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From recent press publications, the average mortgage in the UK is £130,000.
Keep in mind however that it's the average based on prices in the whole of UK and that includes both very cheap and very expensive areas. To give you an idea of just how massive the price gap is: average cost of 2 bedroom flats in central London is £638k while 2 bed flats in Liverpool can be purchased for (again, on average) £62k.
Than again it doesn't really answer your question since you've asked about how much is the mortgage.
Considering that the cost of property is really £130,000 along with interest rates at about 4,3% and the standard 15-20% initial payment you would pay 400£ / month for interest only mortgage and £550 / month for a repayment mortgage. This calculation assumes repayment spread over 30 years.
It's really hard to give an exact figure of the average mortgage repayments in UK because of how rapidly house prices and interest rates tend to change on the market. You can, however, expect to pay this much for your first property.
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∙ 12y ago
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The average United States home mortgage will depend on the location, age and size of the house. In February 2013, the average house in the United States cost $152,000. As for the actual mortgage rate, that will depend on the length and type of mortgage one gets. On average, a 30 year fixed rate would be about 4.2%.
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How much is the average mortgage in Seattle?
2400
How much does an average US home mortgage cost?
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UK mortgage question I just wondered if you could tell me what proportion of the UK population have an interest only mortgage because they cannot afford the monthly mortgage repayments associated with?
US Mortgage design
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The average mortgage rate is different for each state. Mortgage rates also vary based on the length of the mortgage and the person's credit score that is applying for the mortgage. To estimate the average mortgage rate for your state you could visit mortgagecalculator.org.
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Equity release in the UK includes either a lifetime mortgage or a reverse mortgage. Equity release in the US is available through a reverse mortgage.
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