{"id":12677,"date":"2015-04-14T15:33:17","date_gmt":"2015-04-14T15:33:17","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=12677"},"modified":"2015-04-14T15:33:17","modified_gmt":"2015-04-14T15:33:17","slug":"mortgage-market-update-3","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=12677","title":{"rendered":"Mortgage Market Update"},"content":{"rendered":"

New Mortgages granted \u00e2\u20ac\u201c February Estimates<\/strong><\/p>\n

The Council of Mortgage Lenders reported on 19th<\/sup> March that February\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a313.4 billion. This is 9% lower than January’s figure, and 9% down on last February\u00e2\u20ac\u2122s figure.<\/p>\n

Source: Council of Mortgage Lenders<\/em><\/p>\n

New Mortgages granted \u00e2\u20ac\u201c January Actual Figures<\/strong><\/p>\n

The Council of Mortgage Lenders reports that gross mortgage lending for house purchase by home-owners in January totalled 41,400 loans, worth \u00c2\u00a37.0 billion. This is 25.5% lower than December’s in number and 24.7% lower in value. Compared to last January, it is down 15.5% in number and 12.5% in value.<\/p>\n

Of these, first-time buyer loans totalled 19,000, valued at \u00c2\u00a32.8 billion, which is down 26.9% in number and 26.3% in value on last month. This is 14.0% lower in number and 9.7% lower in value, compared to last year.<\/p>\n

Home movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a34.2 billion, and numbered 22,400. These figures are down 24.1% in terms of number, and down 23.6% in value on last month.\u00c2\u00a0 The figures are down 17.0% in number and 14.3% in value on last year.<\/p>\n

The number and value of remortgage loans rose in the month \u00e2\u20ac\u201c 25,600 loans worth \u00c2\u00a34.1 billion were made in January. These figures are 15.3% higher than last month\u00e2\u20ac\u2122s in terms of volume and 20.6% higher in value. Over the year, these figures are down by 11.7% in number and down 4.7% in value.<\/p>\n

Source: Council of Mortgage Lenders<\/em><\/p>\n

Mortgages – First-time buyers and home-movers \u00e2\u20ac\u201c January 2015.<\/strong><\/p>\n

The latest figures from CML (published 14th March 2015) show that first-time buyers’ mortgages average 83% loan-to-value, and are 3.38 times income. The proportion of their income that buyers are paying on interest is 10.7%, but this rises to 19.0% when including capital repayments.<\/p>\n

For home-movers, the loan-to-value ratio is 72%, at 3.05 times income. Income proportion spent on interest is 8.2%, which rises to 18.3% when including capital repayments.<\/p>\n

Source: Council of Mortgage Lenders<\/em><\/p>\n

Buy-to-Let Mortgages \u00e2\u20ac\u201c January 2015<\/strong><\/p>\n

The Council of Mortgage Lenders reports that during January 2015, the total advanced on buy-to-let mortgages was \u00c2\u00a32.5 billion (18,200 loans). This is the same as December’s in value but higher in number by 5.2%. Compared with last January, the number rose by 11.7% and the value by 13.6%.<\/p>\n

10,400 loans worth \u00c2\u00a31.5 billion were for remortgage \u00e2\u20ac\u201c an increase of 20.8% in number and an increase of 11.1% in value on the previous month. Compared to last January, the figures are up 27.9% in number and up 29.3% in value.<\/p>\n

Buy-to-Let loans for house purchase totalled 7,600 worth \u00c2\u00a31.0 billion, a fall of 11.1% in number and 7.4% in value on last month, a fall of 5.6% in number but a rise of 5.3% in value on January 2014.<\/p>\n

Source: Council of Mortgage Lenders<\/em><\/p>\n

SRJ\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 \u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0www.propertysurveying.co.uk\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 13.04.15<\/p>\n","protected":false},"excerpt":{"rendered":"

New Mortgages granted \u00e2\u20ac\u201c February Estimates The Council of Mortgage Lenders reported on 19th March that February\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a313.4 billion. This is 9% lower than January’s figure, and 9% down on last February\u00e2\u20ac\u2122s figure. Source: Council of Mortgage Lenders New Mortgages granted \u00e2\u20ac\u201c January Actual … Continue reading “Mortgage Market Update”<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"folder":[],"class_list":["post-12677","page","type-page","status-publish","hentry"],"yoast_head":"\nMortgage Market Update - Property Surveying NEWSLETTER<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=12677\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage Market Update - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"New Mortgages granted \u00e2\u20ac\u201c February Estimates The Council of Mortgage Lenders reported on 19th March that February\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a313.4 billion. This is 9% lower than January’s figure, and 9% down on last February\u00e2\u20ac\u2122s figure. 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