New Mortgages granted – January Estimates
The Council of Mortgage Lenders reported on 18th February that January’s estimated figure for gross mortgage lending in the UK would be £17.9 billion. This is 9% lower than last month’s figure, but 21% higher than last January’s figure. “This is the highest lending total for a January since 2008†the report said.
Source: Council of Mortgage Lenders
New Mortgages granted – December Actual Figures
The Council of Mortgage Lenders reports (16th February) that gross mortgage lending for house purchase by home-owners in December totalled 62,700 loans, worth £11.1 billion. This is up 4.2% from November’s in number and 3.7% higher in value. Compared to last December, it is up 11.8% in number and up 18.1% in value.
Of these, first-time buyer loans totalled 29,300, valued at £4.5 billion, which is up 5.8% in number and 7.1% in value on last month. This is 11.4% higher in number and 18.4% higher in value, compared to last year.
Home movers’ loans totalled £6.6 billion, and numbered 33,400. These figures are up 1.5% in terms of value, and up 1.5% in number on last month. The figures are up 20.0% in value and up 12.1% in number on last year.
The number and value of remortgage loans decreased in the month – 25,500 loans worth £4.2 billion were made in December. These figures are 15.8% lower than last month’s in terms of volume and 16.0% lower in value. Over the year, however, the figures are up by 13.8% in number and up 23.5% in value.
Source: Council of Mortgage Lenders
Mortgages – First-time buyers and home-movers – December 2015.
The latest figures from CML (published 16th February 2015) show that first-time buyers’ mortgages average £130,999, which is 80.4% loan-to-value, and 3.50 times income. The proportion of their income that buyers are paying on interest is 9.6%, but this rises to 18.2% when including capital repayments.
For home-movers, the average loan is £166,500, with a loan-to-value ratio of 73.2%, and 3.21 times income. Income proportion spent on interest is 7.7%, which rises to 18.1% when including capital repayments.
Source: Council of Mortgage Lenders
Buy-to-Let Mortgages – December 2015
The Council of Mortgage Lenders reports that during December 2015, the total advanced on buy-to-let mortgages was £3.4 billion (22,500 loans). This is down 2.9% in value and down 3.4% in number than in November. Compared with last December, the number has risen by 30.1% and the value by 36.0%.
11,900 loans worth £1.9 billion were for remortgage – a decrease of 9.2% in number and of 9.5% in value on the previous month. Compared to last December, the figures are up 38.4% in number and up 35.7% in value.
Buy-to-Let loans for house purchase totalled 10,300 worth £1.4 billion, a rise of 3.0% in number and of 7.7% in value on last month, and a rise of 19.8% in number and of 27.3% in value on December 2014.
Source: Council of Mortgage Lenders
Outstanding Mortgages – January 2016
By the end of January, the total outstanding mortgage lending in the UK amounted to £1.299 trillion. Last January it was £1,255 trillion. This averages to £117,305 for each of the 11.1 million households with mortgage debt.
Source: The Money Charity
New Mortgages granted – 4th Quarter 2015
The Council of Mortgage Lenders reports (16th February) that gross mortgage lending for house purchase by home-owners in Q4 2015 totalled 189,100 loans, worth £33.7 billion. This is up 0.9% from Q3’s in number but 0.3% lower in value. Compared to Q4 last year, it is up 8.5% in number and up 16.2% in value.
Of these, first-time buyer loans totalled 87.100, valued at £13.3 billion, which is up 3.4% in number and 3.1% in value on last quarter. This is 8.2% higher in number and 13.7% higher in value, compared to Q4 last year.
Home movers’ loans totalled £20.3 billion, and numbered 101,900. These figures are down 2.9% in terms of value, and down 1.5% in number on the third quarter. The figures are up 18.0% in value and up 8.6% in number on Q4 last year.
The number and value of remortgage loans increased in the quarter – 89,000 loans worth £15.0 billion were made in Q4. These figures are 21.4% higher than Q3’s in terms of volume and 35.1% higher in value. Compared with Q4 2014, however, the figures are up by 21.4% in number and up 35.1% in value.
Source: Council of Mortgage Lenders
Mortgages – First-time buyers and home-movers – Q4 2015.
The latest figures from CML (published 16th February 2015) show that first-time buyers’ mortgages averaged £129,495 in the quarter, which is 82.9% loan-to-value, and 3.48 times income. The proportion of their income that buyers are paying on interest is 9.7%, but this rises to 18.3% when including capital repayments.
For home-movers, the average loan was £165,999 in Q4, with a loan-to-value ratio of 72.9%, and 3.19 times income. Income proportion spent on interest is 7.6%, which rises to 18.1% when including capital repayments.
Source: Council of Mortgage Lenders
Buy-to-Let Mortgages – Quarter 4, 2015
The Council of Mortgage Lenders reports that during Q4 2015, the total advanced on buy-to-let mortgages was £10.7 billion (70,500 loans). This is down 0.9% in value and down 1.3% in number than in Q3. Compared with Q4 last year, the number has risen by 30.6% and the value by 40.8%.
38,200 loans worth £6.2 billion were for remortgage – an increase of 2.7% in number and unchanged in value on the previous quarter. Compared to Q4 last year, the figures are up 42.0% in number and up 44.2% in value.
Buy-to-Let loans for house purchase totalled 31,600 worth £4.3 billion, a fall of 5.7% in number and of 4.4% in value on last quarter, but a rise of 17.9% in number and of 30.3% in value on Q4 2014.
Source: Council of Mortgage Lenders
*Back to March 2016 Newsletter*
©  www.propertysurveying.co.uk   PP