{"id":14305,"date":"2015-11-05T12:28:49","date_gmt":"2015-11-05T12:28:49","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14305"},"modified":"2015-11-05T12:28:49","modified_gmt":"2015-11-05T12:28:49","slug":"mortgage-market-update-nov-2015","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14305","title":{"rendered":"Mortgage Market Update &#8211; Nov 2015"},"content":{"rendered":"<p style=\"text-align: left;\"><strong>New Mortgages granted \u00e2\u20ac\u201c September Estimates<\/strong><br \/>\nThe Council of Mortgage Lenders reported on 22nd October that September\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a320 billion. This is 2% higher than August&#8217;s figure, and 12% higher than last September\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153Mortgage lending is currently enjoying its best spell since 2008\u00e2\u20ac\u009d the report said.<\/p>\n<p style=\"text-align: right;\"><em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p style=\"text-align: left;\"><strong>New Mortgages granted \u00e2\u20ac\u201c August Actual Figures<\/strong><br \/>\nThe Council of Mortgage Lenders reports (13th October) that gross mortgage lending for house purchase by home-owners in August totalled 62,300 loans, worth \u00c2\u00a311.3 billion. This is 9.3% lower than July&#8217;s in number and 8.1% lower in value. Compared to last August, it is up 1.5% in number and up 6.6% in value.<\/p>\n<p>Of these, first-time buyer loans totalled 27,500, valued at \u00c2\u00a34.2 billion, which is down 10.4% in number and 10.6% in value on last month. This is 1.9% higher in number and 5.0% higher in value, compared to last year.<br \/>\nHome movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a37.1 billion, and numbered 34,800. These figures are down 6.6% in terms of value, and down 8.4% in number on last month. The figures are up 7.6% in value and up 1.2% in number on last year.<br \/>\nThe number and value of remortgage loans decreased in the month \u00e2\u20ac\u201c 25,600 loans worth \u00c2\u00a34.2 billion were made in August. These figures are 17.2% lower than last month\u00e2\u20ac\u2122s in terms of volume and 17.6% lower in value. However, over the year, these figures are up by 11.3% in number and up 20.0% in value.<\/p>\n<p style=\"text-align: right;\"><em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p style=\"text-align: left;\"><strong>Mortgages &#8211; First-time buyers and home-movers \u00e2\u20ac\u201c August 2015.<\/strong><br \/>\nThe latest figures from CML (published 13th October 2015) show that first-time buyers&#8217; mortgages average \u00c2\u00a3128,999, which is 84.2% loan-to-value, and 3.45 times income. The proportion of their income that buyers are paying on interest is 10.0%, but this rises to 18.5% when including capital repayments.<\/p>\n<p>For home-movers, the average loan is \u00c2\u00a3168,750, with a loan-to-value ratio of 71.9%, and 3.14 times income. Income proportion spent on interest is 7.5%, which rises to 18.1% when including capital repayments.<\/p>\n<p style=\"text-align: right;\"><em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p style=\"text-align: left;\"><strong>Buy-to-Let Mortgages \u00e2\u20ac\u201c August 2015<\/strong><br \/>\nThe Council of Mortgage Lenders reports that during August 2015, the total advanced on buy-to-let mortgages was \u00c2\u00a33.4 billion (22,200 loans). This is down 10.5% in value and down 11.9% in number than in July. Compared with last August, the number has risen by 37.9% and the value by 47.8%.<\/p>\n<p>11,500 loans worth \u00c2\u00a31.9 billion were for remortgage \u00e2\u20ac\u201c a decrease of 12.9% in number and of 13.6% in value on the previous month. Compared to last August, the figures are up 51.3% in number and up 72.7% in value.<br \/>\nBuy-to-Let loans for house purchase totalled 10,500 worth \u00c2\u00a31.4 billion, a fall of 11.0% in number and of 12.5% in value on last month, but a rise of 26.5% in number and of 40.0% in value on August 2014.<\/p>\n<p style=\"text-align: right;\"><em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p style=\"text-align: left;\"><strong>Outstanding Mortgages \u00e2\u20ac\u201c September 2015<\/strong><br \/>\nBy the end of September, the total outstanding mortgage lending in the UK amounted to \u00c2\u00a31.275 trillion. Last September it was \u00c2\u00a31,253 trillion. This averages to \u00c2\u00a3115,137 for each of the 11.1 million households with mortgage debt.<\/p>\n<p style=\"text-align: right;\"><em>Source: The Money Charity<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Mortgages granted \u00e2\u20ac\u201c September Estimates The Council of Mortgage Lenders reported on 22nd October that September\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a320 billion. This is 2% higher than August&#8217;s figure, and 12% higher than last September\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153Mortgage lending is currently enjoying its best spell since 2008\u00e2\u20ac\u009d the &hellip; <a href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14305\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Mortgage Market Update &#8211; Nov 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-14305","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mortgage Market Update - Nov 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=14305\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage Market Update - Nov 2015 - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"New Mortgages granted \u00e2\u20ac\u201c September Estimates The Council of Mortgage Lenders reported on 22nd October that September\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a320 billion. This is 2% higher than August&#8217;s figure, and 12% higher than last September\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153Mortgage lending is currently enjoying its best spell since 2008\u00e2\u20ac\u009d the &hellip; Continue reading &quot;Mortgage Market Update &#8211; Nov 2015&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14305\" \/>\n<meta property=\"og:site_name\" content=\"Property Surveying NEWSLETTER\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/PropertySurveying\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14305\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14305\",\"name\":\"Mortgage Market Update - Nov 2015 - Property Surveying NEWSLETTER\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#website\"},\"datePublished\":\"2015-11-05T12:28:49+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14305#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14305\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14305#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mortgage Market Update &#8211; Nov 2015\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#website\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/\",\"name\":\"Property Surveying NEWSLETTER\",\"description\":\"The NEWSLETTER\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#organization\",\"name\":\"Property Surveying NEWSLETTER\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/wp-content\\\/uploads\\\/cropped-property-surveying-logo-for-newsletter-body-1.png\",\"contentUrl\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/wp-content\\\/uploads\\\/cropped-property-surveying-logo-for-newsletter-body-1.png\",\"width\":240,\"height\":50,\"caption\":\"Property Surveying NEWSLETTER\"},\"image\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/PropertySurveying\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Mortgage Market Update - Nov 2015 - Property Surveying NEWSLETTER","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14305","og_locale":"en_GB","og_type":"article","og_title":"Mortgage Market Update - Nov 2015 - Property Surveying NEWSLETTER","og_description":"New Mortgages granted \u00e2\u20ac\u201c September Estimates The Council of Mortgage Lenders reported on 22nd October that September\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a320 billion. 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