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Regional Differences in Mortgage Demand and Mortgage Instrument Choice in the UK


  • Alla Koblyakova
  • Norman Hutchison
  • Piyush Tiwari


Koblyakova A., Hutchison N. and Tiwari P. Regional differences in mortgage demand and mortgage instrument choice in the UK, Regional Studies . This paper presents empirical evidence of regional variations in mortgage choice decisions within the UK's mortgage sector. Utilizing British Household Panel Survey (BHPS) data for the years 2001, 2007 and 2008, the paper suggests that a household's decision to choose a variable rate mortgage is more likely to occur in areas with lower incomes and affordability rates, such as Northern England, Scotland and Wales. Since variable rate mortgages are more sensitive to income and monetary policy shocks, the disproportional distribution of variable contracts within the mortgage sector may have a differential impact on the regions.

Suggested Citation

  • Alla Koblyakova & Norman Hutchison & Piyush Tiwari, 2014. "Regional Differences in Mortgage Demand and Mortgage Instrument Choice in the UK," Regional Studies, Taylor & Francis Journals, vol. 48(9), pages 1499-1513, September.
  • Handle: RePEc:taf:regstd:v:48:y:2014:i:9:p:1499-1513
    DOI: 10.1080/00343404.2012.750426

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    References listed on IDEAS

    1. Janine Aron & John Muellbauer, 2010. "Modelling and Forecasting UK Mortgage Arrears and Possessions," Economics Series Working Papers 499, University of Oxford, Department of Economics.
    2. Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119.
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