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Recent figures show that the average size of mortgage that people
are taking out has fallen over recent months, indicating that people
are more reluctant to take on large mortgages and commit to long
repayment terms.
These drops in mortgage amounts are not specific to any market,
and has been seen across first-time-buyers, home movers and even
those re-mortgaging. This trend has been continuing over a four-month
period, with the average mortgage now standing at £122,657
according to the figures.
A fall in the value of mortgages like this was not totally unexpected,
following the sharp and sustained rise in house prices in recent
times was always going to be followed by a slight cooling of the
house market, and these figures reflect that.
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