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UK mortgage searches ease

Date: Tue, 29 Nov 2005

The level of UK mortgage searches has eased during October compared to the number conducted in September.

The news that interest rates are unlikely to fall before the end of the year has meant that many potential buyers are delaying their search for the ideal home and UK mortgage.

According to Moneyextra's mortgage comparison tool, the average property value searched dropped to £208,741 – a fall of £2,192 on September's levels.

Meanwhile, the average mortgage being searched for during October was £126,423 – 1.08 per cent less than in September.

The largest fall was amongst those homeowners looking to move from an existing property - the value of the UK mortgage being sought fell by 1.63 per cent to just £155,385.

However, the average value of mortgages completed during last month was £134,909.65, just 0.26 per cent less than in September – a sign that the housing market is remaining fairly stable despite an apparent fall in buyer interest.


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