mardi 17 mars 2015

Subdued pace of UK house purchase lending continues

The Council of Mortgage Lenders today released new data on the characteristics of UK mortgage lending in January 2015, broken down to show first-time buyer, home mover, remortgage and buy-to-let lending. The survey on which the results are based mirrors the FCA's statutory reporting, which is currently in a transition phase following the implementation of the Mortgage Market Review. This month's data (marked in red) may be subject to greater revisions than usual reflecting the transition arrangements. For more information on the new data requirements by the FCA, please refer to the annex of this document.





Lending in January:

##First-time buyers saw a drop in lending compared to December and the same month in 2014. There were 19,000 loans advanced to first-time buyers January - down 27% on December and 14% compared to January 2014. These loans by value were £2.8 billion, which was down 26% on December and 10% down on January last year.

##Home movers were advanced 22,400 loans, a decline of 24% compared to December and 17% down year-on-year. These loans totalled in value £4.2bn - 24% down on December and 14% down compared to January 2014.

##Remortgage lending increased month-on-month with 25,600 loans advanced - up 15% on December but 12% down on January 2014. The value of these loans (£4.1 billion) also increased month-on-month by 21% but was down 5% year




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Subdued pace of UK house purchase lending continues

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