Woolwich mortgages 'lauded'

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Woolwich mortgages 'lauded'

Woolwich mortgages have proved to be the most popular package among consumers in the first month of the new year, according to new research carried out by price comparison site Moneyextra.

This means that Nationwide packages have been knocked off the top spot by Woolwich mortgages, having been most popular between January and December 2006.

According to Robin Amlot of Moneyextra, November's interest rate rise is just starting to filter through to homebuyers.

With interest rates mooted to rise in the near future, Mr Amlot said it was "hardly surprising" that the average value of property "eased down" across all sectors between December 2006 and January 2007.

According to the group, the pace of growth in the mortgage market is experiencing a downturn, with the average mortgage amount rising to £135,791 during the month.

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