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 Mortgage equity withdrawal falls
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Thursday, March 31, 2005 |
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The Bank of England says mortgage equity withdrawal (MEW) has fallen to just under £7 billion compared to over £11 billion in the previous quarter.
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£mn (SA) |
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2003 Q4 |
2004 Q1 |
2004 Q2 |
2004 Q3 |
2004 Q4 |
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16,817 |
15,525 |
13,724 |
11,297 |
6,933 |
The Bank’s estimate of mortgage equity withdrawal is intended to measure that part of secured borrowing that is not invested in the housing market. It takes the increase in housing finance (net mortgage lending and capital grants) and subtracts households’ investment in housing (purchases of new houses and houses from other sectors, improvements to property, and the transactions costs of moving house).
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