{"id":14649,"date":"2016-02-02T12:42:54","date_gmt":"2016-02-02T12:42:54","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14649"},"modified":"2016-07-27T13:48:26","modified_gmt":"2016-07-27T13:48:26","slug":"mortgage-market-update-feb-16","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14649","title":{"rendered":"Mortgage Market Update &#8211; Feb 16"},"content":{"rendered":"<p><strong>New Mortgages granted \u00e2\u20ac\u201c December Estimates<\/strong><br \/>\nThe Council of Mortgage Lenders reported on 21<sup>st<\/sup> January that December\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a319.9 billion. This is 3% lower than November&#8217;s figure, but 23% higher than last December\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153<em>Lending <\/em><em>ended the year stronger than it started<\/em>\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 November Actual Figures<\/strong><br \/>\nThe Council of Mortgage Lenders reports (14<sup>th<\/sup> January) that gross mortgage lending for house purchase by home-owners in November totalled 60,100 loans, worth \u00c2\u00a310.7 billion. This is down 8.2% from October\u00e2\u20ac\u2122s in number and 9.3% lower in value. Compared to last November, it is up 9.3% in number and up 17.6% in value.<br \/>\nOf these, first-time buyer loans totalled 27,900, valued at \u00c2\u00a34.2 billion, which is down 7.9% in number and 8.7% in value on last month. This is 10.3% higher in number and 13.5% higher in value, compared to last year.<br \/>\nHome movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a36.5 billion, and numbered 32,300. These figures are down 9.7% in terms of value, and down 10.0% in number on last month.\u00c2\u00a0 However, the figures are up 20.4% in value and up 8.8% in number on last year.<br \/>\nThe number and value of remortgage loans also decreased in the month \u00e2\u20ac\u201c 29,300 loans worth \u00c2\u00a34.9 billion were made in November. These figures are 9.1% lower than last month\u00e2\u20ac\u2122s in terms of volume and 14.0% lower in value. Over the year, these figures are up by 24.2% in number and up 36.1% 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 November 2015.<\/strong><br \/>\nThe latest figures from CML (published 14th January 2015) show that first-time buyers&#8217; mortgages average \u00c2\u00a3128,000, which is 83.5% loan-to-value, and 3.46 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.<br \/>\nFor home-movers, the average loan is \u00c2\u00a3165,240, with a loan-to-value ratio of 72.7%, and 3.17 times income. Income proportion spent on interest is 7.7%, 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 November 2015<\/strong><br \/>\nThe Council of Mortgage Lenders reports that during November 2015, the total advanced on buy-to-let mortgages was \u00c2\u00a33.5 billion (23,300 loans). This is down 7.9% in value and down 5.7% in number than in October. Compared with last November, the number has risen by 34.7% and the value by 45.8%.<br \/>\n13,100 loans worth \u00c2\u00a32.1 billion were for remortgage \u00e2\u20ac\u201c a decrease of 0.8% in number and of 4.5% in value on the previous month. Compared to last November, the figures are up 50.6% in number and up 61.5% in value.<br \/>\nBuy-to-Let loans for house purchase totalled 10,000 worth \u00c2\u00a31.3 billion, a fall of 11.5% in number and of 18.8% in value on last month, but a rise of 17.6% in number and of 30.0% in value on November 2014.<br \/>\n<em>Source: Council of Mortgage Lenders<\/em><\/p>\n<p><strong>Outstanding Mortgages \u00e2\u20ac\u201c December 2015<\/strong><br \/>\nBy the end of December, the total outstanding mortgage lending in the UK amounted to \u00c2\u00a31.277 trillion. Last December it was \u00c2\u00a31.255 trillion. This averages to \u00c2\u00a3115,669 for each of the 11.1 million households with mortgage debt.<br \/>\n<em>Source: The Money Charity<\/em><\/p>\n<p>*<a href=\"http:\/\/www.propertysurveying.co.uk\/INDEX\/MonthlyNewsletter\/2016\/February-2016-Newsletter.html\"><em>Back to February 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 December Estimates The Council of Mortgage Lenders reported on 21st January that December\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a319.9 billion. This is 3% lower than November&#8217;s figure, but 23% higher than last December\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153Lending ended the year stronger than it started\u00e2\u20ac\u009d the report said. &hellip; <a href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14649\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Mortgage Market Update &#8211; Feb 16&#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-14649","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 - Feb 16 - 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=14649\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage Market Update - Feb 16 - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"New Mortgages granted \u00e2\u20ac\u201c December Estimates The Council of Mortgage Lenders reported on 21st January that December\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a319.9 billion. This is 3% lower than November&#8217;s figure, but 23% higher than last December\u00e2\u20ac\u2122s figure. \u00e2\u20ac\u0153Lending ended the year stronger than it started\u00e2\u20ac\u009d the report said. &hellip; Continue reading &quot;Mortgage Market Update &#8211; Feb 16&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=14649\" \/>\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=\"2016-07-27T13:48:26+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=14649\",\"url\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14649\",\"name\":\"Mortgage Market Update - Feb 16 - Property Surveying NEWSLETTER\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/#website\"},\"datePublished\":\"2016-02-02T12:42:54+00:00\",\"dateModified\":\"2016-07-27T13:48:26+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14649#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14649\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/?page_id=14649#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.propertysurveying.co.uk\\\/newsletter\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mortgage Market Update &#8211; Feb 16\"}]},{\"@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 - Feb 16 - 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=14649","og_locale":"en_GB","og_type":"article","og_title":"Mortgage Market Update - Feb 16 - Property Surveying NEWSLETTER","og_description":"New Mortgages granted \u00e2\u20ac\u201c December Estimates The Council of Mortgage Lenders reported on 21st January that December\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK would be \u00c2\u00a319.9 billion. 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