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Robin Amlôt of Moneyextra.com said: For many, Novembers base rate rise has only just hit their mortgages and, now, they have the prospect of another guaranteed increase in their costs and talk of yet another base rate rise to come in the near future!
Under the circumstances its hardly surprising that the average value of both property and likely mortgage being searched against on Moneyextra.coms mortgage comparison tool eased down across all sectors (first time buyer, home mover, re-mortgagor) from December to January.
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Year on year, the mortgage market is still showing gains but the pace of increase continues to slow with the average mortgage amount1 being sought rising just 6.58 per cent to £135,791 compared with year ago levels. Average property prices rose by an annual 6.89 per cent in January to £220,836.
The average value of mortgages actually completed by AWD Moneyextra customers in January reached a new high of £155,185.78 and the most popular mortgage lender in January was Woolwich.
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