{"id":13200,"date":"2015-06-18T10:53:53","date_gmt":"2015-06-18T10:53:53","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=13200"},"modified":"2015-06-18T10:53:53","modified_gmt":"2015-06-18T10:53:53","slug":"mortgage-market-update-4","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=13200","title":{"rendered":"Mortgage Market Update"},"content":{"rendered":"

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

The Council of Mortgage Lenders reported on 21st<\/sup> May that April\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a316 billion. This is 4% lower than March’s figure, but 1% up on last April\u00e2\u20ac\u2122s figure.<\/p>\n

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

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

The Council of Mortgage Lenders reports that gross mortgage lending for house purchase by home-owners in March totalled 48,200 loans, worth \u00c2\u00a38.2 billion. This is 16.4% higher than February’s in number and 17.1% higher in value. Compared to last March, it is down 3.8% in number but up 3.8% in value.<\/p>\n

Of these, first-time buyer loans totalled 23,000, valued at \u00c2\u00a33.4 billion, which is up 20.4% in number and 21.4% in value on last month. This is 5.0% lower in number but 3.0% higher in value, compared to last year.<\/p>\n

Home movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a34.9 billion, and numbered 25,200. These figures are up 13.5% in terms of number, and up 16.7% in value on last month.\u00c2\u00a0 The figures are down 2.7% in number but up 6.5% in value on last year.<\/p>\n

The number and value of remortgage loans also increased in the month \u00e2\u20ac\u201c 26,600 loans worth \u00c2\u00a34.2 billion were made in March. These figures are 19.3% higher than last month\u00e2\u20ac\u2122s in terms of volume and 23.5% higher in value. Over the year, these figures are up by 5.6% in number and up 13.5% in value.<\/p>\n

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

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

The latest figures from CML (published 19th May 2015) show that first-time buyers’ mortgages average 80.7% loan-to-value, and are 3.36 times income. The proportion of their income that buyers are paying on interest is 10.6%, but this rises to 18.8% when including capital repayments.<\/p>\n

For home-movers, the loan-to-value ratio remains steady at 72.9%, and is 3.07 times income. Income proportion spent on interest is 8.1%, which rises to 18.5% when including capital repayments.<\/p>\n

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

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

The Council of Mortgage Lenders reports that during March 2015, the total advanced on buy-to-let mortgages was \u00c2\u00a32.7 billion (18,200 loans). This is up 11.7% in value and up 12.5% in number than in February. Compared with last March, the number has risen by 21.3% and the value rose by 35.0%.<\/p>\n

9,400 loans worth \u00c2\u00a31.4 billion were for remortgage \u00e2\u20ac\u201c an increase of 14.6% in number and of 7.7% in value on the previous month. Compared to last March, the figures are up 28.8% in number and up 27.3% in value.<\/p>\n

Buy-to-Let loans for house purchase totalled 8,600 worth \u00c2\u00a31.2 billion, a rise of 7.5% in number and of 20.0% in value on last month, and a rise of 13.2% in number and of 33.3% in value on March 2014.<\/p>\n

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

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

The Council of Mortgage Lenders reports that gross mortgage lending for house purchase by home-owners in Q1 2015 totalled 131,800 loans, worth \u00c2\u00a322.4 billion. This is 24% lower than Q4 2014 in number and 23% lower in value. Compared to Q1 2014, it is down 11% in number and 5% in value.<\/p>\n

In Q1, first-time buyer loans totalled 61,300, valued at \u00c2\u00a39 billion, which is down 24% in number and 23% in value on last quarter. This is 11% lower in number and \u00c2\u00a05% lower in value, compared to Q1 last year.<\/p>\n

Home movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a313.5 billion, and numbered 70.400. These figures are down 55% in terms of number, and down 22% in value on last quarter.\u00c2\u00a0 The figures are down 11% in number and 5% in value on the first quarter last year.<\/p>\n

The number and value of remortgage loans increased in the quarter \u00e2\u20ac\u201c 75,400 loans worth \u00c2\u00a311.8 billion were made in Q1. These figures are 3% higher than last quarter\u00e2\u20ac\u2122s in terms of volume and 6% higher in value. Compared to Q1 last year, these figures are down by 5% in number but up 2% in value.<\/p>\n

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

Outstanding Mortgages \u00e2\u20ac\u201c March 2015<\/strong><\/p>\n

By the end of March, total outstanding mortgage lending in the UK amounted to \u00c2\u00a31.304 trillion. Last March it was \u00c2\u00a31,284 trillion. This averages to \u00c2\u00a3117,704 for each of the 11.1 million households with mortgage debt.<\/p>\n

Source: The Money Charity<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

New Mortgages granted \u00e2\u20ac\u201c April Estimates The Council of Mortgage Lenders reported on 21st May that April\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a316 billion. This is 4% lower than March’s figure, but 1% up on last April\u00e2\u20ac\u2122s figure. Source: Council of Mortgage Lenders New Mortgages granted \u00e2\u20ac\u201c March Actual … Continue reading “Mortgage Market Update”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"folder":[],"class_list":["post-13200","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=13200\" \/>\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 April Estimates The Council of Mortgage Lenders reported on 21st May that April\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a316 billion. 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