableEnd of 2012End of 2011End of 2010SourcesVar ID
Are non-collateralized housing micro-finance loans offered?  NoNo
Editor
C.1
Types of lenders operating in the housing micro-finance (HMF) sector:C.2
Commercial banks NoNo
Editor
C.2.1
Specialized non-depository MFIs  NoNo
Editor
C.2.2
NGOs NoNo
Editor
C.2.3
Others NoNo
Editor
C.2.4
Level of NPLs (>90 days past due) in HMFC.4
Are non-collateralized but secured housing finance products offered (e.g. secured by pension or insurance savings) NoNo
Editor
C.5
back to top | Country Data:
Notes: "As a customer's right in ""Mortgages: Conduct of Business"" issued by Financial services Authority"
Notes: "As a customer's right in ""Mortgages: Conduct of Business"" issued by Financial services Authority"
Notes: "As a customer's right in ""Mortgages: Conduct of Business"" issued by Financial services Authority"
Notes: "Other" multiplied by proportion of mortgage subject to "capital & interest" repayment
Notes: "Other" multiplied by proportion of mortgage subject to "interest only" repayment
Notes: "Other" multiplied by proportion of mortgage subject to "interest only" repayment
Notes: "Support for Mortgage Interest; if a mortgage borrower is getting: •Income Support •income-based Jobseeker’s Allowance •income-related Employment and Support Allowance •Pension Credit (The primary aim of the Support for Mortgage Interest policy is to provide support for homeowners at risk of repossession.)"
Notes: "Support for Mortgage Interest; if a mortgage borrower is getting: •Income Support •income-based Jobseeker’s Allowance •income-related Employment and Support Allowance •Pension Credit (The primary aim of the Support for Mortgage Interest policy is to provide support for homeowners at risk of repossession.)"
Notes: "Support for Mortgage Interest; if a mortgage borrower is getting: •Income Support •income-based Jobseeker’s Allowance •income-related Employment and Support Allowance •Pension Credit (The primary aim of the Support for Mortgage Interest policy is to provide support for homeowners at risk of repossession.)"
Notes: "The UK has not needed to introduce specific secularization laws, as Firms can securities mortgages under the existing UK legal framework." (Financial Services Authority, 2007)
Notes: "The UK has not needed to introduce specific secularization laws, as Firms can securities mortgages under the existing UK legal framework." (Financial Services Authority, 2007)
Notes: "The UK has not needed to introduce specific secularization laws, as Firms can securities mortgages under the existing UK legal framework." (Financial Services Authority, 2007)
Notes: 90 percentile of the ratio. Other notes, see 3.10.3
Notes: 90 percentile of the ratio. Other notes, see 3.10.3
Notes: A very small proportion of Uk market<1% almost none of which are interest only. Modal rates on IO look similar to 10 year products and these are given
Notes: A very small proportion of Uk market<1% almost none of which are interest only. Modal rates on IO look similar to 10 year products and these are given
Notes: A very small proportion of Uk market<1% almost none of which are interest only. Modal rates on IO look similar to 10 year products and these are given
Notes: Annual Population Survey (16-64 year olds)
Notes: Annual Population Survey (16-64 year olds)
Notes: Annual Population Survey (16-64 year olds)
Notes: Annual Population Survey (16-64 year olds)
Notes: Annual Population Survey (16-64 year olds)
Notes: Council Tax has a disproportionate impact on renters. Housing benefit for renters is not in a form of tax benefits.
Notes: Council Tax has a disproportionate impact on renters. Housing benefit for renters is not in a form of tax benefits.
Notes: Data Protection Act helps to protect your interests by obliging organizations to manage the information they hold in a proper way. It states that anyone who processes personal information must comply with eight principles, which make sure that it is: •fairly and lawfully processed; •processed for limited purposes; •adequate, relevant and not excessive; •accurate and up to date; •not kept for longer than is necessary; •processed in line with your rights; •secure; and •not transferred to other countries without adequate protection.
Notes: Data Protection Act helps to protect your interests by obliging organizations to manage the information they hold in a proper way. It states that anyone who processes personal information must comply with eight principles, which make sure that it is: •fairly and lawfully processed; •processed for limited purposes; •adequate, relevant and not excessive; •accurate and up to date; •not kept for longer than is necessary; •processed in line with your rights; •secure; and •not transferred to other countries without adequate protection.
Notes: Data Protection Act helps to protect your interests by obliging organizations to manage the information they hold in a proper way. It states that anyone who processes personal information must comply with eight principles, which make sure that it is: •fairly and lawfully processed; •processed for limited purposes; •adequate, relevant and not excessive; •accurate and up to date; •not kept for longer than is necessary; •processed in line with your rights; •secure; and •not transferred to other countries without adequate protection.
Notes: Denominator: outstanding of total sterling net lending to individuals and housing associations.
Notes: England only.city center: the area around the core of a large city. other urban center: the area around towns and small cities, and also older urban areas which have been swallowed up by a metropolis.
Notes: England only.city center: the area around the core of a large city. other urban center: the area around towns and small cities, and also older urban areas which have been swallowed up by a metropolis.
Notes: Estimated from financial statistics about the mutual lenders and deposit takers sector, including building societies: deposit from individuals
Notes: Estimated from financial statistics about the mutual lenders and deposit takers sector, including building societies: deposit from individuals
Notes: Estimated from financial statistics about the mutual lenders and deposit takers sector, including building societies: deposit from individuals
Notes: Estimated from financial statistics about the mutual lenders and deposit takers sector, including building societies: deposit from wholesale
Notes: Estimated from financial statistics about the mutual lenders and deposit takers sector, including building societies: deposit from wholesale
Notes: Estimated from financial statistics about the mutual lenders and deposit takers sector, including building societies: deposit from wholesale
Notes: Figures provided for all completions - couldn't find a formal/informal breakdown. Figures are for the closest financial year
Notes: Figures provided for all completions - couldn't find a formal/informal breakdown. Figures are for the closest financial year
Notes: Financial Services Authority; Financial Stability Board (succeeded to Financial Stability Forum in April 2009)
Notes: Financial Services Authority; Financial Stability Board (succeeded to Financial Stability Forum in April 2009)
Notes: Financial Services Authority; Financial Stability Board (succeeded to Financial Stability Forum in April 2009)
Notes: Financial Services Authority; Financial Stability Board (succeeded to Financial Stability Forum in April 2009)
Notes: Financial Stability Review
Notes: Financial Stability Review
Notes: Financial Stability Review
Notes: Fiscal year base. * 1stQ of 2010.
Notes: Gross (pre-tax) household income. London only.
Notes: Gross (pre-tax) household income. London only.
Notes: Homeowners mortgage support scheme started in April 2009.
Notes: In the jurisdiction of Property Law. (Consumer Credit Act 2006 and Financial Services and Markets Act are highly relevant.)
Notes: Internal rule
Notes: Internal rule
Notes: Internal rule
Notes: Internal rule
Notes: Internal rule
Notes: Internal rule
Notes: Land Registry fee rose to £280 (for £200,001 - £500,000) in July 2009
Notes: Land Registry fee rose to £280 (for £200,001 - £500,000) in July 2009
Notes: Land Registry fee rose to £280 (for £200,001 - £500,000) in July 2009
Notes: Land Registry, which is the government department responsible for the land/property registers for England and Wale, has been aiming to process registrations within 12 days from the application day, and more than 80% of registration processes meet the target.
Notes: Legal system is well organised for lines. However, local governments has Mortgage Rescue Scheme or Repossession Prevention Scheme to protect borrowers.
Notes: Legal system is well organised for lines. However, local governments has Mortgage Rescue Scheme or Repossession Prevention Scheme to protect borrowers.
Notes: Legal system is well organised for lines. However, local governments has Mortgage Rescue Scheme or Repossession Prevention Scheme to protect borrowers.
Notes: Median of percent advance for first time buyers
Notes: Median of percent advance for first time buyers
Notes: Median of percent advance for first time buyers
Notes: Normally more than this value
Notes: Normally more than this value
Notes: Normally more than this value
Notes: Payment: Sum of interest, capital repayment and mortgage protection premium. Income: income and allowances
Notes: Payment: Sum of interest, capital repayment and mortgage protection premium. Income: income and allowances
Notes: Pension Credit Guarantee Credit could be given to elderly people who have certain housing costs, such as mortgage interest payments.
Notes: Rent to HomeBuy
Notes: Several shared ownership scheme other than Rent to HomeBuy; and Mortgage Interest Run On (MIRO) -- four weeks of money you can get towards paying your housing costs
Notes: Standard variable + discounted variable
Notes: Standard variable + discounted variable
Notes: Subsidy for ailing banks/building societies
Notes: Subsidy for ailing banks/building societies
Notes: Subsidy for ailing banks/building societies
Notes: Tax free policy for mortgage payment protection insurance
Notes: Tax free policy for mortgage payment protection insurance
Notes: The lowest quartile
Notes: The lowest quartile
Notes: The methodology used to calculate these series has changed from January 2008 onwards. These changes have been applied to the combined bank and building society series historically dating back to January 2005 for consistency.
Notes: The national income distribution figures are used. This is this lowest income level of any type of adult (i.e., not income of a household).
Notes: The national income distribution figures are used. This is this lowest income level of any type of adult (i.e., not income of a household).
Notes: The National Minimum Wage, which is not applied to Agriculatural Appentice. Up to 2009, for 22 y.o. or older. For 2010 and 2011, 21 y.o. or older. It is an hourly rate -- the conversion to a monthly rate based on 7.5 hours/day and 20 days/month.
Notes: The National Minimum Wage, which is not applied to Agriculatural Appentice. Up to 2009, for 22 y.o. or older. For 2010 and 2011, 21 y.o. or older. It is an hourly rate -- the conversion to a monthly rate based on 7.5 hours/day and 20 days/month.
Notes: The Scottish Government has launched a mortgage indemnity scheme to help more first-time buyers get on the property ladder since 29 June 2011.
Notes: The Scottish Government has launched a mortgage indemnity scheme to help more first-time buyers get on the property ladder since 29 June 2011.
Notes: The Scottish Government has launched a mortgage indemnity scheme to help more first-time buyers get on the property ladder since 29 June 2011.
Notes: Tracker
Notes: Tracker
Notes: Tracker
Notes: Traditionally, UK mortgage lenders use Master Trust programmes to issue RMBS-- namely; Mounds -- HBOS (Bank of Scotland); Gracechurch – Barclays; Permanent – HBOS (Halifax); Arkle – Cheltenham & Gloucester; Holmes – Abbey; Lothian – Standard Life; Fosse – Alliance & Leicester. Values are approximate.
Notes: Traditionally, UK mortgage lenders use Master Trust programmes to issue RMBS-- namely; Mounds -- HBOS (Bank of Scotland); Gracechurch – Barclays; Permanent – HBOS (Halifax); Arkle – Cheltenham & Gloucester; Holmes – Abbey; Lothian – Standard Life; Fosse – Alliance & Leicester. Values are approximate.
Notes: Trivial. "Very few people know that it is possible to obtain a foreign currency mortgage for UK residential properties (http://www.internationalmortgagebrokers.co.uk/foreign-currency-mortgages/foreign-currency-mortgages.html)"
Notes: Trivial. "Very few people know that it is possible to obtain a foreign currency mortgage for UK residential properties (http://www.internationalmortgagebrokers.co.uk/foreign-currency-mortgages/foreign-currency-mortgages.html)"
Notes: Trivial. "Very few people know that it is possible to obtain a foreign currency mortgage for UK residential properties (http://www.internationalmortgagebrokers.co.uk/foreign-currency-mortgages/foreign-currency-mortgages.html)"
Notes: Values are typically <90%
Notes: Values are typically <90%
Notes: Values are typically <90%
Notes:
Notes:
Notes:
Notes: "As a customer's right in ""Mortgages: Conduct of Business"" issued by Financial services Authority"
Notes: "As a customer's right in ""Mortgages: Conduct of Business"" issued by Financial services Authority"
Notes: "For selling, You do not have to pay tax as long as: •you bought it, and incurred any expenditure on it, primarily to use it as your home rather than with a view to making a profit on its sale •the property was your only home throughout the period you owned it (ignoring the last three years of ownership) •you did actually use it as your home all the time that you owned it and, throughout that period, you did not use it for any purpose other than as a home for yourself, your family and no more than one lodger •the garden and area of grounds sold with it does not exceed 5,000 square metres (about one and a quarter acres) including the site of the house "
Notes: "For selling, You do not have to pay tax as long as: •you bought it, and incurred any expenditure on it, primarily to use it as your home rather than with a view to making a profit on its sale •the property was your only home throughout the period you owned it (ignoring the last three years of ownership) •you did actually use it as your home all the time that you owned it and, throughout that period, you did not use it for any purpose other than as a home for yourself, your family and no more than one lodger •the garden and area of grounds sold with it does not exceed 5,000 square metres (about one and a quarter acres) including the site of the house "
Notes: "For selling, You do not have to pay tax as long as: •you bought it, and incurred any expenditure on it, primarily to use it as your home rather than with a view to making a profit on its sale •the property was your only home throughout the period you owned it (ignoring the last three years of ownership) •you did actually use it as your home all the time that you owned it and, throughout that period, you did not use it for any purpose other than as a home for yourself, your family and no more than one lodger •the garden and area of grounds sold with it does not exceed 5,000 square metres (about one and a quarter acres) including the site of the house "
Notes: "For selling, You do not have to pay tax as long as: •you bought it, and incurred any expenditure on it, primarily to use it as your home rather than with a view to making a profit on its sale •the property was your only home throughout the period you owned it (ignoring the last three years of ownership) •you did actually use it as your home all the time that you owned it and, throughout that period, you did not use it for any purpose other than as a home for yourself, your family and no more than one lodger •the garden and area of grounds sold with it does not exceed 5,000 square metres (about one and a quarter acres) including the site of the house "
Notes: "For selling, You do not have to pay tax as long as: •you bought it, and incurred any expenditure on it, primarily to use it as your home rather than with a view to making a profit on its sale •the property was your only home throughout the period you owned it (ignoring the last three years of ownership) •you did actually use it as your home all the time that you owned it and, throughout that period, you did not use it for any purpose other than as a home for yourself, your family and no more than one lodger •the garden and area of grounds sold with it does not exceed 5,000 square metres (about one and a quarter acres) including the site of the house"
Notes: "Other" multiplied by proportion of mortgage subject to "capital & interest" repayment
Notes: "Other" multiplied by proportion of mortgage subject to "capital & interest" repayment
Notes: "Other" multiplied by proportion of mortgage subject to "capital & interest" repayment
Notes: "Other" multiplied by proportion of mortgage subject to "capital & interest" repayment
Notes: "Other" multiplied by proportion of mortgage subject to "interest only" repayment
Notes: "Other" multiplied by proportion of mortgage subject to "interest only" repayment
Notes: "Other" multiplied by proportion of mortgage subject to "interest only" repayment
Notes: "Support for Mortgage Interest; if a mortgage borrower is getting: •Income Support •income-based Jobseeker’s Allowance •income-related Employment and Support Allowance •Pension Credit (The primary aim of the Support for Mortgage Interest policy is to provide support for homeowners at risk of repossession.)"
Notes: "Support for Mortgage Interest; if a mortgage borrower is getting: •Income Support •income-based Jobseeker’s Allowance •income-related Employment and Support Allowance •Pension Credit (The primary aim of the Support for Mortgage Interest policy is to provide support for homeowners at risk of repossession.)"
Notes: "The fees themselves vary considerably between lenders and depend on the size of the property; they usually start from around £200." (rightmove.co.uk)
Notes: "The fees themselves vary considerably between lenders and depend on the size of the property; they usually start from around £200." (rightmove.co.uk)
Notes: "The UK has not needed to introduce specific secularization laws, as Firms can securities mortgages under the existing UK legal framework." (Financial Services Authority, 2007)
Notes: "The UK has not needed to introduce specific secularization laws, as Firms can securities mortgages under the existing UK legal framework." (Financial Services Authority, 2007)
Notes: % of # of mortgages 6 months or more in arrears. Simple average of 11 annual figures of 2001 to 2006..
Notes: % of mortgage book for building societies. Simple average of 4thQ figures of 2001 to 2006.
Notes: 12-month average for Monthly interest rate of UK monetary financial institutions (excl. Central Bank) sterling time deposits households
Notes: 12-month average for Monthly interest rate of UK monetary financial institutions (excl. Central Bank) sterling time deposits households
Notes: 12-month average for Monthly interest rate of UK monetary financial institutions (excl. Central Bank) sterling time deposits households
Notes: 12-month average for Monthly interest rate of UK monetary financial institutions (excl. Central Bank) sterling time deposits households
Notes: 12-month average for Monthly interest rate of UK monetary financial institutions (excl. Central Bank) sterling time deposits households
Notes: 5 year fixed, 75% LTV. 12-month simple average.
Notes: 5 year fixed, 75% LTV. 12-month simple average.
Notes: 5 year fixed, 75% LTV. 12-month simple average.
Notes: 5 year fixed, 75% LTV. 12-month simple average.
Notes: 5 year fixed, 75% LTV. 12-month simple average.
Notes: 90 percentile of the ratio. Other notes, see 3.10.3
Notes: A very small proportion of Uk market<1% almost none of which are interest only. Modal rates on IO look similar to 10 year products and these are given
Notes: A very small proportion of Uk market<1% almost none of which are interest only. Modal rates on IO look similar to 10 year products and these are given
Notes: Annual Population Survey (16-64 year olds)
Notes: Annual Population Survey (16-64 year olds)
Notes: Annual Population Survey (16-64 year olds)
Notes: Annual Population Survey (16-64 year olds)
Notes: Annual Population Survey (16-64 year olds)
Notes: As of Q4. Total of 1st charge loans, 2nd and subsequent charge loans (where the borrower takes an extra loan from another lender) and some further advance loans ( This applies in cases where a 1st charge lender grants a further advance on the original mortgage, but for administrative purposes treats it as a separate loan account). Total of regulated and unregulated. Unsecuritized loans.
Notes: As of Q4. Total of 1st charge loans, 2nd and subsequent charge loans (where the borrower takes an extra loan from another lender) and some further advance loans ( This applies in cases where a 1st charge lender grants a further advance on the original mortgage, but for administrative purposes treats it as a separate loan account). Total of regulated and unregulated. Unsecuritized loans.
Notes: As of Q4. Total of 1st charge loans, 2nd and subsequent charge loans (where the borrower takes an extra loan from another lender) and some further advance loans ( This applies in cases where a 1st charge lender grants a further advance on the original mortgage, but for administrative purposes treats it as a separate loan account). Total of regulated and unregulated. Unsecuritized loans.
Notes: As of Q4. Total of 1st charge loans, 2nd and subsequent charge loans (where the borrower takes an extra loan from another lender) and some further advance loans ( This applies in cases where a 1st charge lender grants a further advance on the original mortgage, but for administrative purposes treats it as a separate loan account). Total of regulated and unregulated. Unsecuritized loans.
Notes: As of Q4. Total of 1st charge loans, 2nd and subsequent charge loans (where the borrower takes an extra loan from another lender) and some further advance loans ( This applies in cases where a 1st charge lender grants a further advance on the original mortgage, but for administrative purposes treats it as a separate loan account). Total of regulated and unregulated. Unsecuritized loans.
Notes: Bank of England Consolidated Market Notice: Special Liquidity Scheme
Notes: Bank of England Consolidated Market Notice: Special Liquidity Scheme
Notes: Bank of England Consolidated Market Notice: Special Liquidity Scheme
Notes: Bank of England Consolidated Market Notice: Special Liquidity Scheme
Notes: Bank of England Consolidated Market Notice: Special Liquidity Scheme
Notes: based on compound interest to achieve an increase of 208.14% over 10 years.
Notes: Based on household gross income in GB urban areas. Each year sets out the 3-year average income -- e.g., the 2010 average income is the average from 2009 to 2011.
Notes: Based on household gross income in GB urban areas. Each year sets out the 3-year average income -- e.g., the 2010 average income is the average from 2009 to 2011.
Notes: Based on household gross income in GB urban areas. Each year sets out the 3-year average income -- e.g., the 2010 average income is the average from 2009 to 2011.
Notes: Based on household gross income in GB urban areas. Each year sets out the 3-year average income -- e.g., the 2010 average income is the average from 2009 to 2011.
Notes: Based on household gross income in GB urban areas. Each year sets out the 3-year average income -- e.g., the 2010 average income is the average from 2009 to 2011. Deflator is Consumer Price Index
Notes: Based on household gross income in GB urban areas. Each year sets out the 3-year average income -- e.g., the 2010 average income is the average from 2009 to 2011. Deflator is Consumer Price Index
Notes: Based on household gross income in GB urban areas. Each year sets out the 3-year average income -- e.g., the 2010 average income is the average from 2009 to 2011. Deflator is Consumer Price Index
Notes: Based on household gross income in GB urban areas. Each year sets out the 3-year average income -- e.g., the 2010 average income is the average from 2009 to 2011. Deflator is Consumer Price Index
Notes: Consumer Credit Act abolished a statutory ceiling
Notes: Consumer Credit Act abolished a statutory ceiling
Notes: Consumer Credit Act abolished a statutory ceiling
Notes: Consumer Credit Act abolished a statutory ceiling
Notes: Consumer Credit Act abolished a statutory ceiling
Notes: Council Tax has a disproportionate impact on renters. Housing benefit for renters is not in a form of tax benefits.
Notes: Council Tax has a disproportionate impact on renters. Housing benefit for renters is not in a form of tax benefits.
Notes: Council Tax has a disproportionate impact on renters. Housing benefit for renters is not in a form of tax benefits.
Notes: Council Tax is tax on residential property, regardless of ownership; that is, renters also have to pay for their homes.
Notes: Council Tax is tax on residential property, regardless of ownership; that is, renters also have to pay for their homes.
Notes: Council Tax is tax on residential property, regardless of ownership; that is, renters also have to pay for their homes.
Notes: Council Tax is tax on residential property, regardless of ownership; that is, renters also have to pay for their homes.
Notes: Council Tax is tax on residential property, regardless of ownership; that is, renters also have to pay for their homes.
Notes: Currently the Financial Services Authority does not place a ceiling.
Notes: Currently the Financial Services Authority does not place a ceiling.
Notes: Currently the Financial Services Authority does not place a ceiling.
Notes: Currently the Financial Services Authority does not place a ceiling.
Notes: Currently the Financial Services Authority does not place a ceiling.
Notes: Data in Square Meters for England only
Notes: Data in Square Meters for England only
Notes: Data in Square Meters for England only
Notes: Data in Square Meters for England only
Notes: Data Protection Act helps to protect your interests by obliging organizations to manage the information they hold in a proper way. It states that anyone who processes personal information must comply with eight principles, which make sure that it is: •fairly and lawfully processed; •processed for limited purposes; •adequate, relevant and not excessive; •accurate and up to date; •not kept for longer than is necessary; •processed in line with your rights; •secure; and •not transferred to other countries without adequate protection.
Notes: Data Protection Act helps to protect your interests by obliging organizations to manage the information they hold in a proper way. It states that anyone who processes personal information must comply with eight principles, which make sure that it is: •fairly and lawfully processed; •processed for limited purposes; •adequate, relevant and not excessive; •accurate and up to date; •not kept for longer than is necessary; •processed in line with your rights; •secure; and •not transferred to other countries without adequate protection.
Notes: Denominator: outstanding of total sterling net lending to individuals and housing associations.
Notes: Denominator: outstanding of total sterling net lending to individuals and housing associations.
Notes: Denominator: outstanding of total sterling net lending to individuals and housing associations.
Notes: Denominator: outstanding of total sterling net lending to individuals and housing associations.
Notes: England only. # of property sales based on Land Registry data in in 75 local authorities, which were classified as 'major urban' by Department for Environment, Food and Rural Affairs (DEFRA) based on the 2001 Census.
Notes: England only. # of property sales based on Land Registry data in in 75 local authorities, which were classified as 'major urban' by Department for Environment, Food and Rural Affairs (DEFRA) based on the 2001 Census.
Notes: England only. # of property sales based on Land Registry data in in 75 local authorities, which were classified as 'major urban' by Department for Environment, Food and Rural Affairs (DEFRA) based on the 2001 Census.
Notes: England only. # of property sales based on Land Registry data in in 75 local authorities, which were classified as 'major urban' by Department for Environment, Food and Rural Affairs (DEFRA) based on the 2001 Census.
Notes: England only. (Failure % of Decent Home Standard)
Notes: England only. (Failure % of Decent Home Standard)
Notes: England only. (Failure % of Decent Home Standard)
Notes: England only. (Failure % of Decent Home Standard)
Notes: England only. Dwelling base (i.e., not Household count base).
Notes: England only. Dwelling base (i.e., not Household count base).
Notes: England only. Dwelling base (i.e., not Household count base).
Notes: England only. Dwelling base (i.e., not Household count base).
Notes: England only.city center: the area around the core of a large city. other urban center: the area around towns and small cities, and also older urban areas which have been swallowed up by a metropolis.
Notes: England only.city center: the area around the core of a large city. other urban center: the area around towns and small cities, and also older urban areas which have been swallowed up by a metropolis.
Notes: Estimated by ratio of owner occupiers with mortgages to all owner occupiers in London
Notes: Estimated from financial statistics about the mutual lenders and deposit takers sector, including building societies: deposit from individuals
Notes: Estimated from financial statistics about the mutual lenders and deposit takers sector, including building societies: deposit from wholesale
Notes: Estimated from financial statistics about the mutual lenders and deposit takers sector. Primary funding source is securitization, some mortgage bonds and other market funding.
Notes: Estimated from financial statistics about the mutual lenders and deposit takers sector. This part includes securitization, some mortgage bonds and other market funding.
Notes: Estimated from financial statistics about the mutual lenders and deposit takers sector. This part includes securitization, some mortgage bonds and other market funding.
Notes: Estimated from financial statistics about the mutual lenders and deposit takers sector. This part includes securitization, some mortgage bonds and other market funding.
Notes: Figures provided for all completions - couldn't find a formal/informal breakdown. Figures are for the closest financial year
Notes: Figures provided for all completions - couldn't find a formal/informal breakdown. Figures are for the closest financial year
Notes: Figures provided for all completions - couldn't find a formal/informal breakdown. Figures are for the closest financial year
Notes: Financial Services Authority; Financial Stability Board (succeeded to Financial Stability Forum in April 2009)
Notes: Financial Stability Review
Notes: Financial Stability Review
Notes: Financial year (March to April). # of sales base (amount base is not available).
Notes: Financial year (March to April). # of sales base (amount base is not available).
Notes: Financial year (March to April). # of sales base (amount base is not available).
Notes: Financial year (March to April). # of sales base (amount base is not available).
Notes: Financial year (March to April). # of sales base (amount base is not available).
Notes: Fiscal year base. * 1stQ of 2010.
Notes: Fiscal year base. * 1stQ of 2010.
Notes: Fiscal year base. * 1stQ of 2010.
Notes: Fiscal year base. * 1stQ of 2010.
Notes: Gross (pre-tax) household income. London only.
Notes: Gross (pre-tax) household income. London only.
Notes: Gross (pre-tax) household income. London only.
Notes: Homebuyer's report costs £250 -£500. ( For more comprehensive survey such as building structure survey, the fee is £1000 plus.)
Notes: Homebuyer's report costs £250 -£500. ( For more comprehensive survey such as building structure survey, the fee is £1000 plus.)
Notes: Homeowners mortgage support scheme started in April 2009.
Notes: Homeowners mortgage support scheme started in April 2009.
Notes: Homeowners mortgage support scheme started in April 2009.
Notes: Homeowners mortgage support scheme started in April 2009.
Notes: However, lenders must act within a statutory regime for regulating mortgages Mortgage Conduct of Business set by the Financial Services Authority in October 2004.
Notes: However, lenders must act within a statutory regime for regulating mortgages Mortgage Conduct of Business set by the Financial Services Authority in October 2004.
Notes: However, lenders must act within a statutory regime for regulating mortgages Mortgage Conduct of Business set by the Financial Services Authority in October 2004.
Notes: However, lenders must act within a statutory regime for regulating mortgages Mortgage Conduct of Business set by the Financial Services Authority in October 2004.
Notes: However, lenders must act within a statutory regime for regulating mortgages Mortgage Conduct of Business set by the Financial Services Authority in October 2004.
Notes: In the jurisdiction of Property Law. (Consumer Credit Act 2006 and Financial Services and Markets Act are highly relevant.)
Notes: In the jurisdiction of Property Law. (Consumer Credit Act 2006 and Financial Services and Markets Act are highly relevant.)
Notes: In the jurisdiction of Property Law. (Consumer Credit Act 2006 and Financial Services and Markets Act are highly relevant.)
Notes: In the jurisdiction of Property Law. (Consumer Credit Act 2006 and Financial Services and Markets Act are highly relevant.)
Notes: In the UK all formal transactions are registered with the Land Registry or equivalent organisation
Notes: In the UK all formal transactions are registered with the Land Registry or equivalent organisation
Notes: In the UK all formal transactions are registered with the Land Registry or equivalent organisation
Notes: In the UK all formal transactions are registered with the Land Registry or equivalent organization
Notes: inlcluded in the above category
Notes: inlcluded in the above category
Notes: inlcluded in the above category
Notes: inlcluded in the above category
Notes: inlcluded in the above category
Notes: Inner London data. The assumption: a. House sizes between 100-280m2; b. standard quality; c. including a garage (one car with a flat roof); d. traditional brick/block.
Notes: Inner London data. The assumption: a. House sizes between 100-280m2; b. standard quality; c. including a garage (one car with a flat roof); d. traditional brick/block.
Notes: Internal Rule
Notes: Internal rule
Notes: Internal rule
Notes: Internal rule
Notes: Land Registry fee rose to £280 (for £200,001 - £500,000) in July 2009
Notes: Land Registry fee rose to £280 (for £200,001 - £500,000) in July 2009. Next fee change was 22 October 2012.
Notes: Land Registry, which is the government department responsible for the land/property registers for England and Wale, has been aiming to process registrations within 12 days from the application day, and more than 80% of registration processes meet the target.
Notes: Land Registry, which is the government department responsible for the land/property registers for England and Wale, has been aiming to process registrations within 12 days from the application day, and more than 80% of registration processes meet the target.
Notes: Land Registry, which is the government department responsible for the land/property registers for England and Wale, has been aiming to process registrations within 12 days from the application day, and more than 80% of registration processes meet the target.
Notes: Land Registry, which is the government department responsible for the land/property registers for England and Wale, has been aiming to process registrations within 12 days from the application day, and more than 80% of registration processes meet the target.
Notes: Legal system is well organised for lines. However, local governments has Mortgage Rescue Scheme or Repossession Prevention Scheme to protect borrowers.
Notes: Legal system is well organised for lines. However, local governments has Mortgage Rescue Scheme or Repossession Prevention Scheme to protect borrowers.
Notes: Lending secured on dwellings; *banks and building societies have been discontinued from January 2010 onwards.; as of Decembe
Notes: Lending secured on dwellings; *banks and building societies have been discontinued from January 2010 onwards.; as of December
Notes: Lending secured on dwellings; *banks and building societies have been discontinued from January 2010 onwards.; as of December
Notes: Lending secured on dwellings; *banks and building societies have been discontinued from January 2010 onwards.; as of December
Notes: Lending secured on dwellings; *banks and building societies have been discontinued from January 2010 onwards.; as of December
Notes: Lending secured on dwellings; *banks and building societies have been discontinued from January 2010 onwards.; as of December
Notes: Lending secured on dwellings; *banks and building societies have been discontinued from January 2010 onwards.; as of December
Notes: Lending secured on dwellings; *banks and building societies have been discontinued from January 2010 onwards.; as of December
Notes: Lending secured on dwellings; *banks and building societies have been discontinued from January 2010 onwards.; as of December
Notes: Lending secured on dwellings; *banks and building societies have been discontinued from January 2010 onwards.; as of December
Notes: Lending secured on dwellings; as of December
Notes: Lending secured on dwellings; as of December
Notes: Lending secured on dwellings; as of December
Notes: Lending secured on dwellings; as of December
Notes: Lending secured on dwellings; as of December
Notes: Lifetime Tracker. 12-month simple average.
Notes: Lifetime Tracker. 12-month simple average.
Notes: Lifetime Tracker. 12-month simple average.
Notes: Lifetime Tracker. 12-month simple average.
Notes: Lifetime Tracker. 12-month simple average.
Notes: Local authority search fee (£60) and other search fee (£70).
Notes: Local authority search fee (£60) and other search fee (£70).
Notes: London data. Including new housing figures. Provisional (the 3rd quarter figure) According to DCLG, there is no separation in statistics between new and existing. This is perhaps because when existing homes are on sale, they are often refurbished around at the standard of new building.
Notes: London only. Including new housing figures. According to DCLG, there is no separation in statistics between new and existing. This is perhaps because when existing homes are on sale, they are often refurbished around at the standard of new building.
Notes: London only. Including new housing figures. According to DCLG, there is no separation in statistics between new and existing. This is perhaps because when existing homes are on sale, they are often refurbished around at the standard of new building.
Notes: London only. Including new housing figures. According to DCLG, there is no separation in statistics between new and existing. This is perhaps because when existing homes are on sale, they are often refurbished around at the standard of new building.
Notes: London only. Including new housing figures. According to DCLG, there is no separation in statistics between new and existing. This is perhaps because when existing homes are on sale, they are often refurbished around at the standard of new building.
Notes: London. Rates were calculated with prices in £ terms. The 2011 rate is based on the provisonal (the 3rd quarter) price.
Notes: London. Rates were calculated with prices in £ terms. The 2011 rate is based on the provisonal (the 3rd quarter) price.
Notes: London. Rates were calculated with prices in £ terms. The 2011 rate is based on the provisonal (the 3rd quarter) price.
Notes: London. Rates were calculated with prices in £ terms. The 2011 rate is based on the provisonal (the 3rd quarter) price.
Notes: London. Rates were calculated with prices in £ terms. The 2011 rate is based on the provisonal (the 3rd quarter) price.
Notes: London. Ratio of median house price to median earnings
Notes: London. Ratio of median house price to median earnings
Notes: London. Ratio of median house price to median earnings
Notes: London. Ratio of median house price to median earnings
Notes: London. Ratio of median house price to median earnings. The 2011 ratio is provisional.
Notes: Median for first time buyers. * December 2011.
Notes: Median of percent advance for first time buyers
Notes: Mortgage interest relief was withdrawn in April 2000
Notes: Mortgage interest relief was withdrawn in April 2000
Notes: Mortgage interest relief was withdrawn in April 2000
Notes: Mortgage interest relief was withdrawn in April 2000
Notes: Mortgage interest relief was withdrawn in April 2000
Notes: National data is not available. Generally speaking, national prices/indices on property market have proxy to those in the South West region. For reference, thus, the region's figure is set out. The assumption: a. House sizes between 100-280m2; b. standard quality; c. including a garage (one car with a flat roof); d. traditional brick/block. This approximate price does not include Value added tax, cost of buying a building plot, professional fees & legal charges and Insurances & the cost of borrowing.
Notes: National data is not available. Generally speaking, national prices/indices on property market have proxy to those in the South West region. For reference, thus, the region's figure is set out. The assumption: a. House sizes between 100-280m2; b. standard quality; c. including a garage (one car with a flat roof); d. traditional brick/block. This approximate price does not include Value added tax, cost of buying a building plot, professional fees & legal charges and Insurances & the cost of borrowing.
Notes: Normally more than this value
Notes: Normally more than this value
Notes: Numerator: # of customers receiving Support for Mortgage Interest (for 2011, as at Feb/12; for 2009 as at Nov/09); Denominator: # of mortgage loan accounts in (Q1/12 and Q4/09 respectively).
Notes: Numerator: # of customers receiving Support for Mortgage Interest as at November 2009; Denominator: # of mortgage loan accounts in Q4 2009.
Notes: On 24 November 2008 the then Government announced a series of measures designed to assist homeowners during the financial crisis, one of which stated: Agreement with major lenders to wait at least three months before initiating repossession proceedings, in order to explore all other alternatives. The Government has also welcomed the commitment by lenders to look at all possible options to prevent repossession, such as reducing payments and mortgage rescue schemes.
Notes: On 24 November 2008 the then Government announced a series of measures designed to assist homeowners during the financial crisis, one of which stated: Agreement with major lenders to wait at least three months before initiating repossession proceedings, in order to explore all other alternatives. The Government has also welcomed the commitment by lenders to look at all possible options to prevent repossession, such as reducing payments and mortgage rescue schemes.
Notes: On 24 November 2008 the then Government announced a series of measures designed to assist homeowners during the financial crisis, one of which stated: Agreement with major lenders to wait at least three months before initiating repossession proceedings, in order to explore all other alternatives. The Government has also welcomed the commitment by lenders to look at all possible options to prevent repossession, such as reducing payments and mortgage rescue schemes.
Notes: On 24 November 2008 the then Government announced a series of measures designed to assist homeowners during the financial crisis, one of which stated: Agreement with major lenders to wait at least three months before initiating repossession proceedings, in order to explore all other alternatives. The Government has also welcomed the commitment by lenders to look at all possible options to prevent repossession, such as reducing payments and mortgage rescue schemes.
Notes: Outer London data. The assumption: a. House sizes between 100-280m2; b. standard quality; c. including a garage (one car with a flat roof); d. traditional brick/block.
Notes: Outer London data. The assumption: a. House sizes between 100-280m2; b. standard quality; c. including a garage (one car with a flat roof); d. traditional brick/block.
Notes: Payment: Sum of interest, capital repayment and mortgage protection premium. Income: income and allowances
Notes: Pension Credit Guarantee Credit could be given to elderly people who have certain housing costs, such as mortgage interest payments.
Notes: Pension Credit Guarantee Credit could be given to elderly people who have certain housing costs, such as mortgage interest payments.
Notes: Pension Credit Guarantee Credit could be given to elderly people who have certain housing costs, such as mortgage interest payments.
Notes: Provider Firms
Notes: Provider Firms
Notes: Provider Firms
Notes: Provider Firms
Notes: Provider Firms
Notes: Rent to HomeBuy
Notes: Rent to HomeBuy
Notes: Rent to HomeBuy
Notes: Rent to HomeBuy
Notes: Several shared ownership scheme other than Rent to HomeBuy; and Mortgage Interest Run On (MIRO) -- four weeks of money you can get towards paying your housing costs
Notes: Several shared ownership scheme other than Rent to HomeBuy; and Mortgage Interest Run On (MIRO) -- four weeks of money you can get towards paying your housing costs
Notes: Several shared ownership scheme other than Rent to HomeBuy; and Mortgage Interest Run On (MIRO) -- four weeks of money you can get towards paying your housing costs
Notes: Several shared ownership scheme other than Rent to HomeBuy; and Mortgage Interest Run On (MIRO) -- four weeks of money you can get towards paying your housing costs
Notes: shares/equity in building societies
Notes: Short term Government bond yield.
Notes: Short term Government bond yield.
Notes: Short term Government bond yield.
Notes: Short term Government bond yield.
Notes: Short term Government bond yield.
Notes: Spreads over Bank Rate for mortgages whose loan to value ratio falling in the 66%-75% range.
Notes: Spreads over Bank Rate for mortgages whose loan to value ratio falling in the 66%-75% range.
Notes: Spreads over Bank Rate for mortgages whose loan to value ratio falling in the 66%-75% range.
Notes: Spreads over Bank Rate for mortgages whose loan to value ratio falling in the 66%-75% range. As of March 2011
Notes: Spreads over Bank Rate for mortgages whose loan to value ratio falling in the 66%-75% range. As of March 2012.
Notes: Standard variable + discounted variable
Notes: Standard variable + discounted variable
Notes: Standard Variable. 12-month simple average.
Notes: Standard Variable. 12-month simple average.
Notes: Standard Variable. 12-month simple average.
Notes: Standard Variable. 12-month simple average.
Notes: Standard Variable. 12-month simple average.
Notes: Subsidy for ailing banks/building societies
Notes: Subsidy for ailing banks/building societies
Notes: Tax free policy for mortgage payment protection insurance
Notes: Tax free policy for mortgage payment protection insurance
Notes: Tax free policy for mortgage payment protection insurance
Notes: The cost varies and no official data. In Survey by Scotland, the cost includes, court costs and costs during the repossession process - the latter consists of solicitors costs, lenders fee ( if repossessed), fee for every month the account is in arrears, cost of reviewing file and pass it on to solicitors, and legal fees including letters. The estimate is a case of 6-month arrear, using outstanding debt at the time of repossession.
Notes: The court files suggest that lenders tend to apply for possession when there are around 2 or 3 months arrearsSouth West Councils, 2009). On the hands, there exists cases with mortgages 12 months or more in arrears in the statistics of the CLG over the relevant period.
Notes: The fee you pay the solicitor or conveyancer for working for you. For a £150,000 property, expect to pay at least £325 + VAT.
Notes: The fee you pay the solicitor or conveyancer for working for you. For a £150,000 property, expect to pay at least £325 + VAT.
Notes: The great majority of the recipient of income supports subject to 2.1.2 and 2.1.6 belonged to the lowest quartile of income distribution.
Notes: The great majority of the recipient of income supports subject to 2.1.2 and 2.1.6 belonged to the lowest quartile of income distribution.
Notes: The great majority of the recipient of income supports subject to 2.1.2 and 2.1.6 belonged to the lowest quartile of income distribution.
Notes: The great majority of the recipient of income supports subject to 2.1.2 and 2.1.6 belonged to the lowest quartile of income distribution.
Notes: The lowest quartile
Notes: The lowest quartile
Notes: The methodology used to calculate these series has changed from January 2008 onwards. These changes have been applied to the combined bank and building society series historically dating back to January 2005 for consistency.
Notes: The methodology used to calculate these series has changed from January 2008 onwards. These changes have been applied to the combined bank and building society series historically dating back to January 2005 for consistency.
Notes: The methodology used to calculate these series has changed from January 2008 onwards. These changes have been applied to the combined bank and building society series historically dating back to January 2005 for consistency.
Notes: The methodology used to calculate these series has changed from January 2008 onwards. These changes have been applied to the combined bank and building society series historically dating back to January 2005 for consistency.
Notes: The national income distribution figures are used. This is this lowest income level of any type of adult (i.e., not income of a household).
Notes: The national income distribution figures are used. This is this lowest income level of any type of adult (i.e., not income of a household).
Notes: The national income distribution figures are used. This is this lowest income level of any type of adult (i.e., not income of a household).
Notes: The National Minimum Wage, which is not applied to Agriculatural Appentice. Up to 2009, for 22 y.o. or older. For 2010 and 2011, 21 y.o. or older. It is an hourly rate -- the conversion to a monthly rate based on 7.5 hours/day and 20 days/month.
Notes: The National Minimum Wage, which is not applied to Agriculatural Appentice. Up to 2009, for 22 y.o. or older. For 2010 and 2011, 21 y.o. or older. It is an hourly rate -- the conversion to a monthly rate based on 7.5 hours/day and 20 days/month.
Notes: The National Minimum Wage, which is not applied to Agriculatural Appentice. Up to 2009, for 22 y.o. or older. For 2010 and 2011, 21 y.o. or older. It is an hourly rate -- the conversion to a monthly rate based on 7.5 hours/day and 20 days/month.
Notes: The percentages provided are for England only. Data attained from English Housing Survey Reports
Notes: The percentages provided are for England only. Data attained from English Housing Survey Reports
Notes: The percentages provided are for England only. Data attained from English Housing Survey Reports
Notes: The percentages provided are for England only. Data attained from English Housing Survey Reports
Notes: The Scottish Government has launched a mortgage indemnity scheme to help more first-time buyers get on the property ladder since 29 June 2011.
Notes: The Scottish Government has launched a mortgage indemnity scheme to help more first-time buyers get on the property ladder since 29 June 2011.
Notes: There are public assistance to prevent repossession, which could appear obstacles from the lenders' viewpoint.
Notes: There are public assistance to prevent repossession, which could appear obstacles from the lenders' viewpoint.
Notes: There are public assistance to prevent repossession, which could appear obstacles from the lenders' viewpoint.
Notes: There are public assistance to prevent repossession, which could appear obstacles from the lenders' viewpoint.
Notes: There are public assistance to prevent repossession, which could appear obstacles from the lenders' viewpoint.
Notes: Tracker
Notes: Traditionally, UK mortgage lenders use Master Trust programmes to issue RMBS-- namely; Mounds -- HBOS (Bank of Scotland); Gracechurch – Barclays; Permanent – HBOS (Halifax); Arkle – Cheltenham & Gloucester; Holmes – Abbey; Lothian – Standard Life; Fosse – Alliance & Leicester
Notes: Traditionally, UK mortgage lenders use Master Trust programmes to issue RMBS-- namely; Mounds -- HBOS (Bank of Scotland); Gracechurch – Barclays; Permanent – HBOS (Halifax); Arkle – Cheltenham & Gloucester; Holmes – Abbey; Lothian – Standard Life; Fosse – Alliance & Leicester. Values are approximate.
Notes: Traditionally, UK mortgage lenders use Master Trust programmes to issue RMBS-- namely; Mounds -- HBOS (Bank of Scotland); Gracechurch – Barclays; Permanent – HBOS (Halifax); Arkle – Cheltenham & Gloucester; Holmes – Abbey; Lothian – Standard Life; Fosse – Alliance & Leicester. Values are approximate
Notes: Trivial. "Very few people know that it is possible to obtain a foreign currency mortgage for UK residential properties (http://www.internationalmortgagebrokers.co.uk/foreign-currency-mortgages/foreign-currency-mortgages.html)"
Notes: Value is normally less than
Notes: Value is normally less than
Notes: Value is normally less than
Notes: Value is normally less than
Notes: Value is normally less than
Notes: Value is normally less than. In terms of third party insurance but some lenders self insure. The UK government is setting up a mortgage guarantee scheme for 3 years funded to support up to £12billion of mortgage liabilities.
Notes: Values are typically <90%