We jointly publish the mortgage lending statistics every quarter. The outstanding value of all residential mortgages was £1.5 trillion at the end of 2020 Q1, 3.9% higher than a year earlier, The value of gross mortgage advances was £65.8 billion in Q1 2020, 3.8% higher than in Q1 2019, The value of mortgage advances (gross) in Q1 2020 was £65.7 billion, up 3.8% from Q1 in the previous year, Compared to last year, the value of new mortgage commitments was 6% higher in 2020, at £67.6 billion, The proportion of mortgages in arrears fell to its lowest amount since 2007, at 0.94% (Q3 2019), There are 10.94 million outstanding mortgages in the UK (May 2019), Based on this, the average mortgage debt amounts to, So far, in 2020, the average mortgage size for first-time buyers was £170,301, However, 2018 was the highest number of first-time buyer mortgages since 2006 (402,800), Over 60% of first-time buyers get mortgages with terms more than 25 years, There were 16,820 new remortgages with additional borrowing in December 2019, This is 5.9% more than in the same month in 2018, The average additional amount borrowed in November was £50,702, There were 16,490 new pound-for-pound remortgages (with no additional borrowing) in November 2019, 0.5% fewer than in December 2018, There are 72,380 homeowner mortgages in arrears of 2.5% or more of the outstanding balance (Q1 2020), Within this total, 22,050 homeowner mortgages were in significant arrears (representing 10% or more of the outstanding balance), 12 properties were repossessed every day in Q1 2020, This amounts to one property every two hours. Finder’s mortgage expert Matthew Boyle’s best advice. that aims to provide you with the tools you need to make better What are the average rent and mortgage costs in the UK? Document. We also publish a monthly debit card report providing comprehensive information on debit card usage in the UK and monthly card expenditure statistics; as well as a number of payments reports and payment statistics. See previous editions of the Statistics on Mortgage Lending published by the FSA. Lending 2. … There were 11,510 new first-time buyer mortgages completed in London in the third quarter of 2019, 1.3 per cent more than in the same quarter in 2018. The outstanding value of all residential mortgage loans was £1,527.3 billion at the end of 2020 Q3, 2.9% higher than a year earlier. Everyone else got a mortgage. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. ZA227007. We engage with policymakers across the UK and EU, to help shape regulation. Gross mortgage lending has doubled to £268 billion over the last decade, supported by rising sales Sector. Explore the graph below to see how the value of buy-to-let mortgages has trended over the last 12 months. We’ve done the calculations to help you decide which is the more worthwhile investment. Buy now pay later (BNPL) statistics | 2020, Mask usage in the UK and around the world, Historical price tracker: House prices, inflation and more. If you are We help our members to implement regulatory initiatives through a compliant and customer-focused approach, and by sharing best practice across the industry. Data is shown for first-time buyers and homeowners, house purchase and remortgaging, with affordability measures in the residential mortgage markets of London Many lenders cut the number of products they had on offer, particularly at higher LTVs, as they concentrated on their existing mortgage customers and dealing with mortgage holiday requests. The number of mortgage approvals for house purchases in the UK increased to 97.5 thousand in October 2020, the highest level since September 2007 and well above market expectations of 84.5 thousand. Since the beginning of 2007, around 340 regulated mortgage lenders and administrators have been required to submit a Mortgage Lending and Administration Return (MLAR) each quarter, providing data on their mortgage lending activities. Optional, only if you want us to follow up with you. Between March and April, they fell another 72%. The outstanding value of all residential mortgages loans was £1,509 billion at the end of 2020 Q1, 3.9% higher than a year earlier (Table A). And what can the UK mortgage sector learn from those at the cutting-edge, and what technologies could it realistically adopt over the next few years? £231,500 was the average price of a home bought in the UK by a first-time buyer in 2019. We found out how popular podcast listening is in the UK, how much is spent on advertising and what the most popular podcasts are. Despite a flat few years in the country’s house-selling sector, the size of the UK’s mortgage market has remained steady. In total there was over £36 billion worth of buy-to-let mortgage lending in the last 12 months, which consisted of £8.7 billion in house purchases and £27.3 billion in remortgages. Building society mortgage lending. The UK’s coronavirus lockdown saw the housing market – and the mortgage market – effectively paused during spring 2020. 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