The average value of mortgages completed by AWD Moneyextra customers dropped by 6.68 per cent between June and July to £137,591.65. That’s also a fall of 5.76 per cent on the average agreed mortgage value in July 2005 of £145,944.69. The average value of loans completed during the first seven months (Jan-July 06) was £141,797.56.
The average mortgage comparison carried out in July on Moneyextra.com was £137,255.161, up just £1,594.24 or 1.18 per cent on June’s £135,660.92. However it was still up 9.34 per cent on year-ago levels and up 25.04 per cent on July 2004.
The average property value searched against on Moneyextra.com by those people looking to compare mortgages fell by £2719 from June to July but was still up 2.46 per cent over the last 12 months to £214,529 and up by 9.37 per cent since July 2004.
Nationwide Building Society continues to hold its position at the top of the table for most popular mortgage lender – a position it has held for the whole of 2005 and the current year so far.
Robin Amlôt, senior editor at Moneyextra, commented: “Whether Nationwide keeps this position will depend on how the market perceives its response to the August rise in base rates. Nationwide reacted to the Bank of England’s 0.25 per cent increase in base rate by raising its standard variable rate by 0.35 per cent with effect from 1 September.”
