{"id":14567,"date":"2016-01-14T16:22:18","date_gmt":"2016-01-14T16:22:18","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14567"},"modified":"2016-07-27T15:43:07","modified_gmt":"2016-07-27T15:43:07","slug":"mortgage-market-update-jan-2016","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14567","title":{"rendered":"Mortgage Market Update \u00e2\u20ac\u201c Jan 2016"},"content":{"rendered":"<p><strong>New Mortgages granted \u00e2\u20ac\u201c November Estimates<\/strong><br \/>\nThe Council of Mortgage Lenders reported on 17<sup>th<\/sup> December that November\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a319.9 billion. This is 9% lower than October&#8217;s figure, and 23% higher than last November\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153Lending is set to finish the year stronger than it started\u00e2\u20ac\u009d the report said.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>New Mortgages granted \u00e2\u20ac\u201c October Actual Figures<\/strong><br \/>\nThe Council of Mortgage Lenders reports (15<sup>th<\/sup> December) that gross mortgage lending for house purchase by home-owners in October totalled 65,300 loans, worth \u00c2\u00a311.6 billion. This is up 8.5% from September\u00e2\u20ac\u2122s in number and 7.4% higher in value. Compared to last October, it is up 3.3% in number and up 10.5% in value.<br \/>\nOf these, first-time buyer loans totalled 29,900, valued at \u00c2\u00a34.6 billion, which is up 8.3% in number and 9.5% in value on last month. This is 3.5% higher in number and 9.5% higher in value, compared to last year.<br \/>\nHome movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a37.1 billion, and numbered 35,400. These figures are up 7.6% in terms of value, and up 8.6% in number on last month.\u00c2\u00a0 However, the figures are up 3.2% in value and up 12.7% in number on last year.<br \/>\nThe number and value of remortgage loans increased in the month \u00e2\u20ac\u201c 32,100 loans worth \u00c2\u00a35.5 billion were made in October. These figures are 5.6% higher than last month\u00e2\u20ac\u2122s in terms of volume and 10.0% higher in value. Over the year, these figures are up by 18.9% in number and up 34.1% 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 October 2015.<\/strong><br \/>\nThe latest figures from CML (published 15th December 2015) show that first-time buyers&#8217; mortgages average \u00c2\u00a3128,060, which is 83.7% loan-to-value, and 3.47 times income. The proportion of their income that buyers are spending on interest is 9.8%, but this rises to 18.4% when including capital repayments.<br \/>\nFor home-movers, the average loan is \u00c2\u00a3165,295, with a loan-to-value ratio of 72.4%, and 3.17 times income. Income proportion spent on interest is 7.6%, which rises to 18.2% when including capital repayments.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>Buy-to-Let Mortgages \u00e2\u20ac\u201c October 2015<\/strong><br \/>\nThe Council of Mortgage Lenders reports that during October 2015, the total advanced on buy-to-let mortgages was \u00c2\u00a33.8 billion (24,800 loans). This is up 2.7% in value and up 3.8% in number than in September. Compared with last October, the number has risen by 27.8% and the value by 35.7%.<br \/>\n13,300 loans worth \u00c2\u00a32.2 billion were for remortgage \u00e2\u20ac\u201c an increase of 5.6% in number and of 4.8% in value on the previous month. Compared to last October, the figures are up 38.5% in number and up 46.7% in value.<br \/>\nBuy-to-Let loans for house purchase totalled 11,400 worth \u00c2\u00a31.6 billion, a rise of 1.8% in number and of 6.7% in value on last month, and a rise of 17.5% in number and of 33.3% in value on October 2014.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p>*<a href=\"http:\/\/www.propertysurveying.co.uk\/INDEX\/MonthlyNewsletter\/2016\/January-2016-Newsletter.html\"><em>Back to January 2016 Newsletter<\/em><\/a>*<\/p>\n<p>\u00c2\u00a9 \u00c2\u00a0www.propertysurveying.co.uk \u00c2\u00a0 \u00c2\u00a0 PP<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Mortgages granted \u00e2\u20ac\u201c November Estimates The Council of Mortgage Lenders reported on 17th December that November\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a319.9 billion. This is 9% lower than October&#8217;s figure, and 23% higher than last November\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153Lending is set to finish the year stronger than it started\u00e2\u20ac\u009d &hellip; <a href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14567\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Mortgage Market Update \u00e2\u20ac\u201c Jan 2016&#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-14567","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mortgage Market Update \u00e2\u20ac\u201c Jan 2016 - 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=14567\" \/>\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 Jan 2016 - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"New Mortgages granted \u00e2\u20ac\u201c November Estimates The Council of Mortgage Lenders reported on 17th December that November\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a319.9 billion. This is 9% lower than October&#8217;s figure, and 23% higher than last November\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153Lending is set to finish the year stronger than it started\u00e2\u20ac\u009d &hellip; Continue reading &quot;Mortgage Market Update \u00e2\u20ac\u201c Jan 2016&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14567\" \/>\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=\"2016-07-27T15:43:07+00:00\" \/>\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=14567\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14567\",\"name\":\"Mortgage Market Update \u00e2\u20ac\u201c Jan 2016 - Property Surveying NEWSLETTER\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#website\"},\"datePublished\":\"2016-01-14T16:22:18+00:00\",\"dateModified\":\"2016-07-27T15:43:07+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14567#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14567\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14567#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mortgage Market Update \u00e2\u20ac\u201c Jan 2016\"}]},{\"@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 \u00e2\u20ac\u201c Jan 2016 - 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=14567","og_locale":"en_GB","og_type":"article","og_title":"Mortgage Market Update \u00e2\u20ac\u201c Jan 2016 - Property Surveying NEWSLETTER","og_description":"New Mortgages granted \u00e2\u20ac\u201c November Estimates The Council of Mortgage Lenders reported on 17th December that November\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a319.9 billion. 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