{"id":14213,"date":"2015-10-09T12:19:46","date_gmt":"2015-10-09T12:19:46","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14213"},"modified":"2015-10-09T12:20:53","modified_gmt":"2015-10-09T12:20:53","slug":"mortgage-market-update-october-2015","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14213","title":{"rendered":"Mortgage Market Update \u00e2\u20ac\u201c Oct 2015"},"content":{"rendered":"<p><strong>New Mortgages granted \u00e2\u20ac\u201c August Estimates<\/strong><br \/>\nThe Council of Mortgage Lenders reported on 17<sup>th<\/sup> September that August\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a320 billion. This is 8% lower than July&#8217;s figure, but 12% higher than last August\u00e2\u20ac\u2122s figure. This is \u00e2\u20ac\u0153the highest August figure since 2007\u00e2\u20ac\u009d they stated.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>New Mortgages granted \u00e2\u20ac\u201c July Actual Figures<\/strong><br \/>\nThe Council of Mortgage Lenders reports (15<sup>th<\/sup> September) that gross mortgage lending for house purchase by home-owners in July totalled 67,800 loans, worth \u00c2\u00a312.2 billion. This is 7.4% higher than June&#8217;s in number and 10.9% higher in value. Compared to last July, it is up 4.8% in number and up 8.9% in value.<br \/>\nOf these, first-time buyer loans totalled 30,200, valued at \u00c2\u00a34.6 billion, which is up 2.7% in number and 4.5% in value on last month. This is 4.5% higher in number and 7.0% higher in value, compared to last year.<br \/>\nHome movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a37.6 billion, and numbered 37,700. These figures are up 15.2% in terms of value, and up 11.9% in number on last month.\u00c2\u00a0 The figures are up 10.1% in value and up 5.3% in number on last year.<br \/>\nThe number and value of remortgage loans decreased in the month \u00e2\u20ac\u201c 31,000 loans worth \u00c2\u00a35.1 billion were made in July. These figures are 5.5% lower than last month\u00e2\u20ac\u2122s in terms of volume and 3.8% lower in value. However, over the year, these figures are up by 26.0% 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 July 2015.<\/strong><br \/>\nThe latest figures from CML (published 15th September 2015) show that first-time buyers&#8217; mortgages average \u00c2\u00a3128,000, which is 84.3% loan-to-value, and 3.41 times income. The proportion of their income that buyers are paying on interest is 10.1%, but this rises to 18.5% when including capital repayments.<br \/>\nFor home-movers, the average loan is \u00c2\u00a3166,280, with a loan-to-value ratio of 72.1%, and 3.12 times income. Income proportion spent on interest is 7.6%, which rises to 18.1% when including capital repayments.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>Buy-to-Let Mortgages \u00e2\u20ac\u201c July 2015<\/strong><br \/>\nThe Council of Mortgage Lenders reports that during July 2015, the total advanced on buy-to-let mortgages was \u00c2\u00a33.8 billion (25,200 loans). This is up 11.8% in value and up 14.0% in number than in June. Compared with last July, the number has risen by 39.2% and the value by 52.0%.<br \/>\n13,200 loans worth \u00c2\u00a32.2 billion were for remortgage \u00e2\u20ac\u201c an increase of 14.8% in number and of 22.2% in value on the previous month. Compared to last July, the figures are up 53.5% in number and up 69.2% in value.<br \/>\nBuy-to-Let loans for house purchase totalled 11,800 worth \u00c2\u00a31.6 billion, a rise of 13.5% in number and of 14.3% in value on last month, and a rise of 26.9% in number and of 33.3% in value on July 2014.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>Outstanding Mortgages \u00e2\u20ac\u201c July 2015<\/strong><br \/>\nBy the end of July, total outstanding mortgage lending in the UK amounted to \u00c2\u00a31.269 trillion. Last July it was \u00c2\u00a31,250 trillion. This averages to \u00c2\u00a3114,593 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>New Mortgages granted \u00e2\u20ac\u201c August Estimates The Council of Mortgage Lenders reported on 17th September that August\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a320 billion. This is 8% lower than July&#8217;s figure, but 12% higher than last August\u00e2\u20ac\u2122s figure. This is \u00e2\u20ac\u0153the highest August figure since 2007\u00e2\u20ac\u009d they stated. Source: &hellip; <a href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14213\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Mortgage Market Update \u00e2\u20ac\u201c Oct 2015&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"folder":[],"class_list":["post-14213","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mortgage Market Update \u00e2\u20ac\u201c Oct 2015 - 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=14213\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage Market Update \u00e2\u20ac\u201c Oct 2015 - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"New Mortgages granted \u00e2\u20ac\u201c August Estimates The Council of Mortgage Lenders reported on 17th September that August\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a320 billion. This is 8% lower than July&#8217;s figure, but 12% higher than last August\u00e2\u20ac\u2122s figure. This is \u00e2\u20ac\u0153the highest August figure since 2007\u00e2\u20ac\u009d they stated. 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This is 8% lower than July&#8217;s figure, but 12% higher than last August\u00e2\u20ac\u2122s figure. This is \u00e2\u20ac\u0153the highest August figure since 2007\u00e2\u20ac\u009d they stated. 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