The average maximum loan available to mortgage borrowers in November was £278,145, while the average minimum loan was just £133,166, according to the latest MBT Affordability Index.

This makes a difference of £144,979 between the average maximum loan and the average minimum loan available to customers, which is more than the average price of a property in the North East of England. Figures from the ONS how the average property price in the North East is £136,262.

The latest MBT Affordability Index shows a consistent trend in the large spread of average maximum and minimum loan sizes available from lenders.

According to the index, the most notable trend shows a sharp uplift in the average loan size requested by remortgage customers. This went up from £183,471 in October to £198,829 in November.

Meanwhile, the average loan size requested by home movers has fallen month-on-month from £248,950 to £238,000. The maximum average loan size available to home movers also fell from £318,571 in October to £307,440 in November.

The picture for first-time buyers has remained relatively consistent, although the minimum average loan size available to customers dropped to £130,333 in November from £140,828 in October.