{"id":13456,"date":"2015-09-03T13:42:05","date_gmt":"2015-09-03T13:42:05","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=13456"},"modified":"2015-09-09T09:35:50","modified_gmt":"2015-09-09T09:35:50","slug":"mortgage-market-update-sept-2015","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=13456","title":{"rendered":"Mortgage Market Update &#8211; Sept 2015"},"content":{"rendered":"<p><strong>Mortgage Market Update<\/strong><\/p>\n<p><strong>New Mortgages granted \u00e2\u20ac\u201c July Estimates<\/strong><br \/>\nThe Council of Mortgage Lenders reported on 20<sup>th<\/sup> August that July\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a322 billion. This is 9% higher than June&#8217;s figure, and 14% higher than last July\u00e2\u20ac\u2122s figure \u00e2\u20ac\u201c the highest monthly total for 7 years.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>New Mortgages granted \u00e2\u20ac\u201c June Actual Figures<\/strong><br \/>\nThe Council of Mortgage Lenders reports (11<sup>th<\/sup> August) that gross mortgage lending for house purchase by home-owners in June totalled 61,000 loans, worth \u00c2\u00a310.6 billion. This is 21.8% higher than May&#8217;s in number and 24.7% higher in value. Compared to last June, it is down 1.0% in number but up 3.9% in value.<br \/>\nOf these, first-time buyer loans totalled 28,000, valued at \u00c2\u00a34.2 billion, which is up 22.0% in number and 23.5% in value on last month. This is 2.4% lower in number but unchanged in value, compared to last year.<br \/>\nHome movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a36.4 billion, and numbered 32,700. These figures are up 25.5% in terms of value, and up 21.1% in number on last month. The figures are up 6.7% in value and up 0.3% in number on last year.<br \/>\nThe number and value of remortgage loans also increased in the month \u00e2\u20ac\u201c 31,600 loans worth \u00c2\u00a35.4 billion were made in June. These figures are 30.0% higher than last month\u00e2\u20ac\u2122s in terms of volume and 30.8% higher in value. Over the year, these figures are up by 31.1% in number and up 34.2% in value.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>Mortgages &#8211; First-time buyers and home-movers \u00e2\u20ac\u201c June 2015.<\/strong><br \/>\nThe latest figures from CML (published 11th August 2015) show that first-time buyers&#8217; mortgages average 80.1% loan-to-value, and are 3.40 times income. The proportion of their income that buyers are paying on interest is 10.0%, but this rises to 18.2% when including capital repayments.<br \/>\nFor home-movers, the loan-to-value ratio is 73.2%, and is 3.12 times income. Income proportion spent on interest is 7.7%, which rises to 17.9% when including capital repayments.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>Buy-to-Let Mortgages \u00e2\u20ac\u201c June 2015<\/strong><br \/>\nThe Council of Mortgage Lenders reports that during June 2015, the total advanced on buy-to-let mortgages was \u00c2\u00a33.4 billion (22,100 loans). This is up 25.9% in value and up 22.8% in number than in May. Compared with last June, the number has risen by 38.1% and the value by 54.5%.<br \/>\n11,500 loans worth \u00c2\u00a31.8 billion were for remortgage \u00e2\u20ac\u201c an increase of 29.2% in number and of 28.6% in value on the previous month. Compared to last June, the figures are up 53.3% in number and up 63.6% in value.<br \/>\nBuy-to-Let loans for house purchase totalled 10,400 worth \u00c2\u00a31.4 billion, a rise of 16.9% in number and of 16.7% in value on last month, and a rise of 23.8% in number and of 40.0% in value on June 2014.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>New Mortgages granted \u00e2\u20ac\u201c Second Quarter Actual Figures<\/strong><br \/>\nThe Council of Mortgage Lenders reports that gross mortgage lending for house purchase by home-owners in Q2 2015 totalled 160,100 loans, worth \u00c2\u00a327.5 billion. This is 21.6% higher than Q1 2015 in number and 22.8% higher in value. Compared to Q2 2014, it is down 7.7 in number and 4.2% in value.<br \/>\nIn Q2, first-time buyer loans totalled 74,700, valued at \u00c2\u00a311.0 billion, which is up 21.7% in number and 22.2% in value on last quarter. This is 7.7% lower in number and 6.0% lower in value, compared to Q2 last year.<br \/>\nHome movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a316.4 billion, and numbered 85.500. These figures are up 21.4% in terms of number, and up 22.0% in value on last quarter. However, the figures are down 7.7% in number and 3.5% in value on the second quarter last year.<br \/>\nThe number and value of remortgage loans also increased in the quarter \u00e2\u20ac\u201c 82,200 loans worth \u00c2\u00a313.2 billion were made in Q2. These figures are 8.6% higher than last quarter\u00e2\u20ac\u2122s in terms of volume and 10.9% higher in value. Compared to Q2 last year, these figures are up by 8.6% in number and up 14.8% in value.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>Outstanding Mortgages \u00e2\u20ac\u201c June 2015<\/strong><br \/>\nBy the end of June, total outstanding mortgage lending in the UK amounted to \u00c2\u00a31.269 trillion. Last June it was \u00c2\u00a31,248 trillion. This averages to \u00c2\u00a3114,535 for each of the 11.1 million households with mortgage debt.<br \/>\n<em>Source: The Money Charity<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mortgage Market Update New Mortgages granted \u00e2\u20ac\u201c July Estimates The Council of Mortgage Lenders reported on 20th August that July\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a322 billion. This is 9% higher than June&#8217;s figure, and 14% higher than last July\u00e2\u20ac\u2122s figure \u00e2\u20ac\u201c the highest monthly total for 7 years. &hellip; <a href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=13456\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Mortgage Market Update &#8211; Sept 2015&#8221;<\/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-13456","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mortgage Market Update - Sept 2015 - Property Surveying NEWSLETTER<\/title>\n<meta name=\"description\" content=\"Monthly Mortgage Market update for September 2015, provided by Property Surveying. 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