The average mortgage being sought in May on Moneyextra was £122,6571, the lowest level since January’s £122, 615.
In fact, across all three sectors, first time buyers, movers and remortgagers, the size of mortgage advance being sought on Moneyextra was down; by 0.23 per cent for first time buyers, 0.98 per cent for movers and by 2.88 per cent for those remortgaging.
At 48.15 per cent, the loan-to-value level being considered by those looking to remortgage was at its lowest level for eight months.
The value of the average house purchase being considered by movers in May was up just 0.78 per cent on year ago levels at £248,609 and was actually down 1.79 per cent on the £253,140 average seen in April.
The average value of loans actually completed via Moneyextra Mortgages in May was £132,458.06, up from April’s £122,619.56, but still down more than 5 per cent from £139,632.53 in March.
The most popular mortgage lender in the month of May, for the second month in a row was First Active. For the fourth month in a row mutual lenders are in a minority in the top ten for the month and there are also only three mutuals in the top ten for the first five months of 2005.
