This graph shows the changing landscape of the UK mortgage market

 
William Turvill
Follow William
Repossessions Continue To Increase Due To Economic Downturn
30 year-plus mortgages have become more and more common over the last 10 years (Source: Getty)

This graph depicts how dramatically the UK mortgage market has changed over the last decade.

The chart, created by Statista from ONS data, lays bare how the 25-year mortgage has declined in the last 10 years.

Read more: Housing market was buoyed by mortgage momentum on eve of EU referendum

In 2006, 25-year mortgages commanded a 42.2 per cent share of the entire UK market.

Last year, their share had declined to 21.5 per cent.

Over the same period, mortgages of 30 years or more have had their share of the market increase from 7.2 per cent to 19.1 per cent.

In other words: in 2006, the percentage point gap between 25 year mortgages' share of the market and 30 year-pluses' was 35. This has now shrunk to 2.4 percentage points.

Read more: As Brexit prompts mortgage rates to fall, should you get a fixed deal now?

Earlier this week, new statistics from the Council of Mortgage Lenders (CML) showed that mortgage lending rocketed to an eight-year high in June.

Homebuyers and re-mortgagers had £20.7bn dished out – up 16 per cent on May's level – with the market apparently showing few signs of pre-vote jitters.

Related articles