{"id":14404,"date":"2015-12-03T14:15:02","date_gmt":"2015-12-03T14:15:02","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14404"},"modified":"2015-12-22T12:28:41","modified_gmt":"2015-12-22T12:28:41","slug":"mortgage-market-update-dec-15","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14404","title":{"rendered":"Mortgage Market Update – Dec ’15"},"content":{"rendered":"

New Mortgages granted \u00e2\u20ac\u201c October Estimates<\/strong>
\nThe Council of Mortgage Lenders reported on 19th<\/sup> November that October\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a321.8 billion. This is 8% higher than September’s figure, and 19% higher than last October\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153This is the highest monthly figure since gross lending reached \u00c2\u00a323.6 billion in July 2008\u00e2\u20ac\u009d the report said.
\nSource: Council of Mortgage Lenders<\/em><\/p>\n

New Mortgages granted \u00e2\u20ac\u201c September Actual Figures<\/strong>
\nThe Council of Mortgage Lenders reports (11th<\/sup> November) that gross mortgage lending for house purchase by home-owners in September totalled 62,300 loans, worth \u00c2\u00a311.2 billion. This is no change from August\u00e2\u20ac\u2122s in number and 0.9% lower in value. Compared to last September, it is up 8.2% in number and up 14.3% in value.
\nOf these, first-time buyer loans totalled 28,600, valued at \u00c2\u00a34.3 billion, which is up 4.0% in number and 2.4% in value on last month. This is 8.7% higher in number and 10.3% higher in value, compared to last year.
\nHome movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a36.8 billion, and numbered 33,800. These figures are down 2.9% in terms of value, and down 4.2% in number on last month.\u00c2\u00a0 However, the figures are up 8.0% in value and up 15.3% in number on last year.
\nThe number and value of remortgage loans increased in the month \u00e2\u20ac\u201c 31,000 loans worth \u00c2\u00a35.1 billion were made in September. These figures are 20.2% higher than last month\u00e2\u20ac\u2122s in terms of volume and 18.6% higher in value. Over the year, these figures are up by 11.1% in number and up 18.6% in value.
\nSource: Council of Mortgage Lenders<\/em><\/p>\n

Mortgages – First-time buyers and home-movers \u00e2\u20ac\u201c September 2015.<\/strong>
\nThe latest figures from CML (published 11th November 2015) show that first-time buyers’ mortgages average \u00c2\u00a3127,800, which is 82.2% loan-to-value, and 3.45 times income. The proportion of their income that buyers are paying on interest is 9.7%, but this rises to 18.3% when including capital repayments.
\nFor home-movers, the average loan is \u00c2\u00a3167,495, with a loan-to-value ratio of 72.2%, and 3.16 times income. Income proportion spent on interest is 7.5%, which rises to 18.1% when including capital repayments.
\nSource: Council of Mortgage Lenders<\/em><\/p>\n

Buy-to-Let Mortgages \u00e2\u20ac\u201c September 2015<\/strong>
\nThe Council of Mortgage Lenders reports that during September 2015, the total advanced on buy-to-let mortgages was \u00c2\u00a33.7 billion (24,100 loans). This is up 8.8% in value and up 8.6% in number than in August. Compared with last September, the number has risen by 36.2% and the value by 48.0%.
\n12,700 loans worth \u00c2\u00a32.1 billion were for remortgage \u00e2\u20ac\u201c an increase of 10.4% in number and of 10.5% in value on the previous month. Compared to last September, the figures are up 42.7% in number and up 61.5% in value.
\nBuy-to-Let loans for house purchase totalled 11,300 worth \u00c2\u00a31.5 billion, a rise of 7.6% in number and of 7.1% in value on last month, and a rise of 29.9% in number and of 36.4% in value on September 2014.
\nSource: Council of Mortgage Lenders<\/em><\/p>\n

New Mortgages granted \u00e2\u20ac\u201c Third Quarter Actual Figures<\/strong>
\nThe Council of Mortgage Lenders reports that gross mortgage lending for house purchase by home-owners in Q3 2015 totalled 193,600 loans, worth \u00c2\u00a334.9 billion. This is 18.0% higher than Q2 2015 in number and 24.2% higher in value. Compared to Q3 2014, it is up 5.3 in number and 10.4% in value.
\nIn Q3, first-time buyer loans totalled 86,800, valued at \u00c2\u00a313.2 billion, which is up 13.5% in number and 16.8% in value on last quarter. This is 5.7% higher in number and\u00c2\u00a0 8.2% higher in value, compared to Q3 last year.
\nHome movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a321.6 billion, and numbered 106,700. These figures are up 21.9% in terms of number, and up 29.0% in value on last quarter.\u00c2\u00a0 The figures are up 5.1% in number and 11.9% in value on the third quarter last year.
\nThe number and value of remortgage loans also increased in the quarter \u00e2\u20ac\u201c 88,000 loans worth \u00c2\u00a314.6 billion were made in Q3. These figures are 4.3% higher than last quarter\u00e2\u20ac\u2122s in terms of volume and 8.1% higher in value. Compared to Q3 last year, these figures are up by 16.7% in number and up 24.8% in value.
\nGross figures for Buy-to-Let lending in Q3 was 71,500 loans worth \u00c2\u00a310.9 billion. This is 23.3% higher in number and 23.9% higher in value on Q2. Compared to last year, the number is up by 37.8% and the value up by 49.3%.
\nSource: Council of Mortgage Lenders<\/em><\/p>\n

Outstanding Mortgages \u00e2\u20ac\u201c October 2015<\/strong>
\nBy the end of October, the total outstanding mortgage lending in the UK amounted to \u00c2\u00a31.279 trillion. Last October it was \u00c2\u00a31,252 trillion. This averages to \u00c2\u00a3115,448 for each of the 11.1 million households with mortgage debt.
\nSource: The Money Charity<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

New Mortgages granted \u00e2\u20ac\u201c October Estimates The Council of Mortgage Lenders reported on 19th November that October\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a321.8 billion. This is 8% higher than September’s figure, and 19% higher than last October\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153This is the highest monthly figure since gross lending reached \u00c2\u00a323.6 … Continue reading “Mortgage Market Update – Dec ’15”<\/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-14404","page","type-page","status-publish","hentry"],"yoast_head":"\nMortgage Market Update - Dec '15 - 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=14404\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage Market Update - Dec '15 - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"New Mortgages granted \u00e2\u20ac\u201c October Estimates The Council of Mortgage Lenders reported on 19th November that October\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a321.8 billion. This is 8% higher than September’s figure, and 19% higher than last October\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153This is the highest monthly figure since gross lending reached \u00c2\u00a323.6 … Continue reading "Mortgage Market Update – Dec ’15"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14404\" \/>\n<meta property=\"og:site_name\" content=\"Property Surveying NEWSLETTER\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/PropertySurveying\" \/>\n<meta property=\"article:modified_time\" content=\"2015-12-22T12:28:41+00:00\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 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=14404\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14404\",\"name\":\"Mortgage Market Update - Dec '15 - Property Surveying NEWSLETTER\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#website\"},\"datePublished\":\"2015-12-03T14:15:02+00:00\",\"dateModified\":\"2015-12-22T12:28:41+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14404#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14404\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14404#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mortgage Market Update – Dec ’15\"}]},{\"@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 - Dec '15 - 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=14404","og_locale":"en_GB","og_type":"article","og_title":"Mortgage Market Update - Dec '15 - Property Surveying NEWSLETTER","og_description":"New Mortgages granted \u00e2\u20ac\u201c October Estimates The Council of Mortgage Lenders reported on 19th November that October\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a321.8 billion. 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